Towns of Hornsby and Toone Fail to Submit Required Annual Budget by Deadline
According to the Tennessee Comptroller’s office, the Town of Hornsby and Town of Toone failed to submit their annual budgets by the required deadline. Only 12 cities in Tennessee failed to meet the deadline, two of which are in Hardeman County. The 2023-2024 fiscal year budgets should have taken effect on July 1, 2023, but neither municipality has submitted its budget for approval to the Comptroller’s Office.
A letter sent to both municipalities on September 11, 2023, from the Tennessee Comptroller states, in part, “As the governing body, you have a responsibility to file the annual budget with our office each year for approval. This letter is notification that we are not approving the fiscal year 2024 budget because it was not submitted to our office within two months of the beginning of the fiscal year. As a result of not submitting the budget to our office within the above timeframe, the Town may not issue debt or financing obligations until our office has approved next year’s budget (Tenn. Code Ann. § 9-21-404).”
It was also noted neither Hornsby or Toone have submitted an audit report for fiscal year 2022-2023. Those audits were due by December 31, 2022. Additionally, the Comptroller never received a fiscal year 2022-2023 budget for Hornsby last year.
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