Knox County found money!*

Looks like the county “found” nearly $1 million in its budget due to good markets and whatnot. From the KNS story:

The savings comes as good news to Knox County MayorTim Burchett, who is set to present his budget for the 2014-15 fiscal year on Thursday.

He doesn’t count the money as a surplus to be spent, though.

“It’s not a million-dollar refund,” Burchett said. “It’s $1 million less than we would have to put in at this time.”

Good investment returns for Knox County employee pension funds brought the savings, according to county staff.

*Apparently it’s owing to good pension investment returns last year, and is a reversal from the current fiscal year, in which the county’s pension payment grew by $500,000 or so.

Now it doesn’t look all that great that a surplus will pump up the budget – not after last year’s surplus – but don’t use my tea leaf readings to set your watch (channeling Mike Brown there). Burchett told us he plans to hang on to the money. Though there’s little doubt that groups are making a play for the extra cash.

I’m betting that the money has already been earmarked (maybe), or will not be spent in full (more likely). The folks that I’ve talked to have said that thre’s not a whole lot of suprises or new spending in the upcoming budget, and certainly no tax increases like the city has proposed for 2014-15.

Happy Friday. Dogwood 5K tomorrow, Curtis Fest and other funsies await.

 

 

About Gerald

A reporter in Knoxville, TN. Work (mostly) inside and play (mostly) outside. I'm a part of the X or the Y generation. None of us claim the other.
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