In Mar. 20-26 issue By Derek Aaron Times Journal Reporter
JAMESTOWN - The city was commended by their auditor, Jerry Hensley, for being in good financial condition at Monday's monthly meeting of the city council.
Hensley, who presented the 2007 audit report, said the city had total combined assets of more than $18.6 million, an increase of nearly $1 million from last year.
He said total liabilities from that number were more than $2.7 million, giving the city total net assets of nearly $16 million.
Out of the nearly $16 million, $13.9 million is in property, belongings and equipment owned by the city. Over $12 million of that is allocated for water and sewer purposes with the rest being used for "general activities," Hensley said.
He said the city had $594,567 in their "unrestricted general fund," to use to fund government in the 2008-09 fiscal year, going forward.
Hensley said the last fiscal year was a "heck of a year," for the city and he told the council members to remain cautious in their managing of the city's services and functions.
In other happenings at the meeting—
• The council held the second reading of ordinance 2008-01, an ordinance changing the regular monthly meeting date from the third Monday to the third Thursday of each month at City Hall. The time for the meeting will remain 6 p.m. The first Thursday meeting of the Jamestown City Council is scheduled for April 17.
• Mayor Brooks Bates gave an update on the situation with the Jamestown "Doughboy," monument that was destroyed nearly a month ago by an alleged drunk driver.
He said he has met with Judge-Executive Mickey Garner and American Legion Commander Jeff Reeder and have decided that the best option would likely be to purchase a "new" monument, rather than fix the damaged one.
"I expect they're going to get a mold and have it re-poured," Bates said. "I don't know that for sure." He also said the damaged flag pole must also be replaced.
• The council agreed, beginning in 2009, that city employees should receive an added, paid holiday, in this case Martin Luther King, Jr. Day in February. That brings the total number of paid holidays for city workers to be 11 and a half days.
• Bates re-appointed Jeff Warner and Larry Joe Murray to the gas board.
• The council went into executive session for discussion on appraisals of city property being considered being purchase for the building of the new Russell County Judicial Center. Council members remained in executive session for nearly an hour before returning to regular session.
After returning to regular session, Bates said no action was taken and the meeting was subsequently adjourned.
The Times Journal is a weekly newspaper issued on Thursdays. It was first published on October 13, 1949, by Andrew J. and Terry Norfleet.
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Russell County News is a weekly newspaper issued on Saturdays, and is mailed free to every address in Russell County, Ky. It was first published on February 1, 1913.
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