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Sumner County ECC reports $6.3 million on deposit; budget on track as TECB payment headed to county
Summary
Committee heard a financial report showing $6.3 million held across accounts, the budget 8.9% spent for the year, and an expected one-time TECB excess payment of $80,816; the report was accepted by the committee.
At a meeting of the Sumner County Emergency Communications Committee, the chair reported the committee’s account balances and early-year budget status. "In the LGIP, dollars 67,000, in the regular checking account at Allstate, we have $1,400,000 and in the money market account, that total is $4,035,000 for a total at Volunteer Bank for $6,300,000," the chair said.
The chair said the money market account had been yielding better interest after staff moved funds and that the committee is 8.9% into its fiscal-year budget with revenue "as expected." He also reported a roughly 33% collection rate on one line of revenue. The auditor is reviewing FY2025 paperwork.
The chair said the committee should expect an excess TECB (Telecom Electronic 9-1-1) payment this month of $80,816, described as a one-time fund that is not routinely budgeted because the amount is uncertain.
The financial report was presented to the committee and a motion to accept the report was made, seconded and approved by members in attendance.
Next steps: the committee will continue routine financial monitoring and the auditor will finalize its review of FY2025 materials.
