Auditor: Simpsonville 'strong financial position'

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By Walt Reichert

Auditor Bill Talley told the Simpsonville City Commission Wednesday the city is in good financial condition.

"You have enough cash to fund operations for a year even if there were no income," Talley said.

The auditor's report found the city had current assets of $1.5 million and total net assets of $5.7 million with about $113,000 in liabilities and $2.1 million in notes payable.

Talley noted the city had 13 times as much cash as liabilities.

"That puts you in a very strong financial position," Talley said.

At Wednesday's meeting, the commission also agreed to allow Mayor Steve Eden to sign an interlocal agreement that sets up the spread of payments to support the county's 911 service among Simpsonville, Shelbyville and Shelby County.

The original agreement was hammered out in 1996. Payment was based on population numbers and Simpsonville's share was set at 10 percent.

The updated version Eden signed Wednesday calls for Simpsonville to pay 5 percent of the cost of the service, Shelby County to pay 65 percent and Shelbyville to pay 35 percent.

Eden said the new percentage more accurately reflects the size of Simpsonville's population compared to that of the county and the city of Shelbyville. A tax on telephone service pays for the governments' share of the costs of 911 service.

The agreement will be reviewed every five years and percentages readjusted if necessary, based upon Census figures.