Sunday, January 20, 2008

Hamblen County: Is this criminal mismanagement?

Linda Noe has been looking into the Hamblen County audit and what she found was a County Budget that is completely out of control. They are going DEEPER and DEEPER into debt and no one seems to care or, for that matter, be aware of the mounting debt. Thank you Linda on behalf of Hamblen County Taxpayers. Now, no one can claim ignorance of the problem.

Link

What happened to the wheel tax money in 2002? What happened to the statement to the voters that it's "either the wheel tax or a property tax"? Why were the voters lied to? Because no one is minding the store in city or county government. The city doesn't have a clue about its revenue, and it sure doesn't know what's going on with its vaunted sewer. The county has a better handle on its revenue but the spending is out of control and no one has a clue about the impending debt doom. Debt is killing the city and county! Take a look at this page from the 2006 Hamblen County Audit. Since 1998, the county has borrowed $40M (that's 40 million dollars) for the courthouse addition and some other small projects but primarily (about $35M) for the last school building program. Now look at the last column. The county still owes the entire $40 Million that was borrowed. Not one penny of the debt has been paid down. The county has been making "interest only" payments for 8+ years. And now the School Board wants to spend another $57M or more. County Commission Chair Stancil Ford estimates anywhere from $70-$100M. And what does the County Trustee say? A property tax hike of 45-cents would be needed just to pay the interest! That is outrageous. We've been paying interest only on $40M for 8 years and now the Trustee talks about a TAX INCREASE just so we can pay interest only on another $100 Million.