Several reporters were calling around last week about a rumor that Knox County Mayor Tim Burchett would be announcing a $150 million surplus. Unfortunately, one news source published the rumor in a column on Monday.
A surplus is revenue received that is above any projected or anticipated expenditures. It is NOT a fund balance, fund balance is money that is available but is projected and/or expected to be used before the end of the year.
Every month, Casual Chris Caldwell gives a budget report to the County Commission at their “Chairman’s luncheon”. The Chairman’s luncheon is properly noticed, so go to the County Commission website and look for their upcoming meetings.
According to EVERY report given this year to Commission by Finance Director Caldwell, the surplus is on target between $6-12 million by the end of the year.
