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Facing The Inability To Pay Some Bills On Time, Century Shuffles Fund Balances
June 2, 2020
The Century Town Council voted Monday night to move funds between accounts in order to pay bills before they become past due.
The council voted to move Local Option Sales Tax (LOST) dollars in the amount of $78,880.92 to the water fund to pay bills that are generally due by mid-June. The bills are for materials or labor related to a water interconnect and water well repair at Century Correctional Institution after a well failure in early May.
Interim Town Manager Vernon Prather said the water fund had a bank balance just under $11,000 as of last week, and the Florida Department of Corrections currently owes the town $36,742.
LOST provides discretionary funding for local governments in Escambia County for infrastructure projects that have a lifespan greater than five years.
Prather also asked for the transfer of LOST funds to cover a $36,057 water fund truck purchase in 2018 and $57,969 to cover current year capital outlay projects. The council tabled action on the request until they see a LOST fund balance sheet. The fund has a balance that is somewhere about the $900,000 and receives sale tax funds monthly.
The council also voted Monday night to:
- Make a monthly $5,000 transfer from the garbage fund to the gas fund through September 2020;
- Close an old tornado relief fund and transfer $11,583.46 from an insurance payment not used for relief to the general fund;
- Request a $7.200 payment for a September 2019 audit from a consultant. The money will go into the general fund.
Prather wrote in a memo that the recommended transfers would enable the town to “sustain payroll and current bill thus helping any cash crunch that may arise”. He wrote that if need, the town could transfer up to $31,829.86 from an account that receives rent for town facilities and $50,35.81 in water fund reserve funds.
Comments
8 Responses to “Facing The Inability To Pay Some Bills On Time, Century Shuffles Fund Balances”
Does this sound like something out of the past? Surely you don’t want to put all that
money in the hands of people that can’t keep the records straight.
Who in their right mind would do business with Century?
Cannot get blood out of a rock… good luck creditors
SO…what happened to getting all the gas meters installed?? You have adequate staff to finish the job.. How bout it Mr Prather instead of letting your good ole buddies do it. Utilize the employees you have. If you finish the job, there would be some money made and saved.
The LOST fund has a balance that is somewhere about the $900,000 and receives sale tax funds monthly.
Maybe I can get a loan now?
Well, surprise! Century is still robbing Peter to pay Paul. Even a new city manager can’t straighten out this mess. I am (again) totally disgusted with them all.
sounds like the shell game.
Well well well here we go again?Over the past few years I always get a good laugh reading articles about the good old town of Century and the nimrods trying to manage it????I smell another Rat always shifting money from here to there or to the hip pocket?