Scope of finance problem in Pike County becoming more clear

The scope of the problem in the Pike County Finance Department is becoming more clear as work begins to address it.

Pike County Treasurer Frankie Stacy said the staff members in the finance department are working to reconcile 9 months worth of financials — which officials have said was left behind by former treasurer Johnda Billiter — and they have about two weeks in which to complete it.

Stacy was appointed as county treasurer Wednesday, succeeding longtime treasurer Billiter, who resigned and retired Tuesday amid scrutiny over her job performance. Health and personal issues were cited for Billiter’s exit.

Stacy said the finance department must reconcile the county’s 2017 finances in order to have a budget approved by the department of local government for the 2018-19 fiscal year. The first three quarters of finances must be reconciled by June 30, with the final quarter financial reconciliation due by mid July.

The task, he said, is a bit daunting.

Pike County Treasurer Frankie Stacy

Stacy said the county’s budget totals about $36 million, with only about $10 million in discretionary funds available. Of that $10 million, about $3.6 million comes from the county’s occupational and net profits tax, which is budgeted into the 2018-19 draft budget.

Officials have, in the past months, proposed repealing those taxes. Pike Deputy Judge-Executive Herbie Deskins said Wednesday that proposal could still be on the table, along with a raise for county employees in the amount of 5 percent.

Stacy, echoing comments from his predecessor, said he does not believe the county can balance its budget without those occupational and net profits tax funds.

Stacy said, he believes the finance department can get the financial ship righted by the DLG’s June 30 and July 15 budget deadlines.

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