As far as Mayor Katie Whitley is concerned, the city of Hanceville is in good financial condition and should not have any long-term debt in the immediate future.

During the Hanceville City Council meeting Monday, Whitley presented the current financial status of the municipality, stating the city was solvent and still had over $1 million from the 2007-2008 budget. The budget, which was approved by the council in October of 2007, estimated expenses for the year to be $2,270,300.

Whitley said the city’s good financial status was due to good management.

“You manage … and you keep money well invested,” Whitley said.

City expenses over the past six months included payments on a $29,000 bill for a truck for the city fire department; $10,000 for the upkeep of Veteran’s Park; $120,000 for swimming pool renovations as well as $100,000 for the construction of a playground at the C.W. Day Park. The city also spent $35,000 for a leaf machine for the street department.

In November 2007, the city agreed to pay $125,000 in a descrimination lawsuit settlement with former Hanceville Police Chief Ed Potter. Whitley said the settlement money would not come from the city’s budget but instead from the city’s insurance.

Whitley said a complete list covering everything the city has paid for over the past six months would be complete in early April.

Whitley said the city council already has plans in motion for the use of a good portion of the $1 million still available from the budget. She noted that approximately $400,000 was transferred from the budget for a concession stand that will be constructed at C.W. Day Park at the end of this summer. She added the council would soon have to amend the budget since the concession stand expenditure was not included in the approved document.

“You can’t cover everything in the budget,” Whitley said. “It’s just a projection. You don’t live by it.”

Whitley explained the city’s projected yearly expenditures are routinely subject to change, much like the city’s projected yearly income.

“We took in more for business license (this year) than the budget projected,” Whitley said.

Along with the park, Whitley said the city would use some of the extra money to pay for road repairs on Commercial Street and Bluntsville Street.

“We’ll do some paving this summer,” she said. “Two streets have to be put out to bid.”

In her financial report, Whitley stated the only indebtedness the city has is a bond issue with the Hanceville Water and Sewer Board. The report indicated the city is required to pay one third of the bond, which should be paid off by 2009.