August 13, 2015
It was just a year ago in August that JCWSA got a $50,000 bail out gift from the Jasper County BOC via the taxpayers. Frank Sherrill, the JCWSA engineer/consultant/manager, told the BOC not long after receiving this money that “they (JCWSA) were in the best financial shape ever.” See earlier blog concerning this.
According to the 31 year agreement this BOC signed, JCWSA got another $42,900 in December 2014, and this money is supposedly paid back by a tax assessment on the property owners along the water line. If property owners pay that tax or not, the county still pays JCWSA $42,900 each December for the next 30 years.
In June 2015 Frank Sherrill wanted the JCWSA board to request an advance from the BOC of half of the money that would be paid in December. Honestly, it is hard to believe they had the gall to make such a request, since “they are in the best financial shape ever” and because they said the 31 year agreement was all they needed to keep them healthy and happy from now on.
The July 14, 2015 minutes from the JCWSA meeting state, “Frank [Sherrill] said the County has indicated that a lump sum payment will be made on December 31st.” Thankfully, the BOC made JCWSA stick with the agreement that they instigated and wanted.
JCWSA has borrowed $40,000 from the Bank of Monticello that will have to be paid back by December 31st because it is a “tax anticipation note.” There was no mention of the interest rate or the actual amount borrowed in the minutes; the $40,000 is shown on the financial statements.
Other information in their minutes show as of July 2015:
- JCWSA has raised their water rates, and the average bill is now $54.34.
- From January- July they have had 11 new customers. Total customers is 395.
- Their short term debt is $107,500 and their long term debt is $2,158,000.
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