athens tn acfr fy2021

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Tennessee cities which has contributed to our economic development success. A detailed multi-year revenue 
trend analysis is utilized to assist in the budget process. 
Major Initiatives 
In August of 2019 the voters in Athens approved a $.75 increase in the local option sales tax. The 
City Council designated the first $1,000,000 collected annually to go toward the school building project 
and the City Schools will contribute $700,000 annually from savings due to the consolidation of four 
schools. The Council has approved borrowing up to $40,000,000 to construct the new elementary school 
on the property at City Park. Bids were approved in early 2021 and construction began on the facility that 
will hold all pre-k to fifth grade students for the City Schools. A portion of the building is expected to 
open in January, 2023 and the entire building will be opened in August, 2023. This will result in the 
closing of four older school buildings. 
The City issued $7,350,000 in bonds in October, 2021 for road improvements around the new school, 
renovations to the public works facility, renovations to City Hall, a fire training tower and a new animal 
shelter. These items will be completed over a two year period. 
Awards and Acknowledgements 
The Government Finance Officers Association of the United States and Canada (GFOA) awarded a 
Certificate of Achievement for Excellence in Financial Reporting to the City of Athens for its annual 
comprehensive financial report for the fiscal year ended June 30, 2020. In order to be awarded a Certificate of 
Achievement, a government must publish an easily readable and efficiently organized annual comprehensive 
financial report. The report must satisfy both generally accepted accounting principles and applicable legal 
requirements. 
A Certificate of Achievement is valid for a period of one year only. We believe that our current 
annual comprehensive financial report continues to meet the Certificate of Achievement program's 
requirements and we are submitting it to the GFOA to determine its eligibility for another certificate. 
The preparation of this report was made possible by the dedicated service of the entire staff of the 
finance department. Credit must also be given to the mayor, city council, and the city manager for their 
unfailing support for maintaining the highest standards of professionalism in the management of the City 
of Athens' finances. We also wish to express our sincere appreciation to our independent certified public 
accountants for their technical expertise and assistance. We recently learned that former finance director, 
Jackie Jenkins, passed away. She served from 1989 to 1994 and it was during her tenure that the City 
received the first two awards for 1992 and 1993. We will miss her and will always be grateful for the 
foundation she prepared, her work ethic and leadership she showed during her time with the City. 
Respectfully submitted, 
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Michael L. Keith, CPA 
Director of Finance 
December 23, 2021 
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