IS IT TRUE October 28, 2014 “a little early”& ” a little more layer”

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IS IT TRUE Some additional information about the composite of the funds at August 31, 2013 and 2014 is now presented for analysis?…on Aug 31, 2013, operational fund balances were $2,513,000, but in a year later at Aug 31, 2014, they are negative by $2,965,000?…the capital funds as of August 31, 2013 were $17,415,000, but on August 31, 2014 they are $14,935?…the restricted funds as of August 31, 2013 was $31,011,000, but August 31, 2014 they are $28,612?…Debt Svc at Aug 31, 2013 was $6,251,000 but was $8,236,000 at Aug 31, 2014?…this is due mainly to the principle requirements on the Ford Center coming due. So here’s the following summary of the changes in the accounts during the last year?

Operational = -218.0%

Capital = -14.2%

Restricted = -7.7%

Debt Svc = +31.8%

IS IT TRUE the composite weighted average of declining balances is approximately 15%?… Umbaugh’s assessment at Dec 31, 2013 must not have considered the fiscal year information and deep negative spending trend?…in spite of that Umbaugh’s bought and paid for opinion still acknowledged declining balances and called for a corrective action “sometime”?…This MUST be discussed in tonight’ City Council meeting even if some egg is tossed onto some unknowing faces and some of our elected officials are embarrassed at the simple analysis that show just how fast Evansville is heading toward its credit limit?…it is interesting to see that even Mayor Winnecke is now admitting that the debt obligations of the underperforming Ford Center in the underperforming TIF district that was supposed to pay for it is a big contributor to the city budget problems?…with declining reserves, uncertain revenue, and increasing debt service the City of Evansville had better get its house in order this year because the chickens of no reserves will be coming to roost by this time next year on the trajectory things are on?

IS IT TRUE one member of the Mole Nation who is in the know tells us that the Vanderburgh County Democrat Party has not yet paid the Bauerhaus for the chicken dinner from 2011?.. Some people who felt shame for the party’s dead beat ways have actually paid for what they ate thinking they had paid the party for it?…the financial malaise of the party matches the issues of the city but is actually worse?…if the democrats are planning to mobilize to make a run for Mayor of Evansville in 2015 they had better get their house in order first because that election will cost about a million bucks to run and a group that can pay for a couple of hundred chicken dinners has no business running a million dollar campaign?…if they can’t we may just see a repeat of the 2007 mayoral election where an incumbent mayor runs against a ghost of a candidate and claims of a 80% approval rating because they beat a nobody?

IS IT TRUE the rest of this IIT will be dedicated to the outcome of the City Council meeting?…in spite of the reality that the revenue for the city was overstated by as much as $11 Million your city council approved a budget that was only reduced by about $3 Million?…this happened after Councilman Conor ODaniel proposed a 3/4% cross the board cut that failed to muster enough votes to pass?…it was encouraging to see the nonsensical Roberts Park cut from the budget but that was simply not enough and the reserves will continue to be bled like leaches bled humans in the dark ages?…the day of reckoning is looming and the taxpayers of Evansville have once again been left holding the bag?…we are sorry to see a budget that did not have a defensible revenue stream as the fundamental assumption on which to construct a spending profile?…the party rage on but the people are still getting the shaft?…the depth of that shaft is not yet known as the City Council reversed an earlier decision and voted the compromised budget down 6-3 in general session?…the saga will continue on for several more days?…it will be interesting to see if we have a budget or a real groundbreaking on the hotel first?

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44 COMMENTS

    • Winnecke ran against the best mayor candidate this city has produced in the last 25 years and won. There’s a lot of heads out there that need to be examined. Winnecke had a chance to be the best mayor this city has ever had and blew it because he is indebted to the democrat party. Why on earth does he feel so strongly about covering for democrats who left us in terrible shape? Remember Bagbey’s comment about the Arena, JUST BUILT IT, it will re energize downtown. The current CC was left with a mess and continue to make it worse. Winnecke will get another 4 years.

      • With only about 13% of Evansville’s citizens getting up off their backsides to Vote in the 2 previous Mayoral elections, it is apparent they don’t care! –THEY ARE GETTING WHAT THEY DESERVE!
        I find no Joy in that assessment,– only sadness in what has befallen my Hometown.

        • You are right about the fact that many in this town just don’t care. They don’t care enough to vote for the right people or to do their homework in order to determine who’s right for each and every office. So we are getting what we deserve. There are responsibilities to being a citizen and they do require a little work on our parts. So yes we reap what we sow.

      • pov- Winnecke beat Rick Davis partly (mostly) because the Dems did not support Davis. It seems abundantly clear now why.

  2. We don’t have any idea of who, if anyone, will run against him. I don’t believe that Evansville can withstand four more years of Wife of Winnie, but I’m not certain the Demos will run anybody who is any better. The current party leadership is pathetically inadequate.

    • Everywhere you look Evansville has went to Hell in a hand basket, LKB.
      Our idealism, —born of a different time in Evansville, is but folly in the face of the Creeps that have risen to the top in Evansville Society. They are without a moral rudder and have Evansville on the rocks.
      (Skunks,–CCO’s accurate description of the choices faced by the Voters at every election anymore.)

