Davidson Town Manager Leamon Brice and Finance Director Eric Hardy will present their proposed 2010-11 budget at the Town Board’s regular monthly meeting Tuesday night. The $8.4 million plan proposes new fees and cost cuts, as well as dipping into reserves, to provide a $2 million subsidy to the town-owned MI-Connection communications system. Read the full story

Detail of the LGC letter. Download copies of documents below.

After letter raising concerns, board outlines plans to improve

By DAVID BORAKS
DavidsonNews.net

State officials say the MI-Connection cable system, owned by the towns of Mooresville and Davidson, has “serious financial problems” and “signs of financial weakness” that could keep it from meeting obligations to creditors, employees and taxpayers. In a letter to the MI-Connection board, the state Local Government Commission (LGC) of the state treasurer’s office says the board must take “corrective action.” Read the full story

The MI-Connection cable system board on Thursday will review a preliminary report by a media consultant and consider whether to hire the firm for a closer study to measure the system’s financial performance against cable industry norms.

The review by consultant Buford Media Group of Tyler, Texas, is on the agenda at the board’s monthly meeting Thursday at 7:30 a.m. at MI-Connection headquarters, 420 S. Academy St., Mooresville. Read the full story

James R. Miller Jr

By DAVID BORAKS
DavidsonNews.net

The MI-Connection cable and internet system has let go its operations manager and plans to replace contract installers with a half-dozen new in-house employees as part of an ongoing restructuring designed to stabilize its finances and deliver a profit. The system’s chief says bringing contract work in-house could save $50,000 a month.

Operations Manager James R. “Junior” Miller, who oversaw a major system upgrade in 2008 and 2009, was laid off in January as part of the restructuring. Read the full story

By DAVID BORAKS
DavidsonNews.net

MOORESVILLE – The MI-Connection communications system board Thursday heard a report from its outside auditor confirming that the system owned by the towns of Davidson and Mooresville lost $6.4 million in the 2009 fiscal year that ended June 30.

Meanwhile, Pete Teague of audit firm Dixon Hughes also raised a red flag, telling the board that as a government-owned entity, MI-Connection must acknowledge in its formal budget how it pays for ongoing losses – currently with borrowed money. Read the full story

By DAVID BORAKS
DavidsonNews.net

The board of the town-owned MI-Connection cable system on Thursday approved a $23 million budget for 2009-10 that trims some expenses and anticipates higher revenues from the company’s new “triple-play” lineup of TV, telephone and internet services. Read the full story