Local & Regional
Sat July 31, 2010
County Cash Crisis
By Associated Press
Tulsa, OK – Sequoyah County transfers money into empty fund
SALLISAW, Okla. (AP) Sequoyah County commissioners have approved the transfer of $250,000 from one of its transportation funds into the county's empty general fund.
Commission Chairman Bruce Tabor says the general fund is depleted, which means the county is out of money. He says there won't be any more money in the general fund until tax money is collected.
County Treasurer Tricia Yates says it could be October or November before tax revenues reach the county's coffers. Commission secretary Linda DOB's says the general fund was about $44,000 in the hole as of Tuesday.
Tabor says the county experienced the same problem last year and borrowed $850,000 from another transportation fund, but that fund didn't have as much money in it this year, leading commissioners to transfer the $250,000 from the second transportation fund.
Yates says the transfer of money is only temporary.
Information from: Southwest Times Record, http://www.swtimes.com/