Celina Proposes 30% Water Rate Hike, No City Pay Raises
Celina officials discussed a proposed budget Tuesday that includes a 30 percent water rate increase and no pay raises for city employees. Mayor Luke Collins said the state reviewed the financial plan and provided a positive assessment despite the difficult decisions. Collins said the city is facing the same economic pressures as residents from inflation. […]
Payne: Fed Interest Rate Cuts Signal Cautious Optimism
The federal interest rate cut some .25 percent Wednesday, and a Tennessee Tech professor said the response expected. Tech’s Dean of the School of Business and Professor of Finance Tom Payne said there has been some weakening in the economy. Payne said the Federal Reserve is trying to strike a balance with their mandate. “We’ve […]
Producer Price Index Up, Consumer Prices Pre-Cursor
The Producer Price Index surged last month, meaning higher prices could impact your pocketbook, according to a local economics expert. The Producer Price Index is used to measure price changes before they reach consumers. Wholesale inflation saw a 0.9 percent rise in July. Tennessee Tech Dean of the College of Business, Dr. Tom Payne said […]
School Age Care Program Increasing Tuition Rates
A tuition increase going into place for Putnam County’s School Age Care program, due to inflation and staff raises. Program Coordinator Krista Hamilton said the cost of many different items they use on a daily basis has increased over the last several years. Hamilton said she hopes the additional income will also allow them to […]
More Money, Better Funding Plan Coming For Centers
Putnam County Commissioners will vote later this month on increased funding for local senior center, then the county will get to work on a more systemized approach to budgeting. Centers in Baxter, Monterey, and Algood have been receiving $15,000 annually, with $40,000 allocated to Cookeville last year. Commissioners grew uncomfortable during the budget process when […]
Some $5 Million Loan Needed For Water Plant
Cookeville City Council will vote Thursday night to provide financing for the increased construction costs of its water plant expansion. Water Quality Control Director Barry Turner said the department wants to borrow up to an additional $5.5 million for the project. He said that after the department was approved for a loan in 2022, inflation […]
Warren Animal Center Facing Extreme Overcrowding
The Warren County Animal Control and Adoption Center continues to struggle with overcrowding, currently housing four times as many animals as its capacity. Director Sherri Bradley said that the facility was originally built to house 20 dogs but now the shelter has 80. She said the shelter usually receives five to ten abandoned dogs per […]
Monterey’s 3-Cent Property Tax Increase Workable
Monterey Alderman Bill Wiggins believes a three-cent property tax increase provides department heads with needed resources without imposing a dramatic impact on residents. Wiggins said Monterey’s property tax has been $1.36 for as long as he can remember. He believes three cents is a modest increase, especially compared to earlier versions of the budget that […]
Tech Lecturer: Fed Faces Challenges, Decisions With Inflation
Economists are in a tough spot trying to get inflation under control, according to a Tennessee Tech Lecturer, because of the “sticky wage, sticky price effect.” Federal Reserve Chair Jerome Powell admitted last week that there has been little progress in stabilizing inflation. Tech Economics Lecturer Chelsea Dowell said typically, as prices rise, wages rise […]
VEC Increasing Customer Charges Beginning April 1
Volunteer Energy Cooperative will raise its rates for the first time since 2005 as the company works to combat the rising prices of maintenance and materials. VEC Crossville and Monterey Service Area Manager Kevin Hembree said the residential customer flat rate charge will increase by $5.25, taking the price from $11.77 to $17. That rate […]
