October 2013 Group Watch: T-Town Financially Safer Than Most
Tuscaloosa Mayor Walt Maddox said recently that despite many parts of the federal government shutting down because of the budget impasse in Washington, his city is well shielded financially. Strong reserves will enable the city to handle cash flow in the short term, but in the long-term, projects relating to recovery from the 2011 tornado could be delayed. Tuscaloosa was devastated by the storm that destroyed 12 percent of the city. Maddox attributes the city’s prosperity to healthy financial reserves and long-term planning. While most observers believe the budget impasse will be short lived, if it goes on for months, cities like Tuscaloosa as well as those on the east coast and in the Midwest will experience some effect from congressional inaction.
