Shelby County seeking loan to cover ‘unanticipated costs’ from shutdown, task force

Shelby County Government is currently in a negative cash position and could struggle to make payroll, officials said.

The county could borrow from the debt service fund in anticipation of property tax revenue. The borrowing would be repaid through the future property tax collection over the next few months.

Danielle Schonbaum, Shelby County deputy director of administration and finance, told Shelby County Commissioners the combination of a lower-than-normal general fund balance, the federal government shutdown and the unanticipated costs of the Memphis Safe Task Force has forced the county into a negative position for its general fund…

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