- Special Sections
- Public Notices
I appreciate Brenda Allen raising the issue of the city's surplus funds or, lack thereof, when I took office in January 2011.
My statements at the [Campbellsville/Taylor County] Chamber [of Commerce] luncheon were accurate. The city had no reserves when I took office in January 2011.
All of the city's funds in January 2011, actually, $408,550.64 balance rather than $791,839.33 as stated by Mrs. Allen in the CKNJ published July 24, 2014, were already obligated funds. Unpaid bills and current operating expenses had to be paid from the balance remaining in the general fund account. There were no surplus funds, which means funds over and above those necessary for the city's obligations.
Now, three and half years later, the city has a surplus of $800,127.55. These statements are accurate, factual, and above all true; and are supported with documents provided to the CKNJ which are also available on my website at www.tonywyoung.com.
Through much hard work, good financial management and teamwork by the city employees, this surplus, along with other funds which have been saved over the last three and half years, will allow our city to progress and flourish. For example, the city was able to afford to renovate the Campbellsville Civic Center. This building, formerly the Taylor County Library, is a historical building we can all be proud of. It is now office space for Habitat for Humanity, Chamber of Commerce, Community Ventures, Downtown Businesses and Renaissance, Greater Campbellsville United and Economic Development Authority. In addition, it permitted further progress of Campbellsville University, one of our community partners.
It is important that the public understand that the improvements to the city's assets and the acquisition of new assets at no additional indebtedness resulted from good financial practices implemented by the city's leadership. Should anyone have questions about any of these issues feel free to contact me or go to tonywyoung.com for additional details.
Tony W. Young