Tennessee Town Spends Money Without Council Approval For 20 Years

Town in Tennessee has just been spending money with no approval while giving zero “f*cks” on statewide accounting rules or laws. Now the town is in the eye of state auditors to fix it. Will anyone go to jail? Nope.

The Jackson City Council has until Jan. 25 to institute an audit committee, according to the Tennessee Comptroller of the Treasury, which oversees Jackson’s budget integrity.

Jackson Sun investigation revealed in October numerous issues with the City of Jackson’s budget practices in the last 20 years, including a pattern of over-funding nonessential projects and moving money from one project to another without city council approval.

Jackson found itself in this position after several years of poor financial oversight demonstrated a “material weakness in internal control” — a designation that requires the creation of an audit committee.

Jackson has overspent on its budget since 2013 and failed to get state authorization for debts since 2016, according to a letter sent from the comptroller to the city in November.

Source: Jackson Sun Newspaper

 

Published by Hoosier Econ

Located out of Central Indiana. Blogger of economics, politics and societal trends.

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