The same city council meeting with two different point's of view.
The AJC's April Hunt wrote:
East Point started out the current fiscal year in yet another deficit, though one smaller than in years past.
The $2.2 million hole in the city’s general fund was among several findings an outside auditor presented during a 90-minute City Council meeting Monday night. That counters months of claims that the city ended the year with a surplus.
Details, though, are unclear. City attorney Nina Hickson refused to make the draft audit public.
Read more here.
Ward B Councilman Lance Rhodes emailed this message:
Just a quick note to let you know that the auditor meet with the Council last evening and confirmed the financial condition of the city. As I have been advising for the past two years, we are on our way to recovery. Every statement made through the City Manager's office has been correct. Mr. Jones has done an outstanding job in addressing our recovery. It is an exciting time for East Point.
While we are excited about our improvement, we are still far from being stable. My greatest fear now is the attempts of some Council Members to begin a spending spree. This improvement should not be a license to spend but a reminder of the need to continue our recovery plan.
Our goal is to work over the next two years to be able to operate without the use of a tax anticipation note. I believe the use of the TAN is a solid financial approach. However, it certainly is a sign of improvement when the use of a TAN is optional and not necessary for general operation.
We have gone from a 22 million dollar financial challenge 8 years ago, to a 14 million dollar TAN to only needing an 8 million dollar TAN this year.
We have cut the budget, increased revenue, completed major CIP improvements, addressed the Consent Order issued through the EPD, paid a 16 million dollar debt to Atlanta and the list goes on.
Bottom line is............."what we are doing is working". Please encourage the Council to continue our recovery plan. In addition to this focus, we must now search out new development and retain present business.
