District 3 City Council candidates disclose financial statements prior to Jan. 17 election

Ussery discloses ownership of properties, stocks while O'Donnell discloses no trusts, or commercial property ownership

By Brandi Hart
McKinneyUpdate.com

Created at 10:40 p.m. on Jan. 6, 2009

The two, separate financial statements that the candidates for the Jan. 17 District 3 City Council special election that were released on Jan. 6 show that both Travis Ussery and Robert O'Donnell are members of partnerships.

The statements showed that Ussery disclosed information about various stocks, bonds and rental income while O'Donnell opted to not disclose any information about stocks, bonds, rental income, or even some commercial properties owned by a partnership that he manages. The statements are the first to be submitted by candidates in a McKinney council election as the council only recently voted to require candidates to complete detailed financial statements when running for office.

Ussery's statement shows that he owns his own company, Travis Ussery CPA that is located at 209 Kentucky St. According to his personal financial statement Ussery also owns duplexes along Hunt and Graves streets. Ussery's statement showed that he receives $10,000 to $24,999 in gross rent from duplexes at 209 and 210 Graves St.; $10,000 to $24,999 in gross rent from duplexes from 1600 to 1602 W. Hunt St.; $10,000 to $24,999 in gross rent in duplexes at 1604 to 1608 Hunt St.; $10,000 to $24,999 in gross rent from duplexes at 1605 to 1607 Hunt St.; and $10,000 to $24,999 in gross rent for a residence at 211 N. Kentucky St. He also listed all of the duplexes as interests in real property. The limited partnership that Ussery owns the duplexes in is Finmincus, LTD.

Ussery also owns lots on Herndon Street, near downtown McKinney; 208 N. Kentucky St; and is a partial owner of approximately 45 acres on four separate lots along Farm-to-Market Road 2862 in Anna, per his financial statement.

Ussery also owns the following shares of stocks: 100 to 499 shares in Alcon, Inc.; less than 100 shares in AT & T; 100 to 499 shares in Bank of America; less than 100 shares in Berkshire Hathaway-Class B;100 to 499 shares in Black and Decker; 100 to 499 shares in Bristol Myer Squibb; 100 to 499 shares in Chevron; less than 100 shares in Comcast CRP; 100 to 499 shares in Commercial Metal Corp.; 100 to 499 shares in Citigroup, Inc.; 100 to 499 shares in Coca-Cola; 100 to 499 shares in Colgate Palmolive; 100 to 499 shares in Colox, Inc.; 100 to 499 shares in Duke Energy, Inc.; 100 to 499 shares in Encore Wire Corp.; 100 to 499 shares in Feder Corp.; 100 to 499 shares in the Ford Motor Co.; 100 to 499 shares in General Electric; 100 to 499 shares in Hewlett Packard Co.; 100 to 499 shares in Holley, Corp.; 100 to 499 shares in Home Depot, Inc.; less than 100 shares in Idearc, Inc.; 100 to 499 shares in Johnson & Johnson; 100 to 499 shares in Kansas City Southern; 100 to 499 shares in Merck & Co., Inc.; 100 to 499 shares in Merrill Lynch Per Capital Trust; 100 to 499 shares in Microsoft, Inc.; 100 to 499 shares in Northrop Grumman Corp.; 100 to 499 shares in Oracle Corp.; 100 to 499 shares in Integrys Energy Corp.;100 to 499 shares in Pepsico, Inc.; 100 to 499 shares in Peiler, Inc.; 100 to 499 shares in Proctor & Gamble; 100 to 499 shares in Public Storage, Inc.; 100 to 499 shares Qwest Communication International; less than 100 shares in JM Smucker, Inc.; 500 to 999 shares in Southwest Airways, Inc.; less than 100 shares in St. Paul Travelers, Inc.; less than 100 shares in Spectra Energy; 100 to 999 shares in Verizon Communications; 100 to 499 shares in Visteon Corp.; 100 to 499 shares in Vopaphone Airtouch; 100 to 499 shares in Wells Fargo Co.; 500 to 999 shares in Wal-Mart Stores, Inc.; 100 to 499 shares in Zimmer Holding, Inc.; 100 to 499 shares in Yum Brands, Inc.; 1,000 to 4,999 shares in Plano Bancs (Legacy Texas Banc); and 1,000 to 4, 999 shares in Independent Bank Group subsidiaries.

