Recognizing the need to present a balanced budget with a semi healthy general fund balance to the Cannon County Commissioners as well as the State of Tennessee Comptroller’s Office, the Cannon County Budget Committee met for the 16th and final time to meet that goal. Last week in a committee meeting, County Technical Advisory Service representative Ben Rodgers touched on some items that the State Comptroller’s Office will be looking for in a budget submission. One of those items was the State wants all the counties to maintain a minimum fund balance and in Cannon County’s case the minimum would be $600,000. However with a 19 cent property tax increase to help fund the expenditures the estimated ending fund balance was $243,895.00 which is considerably lower than what the state probably would want to see. Tuesday night Committee member Glenn Steakley presented two different propositions to the Committee. Both of the proposals was to cut last year’s spending and lower the property tax hike proposal from 19 cents to 15 cents. The unanimous decision was made to cut 2.75% from last year’s spending totals by each county general department and raise the property tax to just 15 cents instead of 19 cents with the understanding that if the wheel tax ultimately passes 13 cents which is the amount equal to the property tax would be taken off the property tax. This will give the estimated general fund balance of $538,678.00at the end of fiscal year. The recommendation will now go before the entire Cannon County Commissioners to vote on in a special called meeting toward the end of this month.
