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City Council meeting review options with General Fund problems

2014-02-04 - City Hall, 116 Campbellsville Street, Columbia, KY - Photo by Municipal Revenue. This graph, included in a detailed analysis of the City of Columbia's Financial situation, was presented by Lile Cheatham and Debra Stearman, principals in Municipal Revenue Solutions, LLC, of Greensburg, KY to the Columbia City Council at its regular February 3, 2014, meeting. While no action was taken at the meeting, all council members and Mayor Mark D. Harris appeared open to options which would alter the downward slide of the City's cash reserves, which has dropped from around $2 million in January of 2009, to just over $500,000 four years later, in January of 2013. While the study is considered by many in the community as a pretext for raising taxes - with the most frequently mentioned new revenue source being a payroll tax - the Council has approached it as more or a diversification or "balancing" of revenue sources.
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