Ussery also listed a $10,000 bond in the General Motors Acceptance Corp. that he owns. Ussery also listed owning the following mutual funds: 500 to 999 shares in the American Group Fund; 500 to 999 shares in American Fund's Balanced Return Fund; 500 to 999 shares in Franklin High Yield Tax Free Fund; 100 to 499 shares in the Growth Fund of America; and 200 to 499 shares in the Investment Co. of America.

O'Donnell listed his occupational income as working as a court appointed child advocate; manager of the O'Donnell Family Partnership; manager of R & J Noes Family Partnership, L.P.; owner of Child Support Systems of Texas DNC; and owner of Triphammer Development Corp., Inc. He also listed the following as business entities: investment holding manager for Newton Court, LLC; investment holding manager for R & J Notes Family Partnership, LP; property manager for the O'Donnell Family Partnership, L.P.; financial software services for Child Support Services of Texas; real estate holding for Triphammer Development Corp., Inc.; construction of MGT Concrete, Inc.; public education and awareness of Citizen Child, Inc.; public education and awareness for North Texas Association of Divorced Parents; investment holding manager for RTO & JLV, LLC.

O'Donnell also included $25,000 or more from interest, dividends, royalties, and rents from a certificate of deposit that he has from Chase Bank. O'Donnell also listed that he has $25,000 or more in personal notes and lease agreements with Wells Fargo Bank, and $25,000 or more in personal notes or a lease agreement with Chase Mortgage.

O'Donnell checked the "not applicable" box and listed no information for the following items in his financial statement: mutual funds, bonds, stocks, and trusts. He also did not list any interests in real property.

However, according to the Collin Central Appraisal District's Web site www.collincad.org O'Donnell owns property under the O'Donnell Family Partnership at the following locations: 510 Davis St., which is a residential property near O'Donnell and his wife, former District 3 Council member Julie Vargo's home in the 500 block of Louisiana Street; 512 Davis St., which is a residential property; 514 Davis St., which is also a residential property; 216 Virginia St., which is a commercial property; 419 Louisiana St., which is a commercial property; 301 Louisiana St., which is a commercial property; 103 Kentucky St., which is a commercial property; and 112 Tennessee St., which is a commercial property.

O'Donnell said on Wednesday, Jan. 7 that he interpreted the instructions for the personal financial disclosure to mean that he would only have to list property that he personally owns and not to include property that is included in a partnership.

The instructions defines a business entity as "a sole proprietorship, partnership, firm, corporation, holding company, joint stock company, receivership, trust, or any other entity recognized by law through which business for profit is conducted."

O'Donnell also listed "not applicable" under the spouse information in the statement, which requires candidates to list "family members whose financial activity you are reporting ( filer must report information about the financial activity of the filer's spouse or dependent children if the filer had actual control over that activity)."

O'Donnell could not be reached via his wife's cell phone at approximately 7:30 p.m. on Jan. 6 for comment about not including the properties owned by O'Donnell Family Partnership under the "interest in real estate" section of the statement.

The candidates' personal financial statements are available at city hall, 222 N. Tennessee St. and copies may be purchased via a public information request.

Early voting begins on Jan. 5 for District 3 City Council special election

Early voting for the Jan. 17 District 3 City Council special election will begin on Mon., Jan. 5 and will last through Jan. 16. Voters will elect a new council member to replace former council member Bill Vitz, who resigned from the District 3 council seat due to health concerns.

Planning and Zoning Commission Chairman Travis Ussery and Robert O'Donnell are running for the District 3 council seat.

Early voting will be held at the Collin County Elections Office, 2010 Redbud Boulevard, Suite 202 in McKinney. Only people who live in the Council District 3 may vote in the election. Election Day polling locations will be at Burks Elementary School, 1801 Hill St. and Slaughter Elementary School, 2706 Wolford Ave. The votes will be canvassed at 11:30 a.m. on Jan. 26 at city hall, 222 N. Tennessee St. For more information, call the city secretary's office at 972-547-7500.