Last updated: June 24. 2014 8:17AM - 944 Views

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I just read the editorial (“Wasted efforts,” June 20) concerning the current budget discussions in the town of Bladenboro, in which the writer said, “There seems to be only one logical option to keep Bladenboro off the path of a Detroit-like meltdown, and that is to approve a 2-cent property-tax increase.”


Good grief! That is a completely absurd and untrue statement. I don’t blame the writer for omitting his name. The truth about the financial condition of the town of Bladenboro can be found in the official financial documents.


According to the independent auditor’s report (Thompson-Price, Scott and Adams), dated Sept. 11, 2013, on page three under “Financial Highlights” …


— Bladenboro has a current net worth of more than $9.7 million, and it grew by more than $302,000 last year.


— Bladenboro had a fund balance of nearly $663,000 (nearly twice as much as is required by state law), and it grew by more than $67 last year.


— Bladenboro’s debt decreased by nearly $14,000 last year.


— Bladenboro had an unassigned fund balance of more than $213,000 last year.


And from page nine of the budget proposal for the next fiscal year, the current government projects, that there will be no fund balance appropriated during the current fiscal year.


“Detroit-like meltdown?” Where did you get your figures? I invite the writer of that editorial to read the documents I referenced herein. I’m sure it would be a grand revelation.


Robert P. Armstrong


Bladenboro

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