MEMPHIS, Tenn.– A month after a visit from the Tennessee Comptroller, the state is moving forward with plans to take over the city of Mason’s financial operations after years of reported mismanagement.

“It hurt us. I am saddened by the fact with how they’re doing it,” said Vice Mayor of Mason Virginia Rivers.

A spokesperson with the Tennessee Comptroller office told WREG they intend to take over Mason’s financial operations by the end of the week.

This decision comes after they urged Mason to give up its charter and become a part of Tipton County government. City leaders declined, so now their finances will be managed by the state.

“With them coming in to take over the finances, as I stated earlier, it can cause a hindering to us for moving business,” Rivers said.

Tennessee’s Comptroller came to this decision after they say they uncovered years of money mismanagement.

“Opportunity will pass it by because outside companies, outside groups aren’t gonna wanna invest in a community where they know there’s a history of mismanagement,” said John Dunn, director of communications for the Comptroller’s Office.

Mason sits close to where Ford’s Blue Oval City will be built.

For local residents like Richard Marbury, who owns several properties in the city, he’s supports the state’s decision and hopes it leads to change.

“If the county took over they would at least take over the streets, out taxes wouldn’t be as high we wouldn’t be paying all that we’re paying here for nothing on return. What are we getting in return,” he said.

Over the years, city leaders say they have made improvements to its finances. Despite the state stepping in, Rivers says this is far from over.

“We have been here all this time we can still thrive in Mason. Regardless of how we look now that doesn’t mean that’s how the outcome go be but we’ve got to stand together,” she said.

The town of Mason plans to send a letter to the Tennessee Comptroller hoping both sides can meet soon. More information from the comptroller is expected to be released sometime this week.