Saturday, February 05, 2011

Haslam Is Gone Less Than 30 Days and the Reserve Fund is Tapped

This News Sentinel story details how the City of Knoxville is going to tap into it's reserve fund (surplus tax collections) for $3.8 million to cover summer expenses. All of this less than 30 days after former Mayor Bill Haslam left town to become Governor Bill Haslam. The article discusses how all the revenue sources have dried up. However, no mention of the red light camera revenue. The red light camera revenue probably kept the shortfall to $3.8 million instead of $7.16 million.

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