City Financial Update:

For those interested in the latest in regard to our city finances, please read the message below from Alderman Rick Graham, Chairman of the Budget and Finance Committee for the City of Spring Hill. Thank you for the update Mr. Graham!

Enjoy!


Friends,

It has been a long time since I have communicated to you by email. I wanted to take a minute and update you on our city finances and remind you to vote starting today.

First the finances, today in the Williamson A.M., we have the major headlines, "Spring Hill budget on track." After seven months we actually have a $2.1 million dollar surplus (revenue minus expenses) combined over our five primary budgets. This is great news because the remaining five months we have some annual expenses to pay and with little property taxes revenues remaining; we are on target to achieve budget and maybe have a surplus. We will be watching it very closely for the next five months.

The Budget and Finance Advisory Committee (BFAC) has been meeting once or twice a month since December 2007. The City has made many, many changes to put in place the tools to keep us financially sound and correct the deficiencies from our state audit. As you will see below, the City department heads have spent and cut their department expenses to allow us to achieve this year's budget. We analyze "line by line" all revenues and expenses for the City each month.

SPRING HILL FINANCES- July 08-January 09- 7 Months Actual:

· Over all Revenue 8% Off budget - Over all Expenses 25% Less Than Budget

· Over all we have a surplus of 17% or $2.1 Million

· General Fund Revenue $223k off budget but $1,861,539 more than prior year

· Adequate Facilities Development taxes Revenue off budget by $438k

· Water Sewer Revenue off budget by $506k & $861k less than prior year

· General Fund Expenses 13% less than budget or $854k

· General Fund has a surplus of 29% (Revenues minus Expenses) or $630k

· Adequate Facilities Development Taxes Expenses or 61% less than budget (right on budget with revenue minus expenses)

· Water Sewer Expenses 36% Less than budget or $1,413,996 with a surplus of $907k or 42%

· Property Taxes collected through January (not Feb) is $2.1 million vs. $1.9M budget = $206k ++

· Local Sales Taxes $163k less than budget (catching up due to The Crossings and much more than prior year)

· State Sales Taxes $177k less than budget

· Police Expenses $25k under budget

· Fire Expenses $170k under budget

The BFAC meets the 3rd Wednesday of each month at 4 pm in the City Hall. It is open to the public and I invite you anytime to witness our very progressive agenda. Jim Smith, City Administrator, Alderman Eliot Mitchell, April Goad, City Recorder, and myself make up this committee. It has been a big learning curve these two years and the learning experience has been valuable in my service these two years and moving forward for the next two years.

We start the budget process for our next fiscal year (July 2009- June 2010) in our April meetings with a new Board of Mayor and Alderman (BOMA). We will have at a minimum three new aldermen and a new mayor of the nine member board after this election. It is very important for Spring Hill that you vote because we have much more work to do for the next few years.

I am asked often who they should vote for in this election. I always tell people I would not tell them how to vote, but I would share with them who I am voting for between today (early voting starts today) and election day April 9th. Remember, you get to vote for four aldermen (even the ones out of your ward) and a mayor.

I am voting for Cindy Jobe for Mayor (www.cindyjobe.com), Alderman Jonathan Duda for Ward 2 (www.voteduda.com), Keith Hudson for Ward 3 (www.keithhudsoncares.com), Les Cleveland for Ward 1 ( lescleve@bellsouth.net), and Allen Hall for Ward 4 (www.HallforAlderman.com). I will not elaborate on the reasoning for my vote choices but please contact me at aldermangraham@gmail.com with any questions, and I will respond as soon as possible. I believe these individuals will be strong additions to our board and assist in achieving great things for Spring Hill.

Early voting is from today, March 20th until April 4th at Evans Park (Winchester Community Center) from 8 am to 4 pm (Monday - Friday) and 8 am to noon (Saturday). Election Day voting on April 9th, is at the above for Maury voters and Fire Station #3 in Campbell Station from 7 am to 7 pm for Williamson voters.

Please contact me anytime. God's blessings to you and Spring Hill

Rick Graham

AldermanGraham@gmail.com