SHERMAN, Tex. -- Residents in the Sherman area gathered Thursday to find out what the future might hold for the city. Rashi Vats was live at five at a symposium in downtown Sherman.

Among those scheduled to speak at the symposium are Sherman mayor Bill Magers and U.S. Representative Ralph Hall.

This is the 2nd Annual Sherman Symposium, which is sponsored by Douglass Distributing. The event will feature area officials who will speak about current issues that Sherman and Grayson County residents face.

Participants say any person that lives in or works in Sherman will definitely benefit from the event.

Magers said despite turmoil on Wall Street and in Washington, the local economy will pull through the tough times.

"Things are going great. Today was a tough day in the stock market yet again, but Sherman citizens need to understand that our city is in great shape. We have a balanced budget, a record amount in revenue and that's after a property tax cut. We live within our means, like most of our citizens. We're cutting back. We're focusing on our necessities, but the state of the City is great. Our finances are in order and reserves are where they need to be, and we're going to be just fine," Sherman mayor Bill Magers said.

The event is presented by the Sherman Chamber of Commerce. It is free to the public and goes until 6:30 p.m.