I Was Wrong
It's 7.2 Million
|In my ongoing effort to always be as accurate as
possible, I'm always glad to correct any mistake I make. Back in July I
had reported that Loudon County government
fiscal year 07-08 with $5,488,192.00 surplus in
general fund balance. There were some who doubted that it was possible
that the county could have that much surplus money. Well I was wrong.
According to the county finance director, the county actually ended the
year with a surplus of $7,200,00.00. This does not include any revenues
from the eight cent property tax increased passed by commission in
August. The report also showed that the board of education finished the
year with 3.5 million in reserves.
A property tax increase with that much money in reserves just doesn't add up. At least we now know there is enough money for the much anticipated school building program.