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City Finances - Where does the $$ come from?

The audit for the year ended 6/20/04 is finally complete.  It will be discussed at the special called Council meeting next Tuesday (9/20) at 7:00pm.  We are interested in what the findings are for this audit period.  Here’s some other City finances we want you to keep in mind:

  • Jim Marshall has requested $500,000 for the City through the Transportation Dept.  This grant will require $100,000 matching funds (20%). Where’s it going to come from?
  • The paper reports that the City wants to enter into an agreement to find water with the JCWSA.  The estimated cost would be $2.2 million.  A grant application has been sent to USDA (Stone Workman) for $500,000.  That leaves $1.7 million—the City will need to come up with half--$850,000.  Where’s this money going to come from?
  • The City is requesting a $750,000 loan from MEAG to upgrade the utility system.  In order to pay this back, will the City increase utility rates?
  • At the August 9 meeting, Mr. King informed the Council that the new police car had been in service for 45 days and something needed to be done about the funding.  The minutes state, “GMA could NOT fund it for the City’s 2003 and 2004 preliminary figures were not good.”  McIntosh would give the City a “floating loan.”  How much is the loan for?
     
  • City leaders want $100,000 of SPLOST money for recreation. Can we afford to trust them with more money when they can’t account for the Funderburg Park money they received in the past? 

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