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 closed the 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.