County Bankrupt????????
While I agree that the county is not bankrupt financially it is certainly headed in that direction. By her own words the County Executive stated the county is spending more than it is taking in. Certainly that's, in part, a problem that is caused by some months being periods of slow collections. There is a greater problem however in that when the budget was made it was adopted knowing that reserve funds would have to be used to finance it. Many times the budget committee, the financial management office, the county executive and the commissioners have been warned of the financial problems, even before the collapse of the markets, yet they have chosen to ignore the problems and increase spending even above what was originally budgeted for.
Three million dollars in reserve may sound like a lot but when you keep taking 10 an 20 an $30,000.00 chips away from it soon it's not so big.
Fact, Giles County has a shrinking tax base but continues to grow the government.
Fact, with a decreasing tax base and increasing expense a tax increase is on the way.
Fact, with a shrinking population and increasing unemployment how can the people who are left pay the increased tax burden?
While the county may not be bankrupt at this moment it's leadership is certainly bankrupt of common sense and a will to control spending. Allen Barrett