Jackson City Council members meet to discuss finances

JACKSON, Tenn. — City Council members met to discuss the funding of two new public schools in the Hub City.

“So… the Council is very divided on this one,” said District 1 Councilwoman Vicky Foote. “Some want to build it… some are worried about the debt that would be incurred.”

The council has recruited the help of a financial adviser to help with their budgeting.

“Based on the analysis if expenditure growth continues the way it’s going, then there will be some considerations that the city will have to make,” said financial adviser Jonathan McCoy.

McCoy also says that the council would have to reign in their expenses or provide sources of other revenue growth in order to continue on their current path.

“We all think it’s a wonderful idea… we just are very conscious of the obligations we already have,” said Foote.

One of the possible new schools will be located on the University of Memphis-Lambuth campus.

“It’s educationally sound… but we are trying to see if it is financially sound for the city at this time,” said Foote. “We tabled it at the last meeting to get more information… and I think we’re ready for the vote.”

The official vote will take place Tuesday December, 4.