County has about $6.6 million available to complete the Tired Creek Lake project

Grady County officials have pulled together financial information regarding Tired Creek Lake to show income and expenses connected to the project, at the behest of Grady County Commissioner T.D. David.
According to the numbers provided by Grady County Administrator Carlos Tobar, the commissioners have approximately $6.6 million left that they can spend on the lake project.
“At some point we’re going to have to see an establishment of value surrounding the lake,” said Commissioner David.
“I think this is good for the people to have. I would rather have somebody fuss at me for the truth rather than fuss at me for something they have made up. I thank you fellow commissioners for seeing the value in this,” David said.
The financial information goes back only to 2004, according to Tobar, who said that is as far back as the county’s CSI accounting software records go.
According to the tabulations, income connected to the project during the 11.5 years totals up to $30,494,217. Expenditures during that same time frame are $23,912,608, resulting in the ending fund balance of $6,581,609.
Costs associated with the dam are the biggest expenditure at $8.78 million; followed by mitigation costs of $5.44 million.
Other expenses include engineering fees of $2.3 million; professional fees of $1.8 million; and legal fees of $1.9 million
A 2010 Revenue Bond of $15.37 million is the largest amount of income, followed by this year’s revenue bond of $9.99 million.
The chart shows revenues and expenditures through 2014, and then has columns indicating how much is spent and  taken in each month during the current year. Money spent this year totals $3.43 million, while it shows an income of $10.01 million.
County officials have yet to satisfy the U.S. Army Corps of Engineers with regards to concerns regarding the county’s mitigation plan.
Once the issues regarding mitigation can be resolved satisfactorily, the county can begin filling the lake, but not until then.
Proposed lake amenities are currently on hold until the exact cost of mitigation can be determined, according to county officials.

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