As anyone living in Nashville who is paying the least bit of attention now knows, Nashville has a very serious financial problem. You could call it a "crisis." There are two parts to this. The first is that our budget does not balance and we have been selling off assets to fill the gaps. The State has threatened to take over Metro government if Metro does not correct this. They have the power to do so. The State could cut all but non-essential services and could force a property tax hike.
The other issue is that our water system is crumbling, needs more investment and our rates are too low to meet the needs of the system. My view is that this did not happen overnight. Years of mismanagement led to this.
To learn more about these issues and to see what the State really told Nashville and to hear what the Council heard, watch the above video of the joint Budget and Finance Committee and Public Works Committee of the Council. See timestamp 0:00:00 to 1:01:23 for the Metro Water Services presentation. See timestamp
1:01:43 to 2:10:25 for the Tennessee Comptroller presentation.
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