The Return of Former County Fiscal Agent/Financial Advisor Steve Bates?

December 20, 2022
By: Dwayne Page

The return of Steve Bates?

Two and a half years ago the former county commission voted 8-6 to defund the county’s fiscal agent/financial advisor position held by Steve Bates, of Guardian Advisors, LLC based in Hohenwald.

The idea at the time was the county could save the $15,000 a year it was paying Bates for annual budget preparation and secure the services of the County Technical Assistance Service (CTAS) who could do the same work free of charge. But now with potentially two major building projects to be considered by the county commission in the near future, a new jail expansion or justice center and a new elementary school, County Mayor Matt Adcock is recommending to the county commission that $22,500 in funding annually be approved to contract with Bates for financial planning and budget preparation services going forward.

County Mayor Adcock addressed the county commission Monday night during its informal committee of the whole meeting, and he introduced Bates to the new commissioners. If approved Thursday night during the county commission’s regular monthly meeting, funds for the position would be taken from the county general fund balance to finish out the fiscal year.

For several years Bates had worked for the county as fiscal agent/financial advisor, a contracted service. He was brought in during the administration of former County Mayor Mike Foster and stayed on under former County Mayor Tim Stribling until Bates’ position was defunded in July 2020. His purpose was to give financial direction to the county mayor and members of the budget committee in the preparation of the annual spending plans and they relied on the computer software Bates used to format the budgets because it was easy for them to follow showing actual and proposed budget numbers for the current and following year as well as audited financial performance numbers from the two previous years.

After Bates’ departure, some members of the former commission regretted the decision to drop him and in July 2021 made an unsuccessful attempt to bring him back on a 7-4 vote in favor with eight votes needed for passage.

From that 14-member county commission when Bates’ position was defunded in 2020, only four members still remain and three of them supported Bates at that time.

County Mayor Adcock, who was a sixth district county commissioner at the time, was one of those members in 2020 who voted to defund the Bates’ position, but he has since had a change of heart.

Although CTAS was a valuable asset to the county, Mayor Adcock said Monday night he thought Bates, as a paid contracted service, could do more for the county.

“I was one of the county commissioners at the time that voted him (Bates) out and not have a (paid) financial advisor, but with us now coming into a new year with a lot of big projects I feel like Steve could bring more to the table and give us a history lesson on ourselves (county) since he was here previously for so long,” said County Mayor Adcock.

“I recently met with Steve. He came to my office and talked to me and said he would love to come back and help us out if we ever needed anything. He has a lot of background with DeKalb County Government and experience with projects we have done and with just his history alone it seemed like it could help us tremendously,” said Adcock.

“My primary role is to issue bonds and be a financial advisor to local governments and I have issued probably a billion dollars in bonds over the years in my career. I have issued bonds for broadband, schools, bridges, water and sewer treatment plants, etc.”, said Bates in his remarks to the county commission Monday night.

“I actually got into doing budgets when Mike Foster was here and at the time, I really didn’t want to do that, but I agreed to help him, so I started with DeKalb County (being financial advisor and doing budget preparation) and then I began working with Wayne, Lawrence, and Decatur Counties,” said Bates.

“My role is to look ahead and what I do is a blend of the law, accounting, and investment banking all rolled into one,” Bates continued. When you start talking about doing projects, what you really need is someone who can make some projections for you and my goal would be to help you do your project at the lowest cost and protect your finances. I don’t care who buys your bonds. I am totally independent, and I don’t have any conflict of interest. I want the same thing you want, and I want the project structured in a way that matches the debt service requirements of DeKalb County. That’s all and I do that for every community I serve. I can help you with financial planning, get you ready to issue bonds when you are ready, and have your finances in order so you maintain a good bond rating to protect your credit rating,” Bates said.

Should the county initiate a building project, Bates said he could help with the issuance of bonds.

“Typically, if you hire me to do your budgets, I will write your bonds,” said Bates, “I create bonds and then I put them out for sale to the banks and once I do that, they are advertised in a platform in New York City, and it goes global. I have kept the same fee for 30 years and that is five dollars per one thousand on general obligation bonds so if you do a one-million-dollar bond that is $5,000. If you do $10 million my cost is $50,000. That is the only fee I get on bonds except for reimbursement for mileage and incidentals like postage. It doesn’t matter who you get to issue the bonds somebody is going to earn that fee and there are fees other than mine that are also involved in the issuance of bonds,” said Bates.

If the county is seriously considering a building project, Bates urged the commissioners not to wait too long and possibly get something in place by next September due to further projected rising interest rates.

The county commission will meet in regular monthly session Thursday, December 22 at 6:30 p.m. in the auditorium of the Mike Foster Multi-Purpose Center.

December 19, 2022
By: Dwayne Page

God’s Food Pantry continues its mission to feed the hungry through the holidays and year-round.

