Over the past 20 years, some 33 miles of streets have been added to the City of Georgetown, according to a city budget study comparing Georgetown to 18 other Kentucky cities.
With the additional streets, Georgetown now has 129 street miles to maintain, the report states.
“To maintain this vital infrastructure on a 20-year schedule costs approximately $1 million annually,” states the report.
State motor fuel taxes fund the construction and maintenance of county and municipal roads. These Municipal Road Aid (MAP) funds are allocated based upon a formula using the most recent Census population statistics.
Georgetown receives $576,000 annually from these funds, leaving a $424,000 gap, the report states.
“The city currently paves streets exclusively with MAP funds,” the report states. “If the city does not start supplementing with General Fund dollars, streets will only be restored every 34 years.
“Over the next 10 years, that will create an additional $5 million burden to the General Fund.”
In another area of the report, Georgetown employs 48 fewer employees than it did in 2006. The report states at its peak Georgetown employed 241 people just before the recession, falling to as low as 174 in 2009. In 2018, despite record growth, Georgetown employs 193 people, the report states.
The report also states the city’s debt obligations are much lower than other Kentucky cities of similar size. Georgetown’s general obligation debt per capita is $439 compared to an average of $727 for its peer cities. That means only 4.51 percent of the city’s general fund is obligated to pay down debt, compared to an average among its peer cities of 7.48 percent.
Mike Scogin can be reached at email@example.com.