The plan was presented by Bradley County Mayor D. Gary Davis. He said the revenue projects included in the plan assume the tax rate will remain the same. The plan does include money from payment in lieu of taxes that will be coming in the future. The plan shows projected balances for the next 10 years.
“We’re not going out into the future and saying this is how we are going to spend this,” Davis said.
The plan is for informational purposes only. The Bradley County Commission will still approve a budget every year. Finance committee member Ed Elkins originally asked for the plan to serve as a way to plan for future needs.
Elkins said the plan would help the Commission see where the needs are, based on projected revenue.
Raises for county employees are also included in the projected totals.
“It doesn’t mean that the raises are promised — that’s up to you guys on an annual basis,” Davis said.
Davis said the general fund balance is where the decrease needs to be addressed. The plan calls for growing the fund balance from 10 to 15 percent.
“The fund balance has to get bigger, in my opinion,” Davis said.
Davis said the projections were based on a conservative amount of growth of 2 percent and 1 percent growth of sales tax revenue. Growth could be more than projected in the coming years.
The plan is a work in progress and would be changed as variables change, officials said.
Some elements of the plan include information specific departments have kept for years.
The presentation of the plan explained projects for different funds highlighting funding for the fire department, road department, law enforcement, debt service and community development.
Davis said in the past revenue that had been going to the debt service fund was designated to the community development fund to pay for industrial incentive packages.
“The plan was originally, I think ... when Wacker kicks in and these projects are behind us it would go back,” Davis said.
Each finance committee member received a copy of the plan to read more thoroughly at a later date.
Finance Committee member Jeff Morelock asked if the planned local veterans home was included anywhere in the plan. Davis said it was not specifically included, however, there are some scenarios that could fund it. Davis encouraged the committee to keep the veterans home and industrial park projects when discussing other projects.