For 15 years the pantry has provided food and other essentials to help meet the needs of the medically frail and elderly, children, veterans, the homeless, and the working poor. The pantry receives no local, state, or federal government funding but is able to operate from donations of caring individuals and businesses, among others.

Pat Zornow, God’s Food Pantry volunteer and coordinator, said between 800 and 900 families are served per month which includes about 80 home deliveries to those with special needs.

Food is distributed on the first Friday after the first Thursday and on the third Friday of every month from 9:00 a.m. – 12:00 noon from the pantry at 430 East Broad, Smithville in a drive through pickup line. A long line of cars forms along East Broad Street near the pantry every time the twice a month event is held. Smithville Police are always on site to assist with traffic control and the sheriff’s department provides inmate work crews under guarded supervision by correctional officers to help pantry volunteers with the distribution.

The first Friday the food boxes consist basically of staples with perishables and the third Friday is the staples, perishables, and meats. Beverages are included when possible. Last Friday, December 16 was the final regular food distribution before Christmas and families got a little something extra. “They received holiday food boxes donated by Food Lion, staples from our food pantry such as additional rice, pasta, sauce, and we put in perishables including fruits and vegetables we had received or purchased not only from Food Lion but from Second Harvest, and then we added breads and meats. For families of four or more, they got a big turkey while others had chickens and other meats we had put in their boxes,” said Zornow.

The next food distribution is Friday morning, January 6.

Support for the pantry comes from a variety of sources. “As far as monetary donations, they come from all over. Even as far as Nashville, Franklin, etc,” said Zornow. “Individuals also send us checks or drop in and visit us. Many times when its pantry distribution time, volunteers will come in and help us. We also get support from businesses and organizations. Tenneco is wonderful to us. They gave us 156 turkeys they had leftover plus their pies. We got 140 pies from them and they (Tenneco) do this annually. We collect four times a week from Food Lion and we will go over and get whatever they have to donate to us and if we can’t get over there many times they will put everything in their truck and bring it to us directly. We also purchase from Wal-mart and Larry’s Discount Grocery if we need something and can’t find it. If we can get food locally we’re going to do business locally as much as we can,” said Zornow.

Aside from the regularly scheduled food pickups, emergency distributions are made 24/7 when requests come in for food.

Lodging can also be arranged for the homeless and others needing shelter as well was temporary housing for those willing to work to get back on their feet.

“We will help with the first month’s rent and utilities if they are holding a job, especially the younger ones, but they must show me their paycheck to prove they have employment because they must take ownership in this effort,” said Zornow.

Financial help is provided to the medically frail and elderly among others. “We help with their utilities, medications, and we get clothing for them, and much more as far as meeting expenses for things they need. It’s the whole person approach,” Zornow continued.

For those with children, the pantry makes sure the kids have gifts for Christmas. “These are children served by this pantry. We go from birth up to 18 years of age and we will be serving more than 200 children this year,” said Zornow.

The pantry is currently staffed by 25 active volunteers who donate their time to help. Zornow said for them and her it is a labor of love.

“We see many more people in need these days, needing food, needing help. I don’t want to see their electricity turned off and them having to live in the cold. We have to see to their needs. I don’t want to see children without coats. Right now, for Christmas a mother called me and said her child had only a real thin parka to wear. He has neuropathy and is in a wheelchair and only has one coat. I told her a coat should not be a Christmas present for him, that is a necessity, so I got him a real nice Parka from Old Navy,” said Zornow.

People come from far and near to be served by the pantry and Zornow said no one is means tested or questioned, but if anyone shows up intoxicated, using profanity or causing trouble they will be turned away.

Gods Food Pantry can be reached to meet a dire emergency need anytime at 615-597-4540. Leave a message and someone will promptly return your call. The pantry also has a post office box. Its Gods Food Pantry, Post Office Box 807, Smithville.

December 19, 2022
By: Dwayne Page

The DeKalb County Tigers dropped their first game of the Adidas Shootout at Murfreesboro Riverdale Monday losing to Mount Juliet 63 to 59.

The Tigers (7-4) will face Memphis Academy of Science & Engineering (Memphis School of Excellence) on Tuesday, December 20 at 1 p.m. on day two of the shootout and WJLE will have LIVE coverage.

In the game Monday, the Tigers led Mount Juliet 17 to 12 after the 1st period and 36 to 26 by halftime but trailed 45 to 43 after the 3rd period and lost 63 to 59.

Conner Close and Elishah Ramos each scored 15 for the Tigers followed by Robert Wheeler with 14, Zack Birmingham 11and Ean Jones and Seth Fuson each with 2.

Meanwhile the DCHS Lady Tigers will compete in the Renasant Bank Christmas Tournament at Maryville December 27-30. The Lady Tigers will first see action in that tournament against McMinn Central on Tuesday, December 27 at 4 p.m. (eastern time). WJLE will be unable to broadcast the game LIVE.

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