During the report of Henderson City Council concerns at the last Council meeting on Monday, November 19, 2007, outgoing Council member Elissa Yount reminded members that they had been “put on mandate” by the state’s Local Government Commission (LGC) to improve the fund balance.
The now outgoing Council came into office with $22,000 in unrestricted funds, significantly below the required 8% of the budget required by state regulations. The unrestricted balance is now over $1,200,000.
Yount said that she wanted an assessment from the LGC of how the City has done [in improving the fund balance].
Interim City Manager Ed Wyatt said that when the auditors issue a letter, they will “touch on” the fund balance.
Yount said that the letter from the LGC regarding the low fund balance came to the homes of Council members.
“It was scary,” Yount said.
Wyatt said that the Council needs to feel validated for the sacrifices it has made.
Yount stated that she did not believe that the LGC had done its job because it did not step in when the fund balance was low.
Re-elected Council member Mary Emma Evans said that she thinks the Council has done a “good job” with the budget. She thanked member Lynn Harper, Chair of the Finance and Intergovernmental Relations (FAIR) Committee for her efforts.