The city is going to be borrowing money from several different departments. By the end of July the amount will be 9 million dollars. That money is not going to be paid back with interest by the end of this budget so that would say that the city would owe 9 million dollars. Yet when you look at the budget you do not see it listed any place why? I thought if you want to have an accurate accounting of what is coming in and what is expected to go out a loan would be listed under the expense side of the budget. When you start in the negative how is the city every going to get caught up how will the city be paying this money back. How can the council approve a budget that does not list some of the expenses it will be having in the next year. What happens if they have to take more from these accounts what is the limit? When does the amount of money become so much that it is unrealistic that the city will be able to pay back these department loans?
There is still no word from the Governor how much in state revenue city’s are going to be getting, and the Mayor mentioned this at last Tuesday’s budget meeting. He has put the same amount as last year for state revenue. What happens if the state does not give us that much when does the budget have to change to reflect that? Why doesn’t the state have to give the numbers before city’s have to put together their budgets this is a very screwed up system in my book. You ask city’s to give their budgets on time and yet, you (the state) are not forth coming with the information that is needed to do the very task you have every Mayor doing.. If it was me and it is not, I would have cut the amount of state revenue by 20% and worked with that number. To use the same amount that as last year I think may be a mistake. The budget of course is not final yet the council still has to approve it.