Guilford County Prepares for Potential Funding Reductions with Fiscal Stress Test
In response to growing concerns about the stability of federal and state funding, Guilford County is implementing a fiscal stress test. This initiative follows closely on the heels of a recent government shutdown that sparked fears of delays in food and nutrition benefits, and uncertainty due to the absence of a new state budget in North Carolina.
During a recent Guilford County Board of Commissioners Work Session, local authorities emphasized the significant challenges posed by the potential loss of federal and state funds, noting that county resources alone would be insufficient to cover such deficits.
Mary Herbenick, who leads the Guilford Nonprofit Consortium, highlighted the pre-existing challenges faced by nonprofits amid changing federal funding strategies. She explained, “Organizations have been scrambling across the sector to step into gaps, as they’ve had to lay off folks and to reconfigure their programming and figure out what they can do with reductions in donations.”
These funding uncertainties have coincided with a reported 19% rise in homelessness in North Carolina, further straining local resources.
The fiscal stress test is intended to equip Guilford County with the necessary tools to navigate future financial uncertainties effectively. The Board of Commissioners is slated to revisit this financial strategy in an upcoming work session.
