During yesterday’s testimony during the trial in the matter of the State of Louisiana v Town of Jonesboro, the just released financial report for the fiscal year 7/1/2010 – 6/30/2011 was discussed.
One part of that report compiled by J. Walker & Company of Lake Charles referenced the ability of the town to remain a “going concern,” and was noted on page 43, note 16.
Increasing demands upon the cash flow of the town have caused the withdrawal of fund reserves to meet ongoing expenditures. Revenue increases would be modest at best therefore expend1tme reduction is critical for the town to continue as a going concern.
See here two of the things the town’s controversial mayor Leslie Thompson suggests as a cure for its financial woes.
Consideration of public vote on a ded1cated tax for the fire department
Rate increases for water, sewer and garbage collection fees as appropriate.
See here the document.