Quite a bit has been said about the prior council during this most recent election cycle. In particular the hard-line stances on financial responsibility taken by former Councilmen Weathers, Thomas, and Nichols were up for debate. The three who didn’t quit often deadlocked the 2012 – 2016 council by insisting that the budget be adhered to and that new spending be accompanied by new ways to spend the taxpayers’ money more efficiently. Often they were derided for being controlling, but in the end it appears they left the town in a better place, at least financially. Former Tuscaloosa County Commissioner Don Wallace, the CPA in charge of the town’s financial audits, completed his annual report on the town finances through September 30, 2016 and he made his report to the Council at last week’s meeting. The results show that the current council will inherit the most stable financial situation of any administration in town history, now it is up to them to make sure it stays that way. Here are the details.
When the 2012 Council entered office, there was over $60,000 in unpaid tax liabilities and less than half that amount in the bank. Now, upon their exit, they have left $1.7 million in assets on the balance sheet and more than enough money in the coffers to cover the town’s budget even if revenues completely disappeared. More importantly than the town’s departure from wanton irresponsibility, is the fact that according to the audits, the town owes just over $4300 in long term debts. That’s it. No multi-million dollar sewer debt, no unpaid loans, and no liability for the GUSC. While there are some concerns with the police department exceeding its equipment budget by over 50% and the multiple purchases and returns of GPS equipment, in general, the town earned well-deserved praise for financial stability.
The big take away for concerned citizens is that the audit clearly reaffirms that the Save Lake View coalition was and still is completely wrong. The police department was fully funded and was even allowed to exceed its requested budget in several areas, the GUSC debt, if it even exists, is in no way a liability of the town, and any debt that may have been incurred from the building of the sewer system was satisfied by the original 30-year franchise agreement. The current administration campaigned on the premise that the town needed to pay the GUSC debt and that the police department was under supported and under funded. Neither are true and it is very important that concerned citizens make sure that they do not forget that. Lake View is in a very good place in terms of government finances. That cannot be allowed to be squandered and it certainly can’t be allowed to line the pockets of a private sewer owner.
Citizens for a Better Lake View 