Archive for November, 2018

Ruston City Council Monday

11/03/2018

Ruston’s Board of Aldermen will meet Monday, November 5, 5:30 PM, Ruston City Hall, 401 North Trenton.

Here’s the agenda.

On the agenda as distributed to council members, media, and other citizens is consideration of the ordinance that would levy a 1.75% tax on restaurants, motels, and theaters.

A public hearing is also listed on that agenda. Members of the public may comment on the proposed ordinance during that time.

Ms. Carolyn Cage – Ward 1, Ruston, Louisiana; 243-2492
Ms. Angela Mayfield – Ward 2, Ruston, Louisiana; 243-0998
Mr. Jedd Lewis – Ward 3, Ruston, Louisiana; 548-1036
Mr. Jim Pearce – Ward 4, Ruston, Louisiana; 548-9422
Mr. Bruce Siegmund – Ward 5, Ruston, Louisiana; 614-4352

Audit: Town of Sterlington Broke

11/01/2018

Audit suggests Sterlington in dire financial straits

By Zach Parker | zach@ouachitacitizen.com

The town of Sterlington engaged in deficit spending for eight months in 2017 and may be unable to continue operations in the next year, according to a recent audit.

Bosch & Statham, a certified public accounting firm in Ruston, prepared the audit of Sterlington’s finances for the fiscal year ending Dec. 31, 2017.

The audit’s report on Sterlington’s finances was bleak. According to the audit report, Sterlington has incurred millions of dollars in bonded indebtedness, may be unable to pay back that debt, continues to incur major legal expenses, has overspent its budgets for several months, has not realized large sales tax receipts as anticipated, and has a negative balance of some $157,000 available for spending.

During 2017, Sterlington’s debt increased by $7,710,000, including $4 million in sales tax revenue bonds to finance the sports complex and $4 million in utility revenue bonds to finance water and sewer projects.

The sports complex also has caused financial troubles for Sterlington, according to auditors.

“The Town hasn’t seen the increase in sales tax revenues that was expected which could lead to future problems paying the debt it incurred to do the construction,” stated the audit report.

See here the complete report.