Before reading any further, remember the county plans to raise your proper taxes in August and the commission and the board of education would like for you to vote for a $50 wheel tax.

According to the annual year end report issued by the Loudon County Trustee's office, Loudon County government ended the 07-08 fiscal year with combined fund balances of $24,625,788.00. That's twenty-four million six hundred twenty-five thousand seven hundred eighty-eight dollars.

The fiscal year ran from July 1,2007-June 30,2008. This includes county government and the Loudon County Board Of Education. The massive fund balances can be attributed in part to the recent boom in development and high property assessments but mostly to the enormous property tax increase passed by the Loudon County Commission three years ago.

In 2005 the commission narrowly, by one vote, passed a 21% property tax increase. This was the largest tax increase in the County's history. The commission passed the tax increase on what turned out to be erroneous financial advice from a representative of The County Technical Assistance Service, CTAS, who had given dire estimates on the county's financial position. All of the projected short falls turned out to be wrong. Unfortunately, the tax increase cat was already out of the bag.

There are some notable revenues this year.

  • On the money in the bank, our tax dollars, the county earned $1,590,689.00 in interest.
  • The combined balances in the three drug funds is now $327,296.00.
  • The county paid the Lenoir City School System $4,835,458.00.
  • Total property tax collections for this year, $23,436,199.00.
  • Total Adequate Schools Facility Tax collected, $400,015.00.
  • Hall Income Tax Revenues $963,825.00.
  • Total county sales tax collections $8,605,559.00

Below are the funds and balances. Links are to trustee's reports. (PDF)

Looking first at the County Government end of the hall, the general fund 101ending fund balance is a whopping $5,488,192.00. This is the fund used for all general government operations.

The Law Library fund, 114, finished with $13,230.00.

The Convenience Centers, fund 116, finished with $438,008.00.

The sheriff's department's three drug funds also did well with fund, 122, ending at $232,228.00, fund 128 $23,870.00 and the Metro Narcotics fund, 363, which was to have been dissolved several years ago finished with $71,198.00.

The county debt retirement fund, 151, totaled $1,685,791.00. This fund is used to make payments on the county's debt.

The county capitol projects fund, 171, had $1,779,656.00. This fund is used to fund building type projects.

The Center 75 maintenance fund, 370, ended with $25,059.00.

The County Highway Department, fund 131, finished with $844,397.00.

The Solid Waste Commission, fund 207, has $2,519,727.00. This fund is exclusively for the future operations on the county land fill. This fund balance is generated by land fill tipping fees.

The City Schools ADA, (average daily attendance) fund, 355, had an ending balance of $179,443.00. This fund is used to handle the county's portion of funding for the Lenoir City School System. This year the county paid the Lenoir City School System $4,835,458.00. This funding is mandated by the state to pay the cost of county children attending Lenoir City schools.

The Roane State Career Center maintenance fund, 357, was at the bottom of the barrel with only $62.00 left over.

On the Board Of Ed's end of the hall, things are a little rosier then some accounts have reported.

The school's general fund, 141, ended with $2,570,101.00. This fund is used for many of the general BOE operations.

The two federal projects funds, 142 and 143, ended respectively with $174,754.00 and $17,603.00.

The school's debt retirement fund, 156, finished with $5,318,463.00. This fund is used to make payments to the county to retire school debt.

School capitol project fund,177, ended with $3,244,006.00*. This fund is used to fund building type projects.
* Includes a three million dollar loan for maintenance issues.

County Government
Fund Beginning Balance  7/1/07 Revenue Expenditures Ending Balance 6/30/08
County General 101 $4,621,296.00 $17,845,361.00 $16,749,486.00 $5,488,192.00
Law Library 114 $10,614.00 $7,603.00 $4,912.00 $13,230.00
Convenience Cts. 116 $222,255.00 $787,628.00 $564,186.00 $438,008.00
Drug Fund 122 $213,487.00 $155,605.00 $136,596.00 $232,228.00
Drug Fund 128 $109,704.00 $27,212.00 $113,046.00 $23,870.00
Drug Fund 363 $58,204.00 $12,876.00 $0 $71,198.00
Highway Depart. 131 $965,388.00 $2,149,929.00 $2,245,722.00 $844,397.00
Debt Service 151 $1,632,349.00 $2,778,104.00 $2,699,809.00 $1,685,791.00
Capitol Projects 171 $1,155,063.00 $3,206,849.00 $2,569,228.00 $1,779,656.00
Landfill 207 $2,135,652.00 $1,264,662.00 $869,398.00 $2,519,727.00
LC School ADA 355 $126,933.00 $4,959,449.00 $4,835,458.00 $179,443.00
Roane State Mat 357 $63.00 $180,318.00 $179,309.00 $62.00
Center 75 Mat. 370 $21,201.00 $8,566.00 $4,622.00 $25,059.00
Totals $11,272,209.00 $33,384,162.00 $30,971,772.00 $13,300,861.00

Loudon Co. Board Of Education


Beginning Balance  7/1/07 Revenue Expenditures Ending Balance 6/30/08
Schools General 141 $3,712,070.00 $35,949,865.00 $36,846,810.00 $2,570,101.00
Federal Projects 142 $141,112.00 $1,836,180.00 $1,802,539.00 $174,754.00
Central Cafeteria 143 $17,603.00 $140,928.00 $140,927.00 $17,603.00
Debt Service 156 $5,059,374.00 $2,011,081.00 $1,729,099.00 $5,318,463.00
Capitol Projects $790,231.00 $4,011,377.00 $1,557,602.00 $3,244,006.00*
Totals $9,720,390.00 $43,949,431.00 $42,076,977.00 $11,324,927.00
Total Combined $20,992,599.00 $77,333,593.00 $73,048,749.00 $24,625,788.00

Commissioners should take a long hard look at the current reserves before asking Loudon County tax payers to pay more. With the cost of everything going up and up, all elected officials should be making every possible effort to find ways to cut taxes rather than raising taxes.