Vernon Financial Troubles - Newschannel 6 Now | Wichita Falls, TX

Vernon Financial Troubles

Vernon Financial Troubles

Vernon city leaders met with concerned citizens to address financial shortfalls brought to light by a recent audit.

The city has a deficit of nearly $605,000.

Vernon legally transferred employee benefit funds to the general fund without approval or knowledge from city commissioners.

The city trust for the employee fund is made up of four members, including the soon to be retired City Manager Mitch Grant.

Vernon now owes it's employee fund roughly $948,000. The city is in the red, accountant Michael Edgin is warning that the city implement a hiring freeze, and not take on any more debt by borrowing money. Edging suggested not only raising taxes as a way to get out of debt, but also to increase revenue for the city which has made less than what it is currently spending.

Vernon is expected to make an amendment to the current Employee Benefit Fund that would call for the commissioners to be briefed and vote in favor of any future financial moves from the fund.

Jack Carney, Newschannel 6

  • News HeadlinesNewsMore>>

  • 4 dead in Waffle House shooting in Tennessee; suspect sought

    4 dead in Waffle House shooting in Tennessee; suspect sought

    Sunday, April 22 2018 8:34 AM EDT2018-04-22 12:34:45 GMT
    Sunday, April 22 2018 5:49 PM EDT2018-04-22 21:49:04 GMT
    A customer at the restaurant took the gun from the suspect, who then took off his coat and fled the area. (Source: CNN)A customer at the restaurant took the gun from the suspect, who then took off his coat and fled the area. (Source: CNN)
    Police in Tennessee say three people were killed and four were injured in a shooting at a Waffle House restaurant early Sunday. (Source: CNN)Police in Tennessee say three people were killed and four were injured in a shooting at a Waffle House restaurant early Sunday. (Source: CNN)

    A customer at the restaurant took the gun from the suspect, who then took off his coat and fled the area. 

    A customer at the restaurant took the gun from the suspect, who then took off his coat and fled the area. 

  • Man killed in random knife attack at California steakhouse

    Man killed in random knife attack at California steakhouse

    Saturday, April 21 2018 5:44 AM EDT2018-04-21 09:44:08 GMT
    Sunday, April 22 2018 5:47 PM EDT2018-04-22 21:47:42 GMT
    (Ventura County District Attorney's Office via AP). This undated photo provided by the Ventura County District Attorney's Office shows Jamal Jackson. The homeless man has been charged with murder in a random stabbing attack in which a man was killed wh...(Ventura County District Attorney's Office via AP). This undated photo provided by the Ventura County District Attorney's Office shows Jamal Jackson. The homeless man has been charged with murder in a random stabbing attack in which a man was killed wh...

    A homeless man has been charged with murder in the death of a California father who was stabbed in the neck as his 5-year-old daughter sat in his lap in a crowded beachside steakhouse.

    A homeless man has been charged with murder in the death of a California father who was stabbed in the neck as his 5-year-old daughter sat in his lap in a crowded beachside steakhouse.

  • Syracuse fraternity permanently expelled over racist video

    Syracuse fraternity permanently expelled over racist video

    Saturday, April 21 2018 5:46 PM EDT2018-04-21 21:46:07 GMT
    Sunday, April 22 2018 5:47 PM EDT2018-04-22 21:47:23 GMT
    Syracuse University permanently expels fraternity for "extremely racist" video. (Source: WSYR/CNN)Syracuse University permanently expels fraternity for "extremely racist" video. (Source: WSYR/CNN)

    Syracuse University has permanently expelled a fraternity over an offensive video that fraternity members say was intended as satire.

    Syracuse University has permanently expelled a fraternity over an offensive video that fraternity members say was intended as satire.

Powered by Frankly