Collegedale Budget On Target

Wednesday, January 22, 2014 - by Gail Perry

With half of the fiscal year complete, City Manager Ted Rogers gave the financial report on the state of the city’s budget at the Collegedale Commission meeting Monday night. He told commissioners that revenue is coming in as expected and there is nothing out of the ordinary to report.  

Building permits received this year have exceeded the number from the previous year, reflecting more interest and building in Collegedale, he said.  

The Hall state income tax was estimated to be low for budget purposes and has come in high, Mr. Rogers was happy to announce. He also said that the budget is right on target with the lowered projections this year for sales taxes.  

The Parks and Recreation expenditures are over budget, he said, because it was difficult to complete the playground improvements in one year. 

A road work project is on track at Prospect Church Road. Environmental clearance has been received for the removal of two small bridges that will be replaced with two culverts.  

Another traffic project at the intersection of Lee Highway and Edgemon Road will be done at no cost to the city. The contract with the state of Tennessee has been signed and returned to TDOT that will maintain the intersection. TDOT has designated certain intersections within the state that need improvement, and will fund the work 100 percent. Around $6 million will be spent on improvements at this one which will add a traffic signal and turn lanes. Mayor John Turner told the other commissioners that changes were needed because three fatalities had occurred at that location in the last two years.  

The city’s checking account holds around $2.9 million, the general fund has $162,955, and the contingency fund now holds $2,400,000 which is 28 percent of annual revenues. Mr. Rogers plans to build up the capital improvements fund. The sewer fund holds around 1.4 million and is restricted for repairs and upgrades to the sewer system that has been mandated by the Federal Government.  

With the very low interest rates available, interest was only budgeted at $30,000 for the year. The city has funds invested with the Local Government Investment Pool with a current rate around .1 percent.  

A vote to accept the financial report was unanimous.  

A representative from the animal Medical Professionals Veterinarian clinic came before the commissioners to request permission to hold their annual 5-K fun run accompanied with dogs. The event will be held at Veterans Park and will benefit the Animals Professional Angel Fund that provides care for animals in need. Last year around 70 people participated and several vendors set up booths. The race will take place April 27, from 8 a.m.-11 a.m.  


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