Commissioners will get their pay increase — in 2023

FORSYTH COUNTY, Ga. – It’s been six years since the Board of Commissioner received so much as a cost of living allowance (COLA) increase in their paycheck. That all changed Thursday when they voted themselves an annual increase of approximately $8,000.

But they will have to wait a little longer to enjoy it. It won’t kick in until January 2023. The commissioners’ pay will go from $34,976 to $43,125 while the Chairman’s pay will increase from $36,747 to $45,407.

The Board also approved a resolution that authorizes the execution of documents related to the issuance of the 2022 Forsyth County Water and Sewerage Authority’s Revenue Bonds. Chief Financial Officer  Marcus Turk said refinancing the bonds is still a viable because the net present savings as a percentage of bond is 6.8 percent and could result in a savings of approximately $8.2 million for the County.

But he added, “Given the high probability of the start of a series of federal funds rate increases next month that could possibly drive the 10-year treasury yield higher, I believe it is necessary to proceed with the refunding now.”

The Board also approved a minor procedural change to the public comment portion of the meeting. In the past, those wishing to speak had to submit a sign-up sheet not “more” than five minutes prior to the start of the meeting. That has been changed to not “less” than five minutes prior to the start of the meeting.