The town of Roseland has serious financial problems.
Although there's some disagreement...as to "how" serious.

One town councilman claims that the bank account used to cover Roseland’s day to day expenses has less than $1,000 in it.

The Town Clerk says that’s not true. Cheryl Gridley told Newscenter 16 that Roseland has just one account, and that the balance is $66,000.

Both sides agree that Roseland needs to borrow money to meet its future obligations.

And both sides blame the town’s financial problems on excessive legal bills.

Roseland last received a tax disbursement in December.

It totaled $112,000. Its next large payment should come in July or August.

Back in September of 2006, Roseland also received more than $76,000 in “Major Moves Money.” That’s the town’s share of proceeds from the leasing of the Indiana Toll Road.

State law restricts the use of that money to road construction projects, and economic development initiatives.

Town Council member Ted Penn says there’s no way Roseland could have legally met today’s payroll, without using Major Moves money.

Town Clerk Cheryl Gridley says Roseland’s $66,000 dollar bank balance does include Major Moves money. She says the state is aware that some of the cash is being spent.