During the recent Board of Mayor and Alderman Study Session on December 19, 2024, significant financial updates were presented that will impact the City of White House and its residents. The meeting focused on the city's financial statements, highlighting changes in cash flow, debt, and capital assets that reflect ongoing development and growth in the community.

One of the key takeaways was the increase in the city’s cash reserves, which rose by approximately $1.5 million, or 7% from the previous year. This growth is attributed to various financial adjustments, including the reclassification of certain funds as restricted cash, which indicates that while the city has these funds available, they are earmarked for specific projects and cannot be used for general expenses.

The meeting also revealed a notable rise in receivables, particularly from property taxes, which increased significantly due to ongoing projects in the area. This uptick in receivables, amounting to an increase of about $880,000 or 40%, is seen as a positive sign of the city’s expanding tax base as new developments continue to emerge.

However, with growth comes increased debt. The city’s liabilities rose by approximately $12 million, primarily due to ongoing projects such as the park center and treatment plant. This increase in debt reflects the city’s commitment to enhancing infrastructure and services for its residents.

Another highlight from the meeting was the substantial increase in impact fees, which surged by about $5 million, or 24%, compared to last year. This increase is a direct result of rising development activity and will contribute to funding future city projects.

Overall, the financial updates presented during the meeting underscore the city’s growth and the financial strategies in place to support ongoing development. As White House continues to expand, these financial decisions will play a crucial role in shaping the community's future and ensuring that it meets the needs of its residents. The Board of Mayor and Alderman will continue to monitor these developments closely as they plan for the city’s financial health moving forward.