The town of Signal Mountain’s finances are “in good shape,” according to Johnson, Murphey and Wright P.C.
During the Dec. 9 regularly scheduled town meeting, Brian Wright, a certified public accountant and shareholder of the firm, presented the town council with the town’s audit report for fiscal year 2013.
“All the funds operate at a surplus,” Wright said to the council. “Everything’s in great shape and you’ve got a great staff.”
Councilman Dick Gee asked Wright if he thinks the town is in good financial condition to borrow money, and Wright answered affirmatively.
After the meeting, Gee said at least part of the reason he asked that question is because of three major town projects that may need funding: James Boulevard’s rehabilitation, improvements to the Mountain Arts Community Center building and a new Public Works building.
“The estimated round number for all of these projects is about $2 million. We’re looking at some kind of debt funding, I believe,” said Gee. “Having your finances in very good shape when you go to borrow money … those are the questions borrowers ask.”