  4. 1st paragraph: there is no PRINCIPLE at the Ford Center, but there is surely PRINCIPAL (which must be repaid from an eroding cash flow).

      • Something else that common council meeting blurted out was on the small lab application Haier’s planning. Those hires might not appreciate that big mouth pointing out number of recent hires from the ex-Whirlpool employee base. Most major global companies do have “legal separation agreements” in place. Whirlpools legal beagles will now be nose the to trail. That wasn’t very business strategic to sport those numbers straight shot to the media.

        But then who ever accused Evansville’s leadership of ever acting strategically, that’s just another “say no more” comment to be flown.

        Intellectual Property Agreements … A certain period of time must pass forward with some of that. Normally that’s 3-5 years after separation, so. The GAGE spokesperson might have delivered the third toe foot shot for the developments profitability coursing. That building will take quite the investment to achieve lab condition viability over that failed and already mandated utility infrastructure, those are the first two toes blown away.

        Our guess is sooner or later they’ll ask for some more breaks, when that doesn’t help they’re gone. They have no real advantage in Evansville for the product developmental business. To many other regions with the skills the available staffing, and this centuries updated infrastructure to migrate and grow with.

  6. Looks like it will be a short IIT tomorrow, as City Council voted down the budget tonight. Now they’re really “under the gun”, because if they don’t have a budget by Monday, the City is going to lose out on raising tax rates for this year.

  7. Not to worry. The U.S. Senate hasn’t passed a budget in ?????????? years with no discernable effect on their spending. Pass a C R and it’s full speed ahead with the borrowing via bond issues.

    • Looks like this is going to turn into a snake fight between Nobody’s Friend and Carol’s Husband, culminating in JNF’s announcement that he flip-flopped again and has decided to run for Mayor.

      • Winnecke called the city council’s actions last night ’embarrassing’. He should have delegated that tough job to someone else. His accidental administration has been successfully preyed on by conmen, fraught with unfulfillable promises, goofy schemes, blown chances to better Evansville, deadlines, deadline extensions, more deadline extensions and general ineptitude. Their rebuttals to facts and irrefutable numbers now fall flat. When he calls the body that is apparently finally reining him in embarrassing, it is only irony. He is now little more than a tragic figure, albeit a very spiteful one when he doesn’t get his big spending ways rubber stamped.

        • He should have called his proposed budget “embarrassing”, because it is. This is a new low in City Administrations. Nearly anyone could defeat Winnie, just on the grounds that they are not Lloyd Winnecke. John Nobody’s Friend is one of the few exceptions to that, and mark my words, he’s going try to be the Democratic mayoral candidate!

          • I believe John Friend is unelectable, too much baggage.

            Coming out of last night, I would encourage Conor O’Daniel to give it a shot.
            I can assure you that, if he wins, he has an advantage on Sir Spend-A-Lot in the management arena.

      • Do I vote for Lucifer or Satan? I just don’t know. Where’s that Island you’re moving to? I am so sick and tired of this city.

        • Panama is where I’m looking at, but AARP has a lot of information on a lot of good spots. This place is exhausting and downright embarrassing, but I haven’t given up. I just hope one of the potentially GOOD mayors steps up!

          • On living migrations do create the bare essentials list while your looking.

            A morning heads-up for those who consider climate migrations. “Resilience and usable living infrastructure set forward for climate migration is a major today”.

            (Well being) Our analytics have concluded women are somewhat more concerned about the families well being than some men . Moms care, and now over 50% of Americas adult population are single, as well.
            So, single Moms are probably packing some political clout along with their married counterparts. Nobody wants climate action to be wrought in partisan politics, however, given ones well being might rest on the ballot, things get real. Fast.

            http://www.weather.com/video/climate-change-is-here-now-54946?collid=/tv/shows/amhq

        • That was in response to your comment that Winnecke called Friend a liar. You truly are antagonistic for a peace loving, why can’t we all just get along liberal.

          • Sorry I read your post the wrong way.

            The question at hand is the city’s cash reserves.

            The Mayor says Councilman Friend just cherry picked 4 accounts when the City has 60.

            Councilman Friend seems to be implying that the City’s cash reserves will be completely depleted in 2-3 years at the current pace we are on.

            My guess is there is a little bit of “lie” and “truth” in each man’s statement(s).

            Can the CCO please do the fact checking on both of these men’s claims?

  9. Hats off to John Friend and Conor O’Daniel on holding the line on Sir Spend-A-Lot (Winnecke).

    Don’t get me wrong: these two gents have a LOT of warts, especially the most recent silence on the Fraudit and their collective failure to demand a 2011 Audit/ you know, Weapons of Mass Distraction.

    Let’s face it, Friend’s numbers were–as he said–the Administration’s published numbers. I caught just a moment of LW on one of the TV stations last night still trying to spin the “timing difference”/ we get two installments of property tax, blah, blah, blah.

    While last nights manly actions were appreciated, Friend should have never approved previous year budgets when the banks reconciliations had not been prepared (in the context of this administration, that would mean all of the time BEFORE the accounts were plugged to make them balance).

  10. Editors used to have a list of all the capital projects approved in the last 3-4 years

    If they could print that again, that’d be great.

  11. I’m sure the Dems will rally behind Mayor Winnecke when they are most needed, say, during the Republican primary? Ah, Evansville! The city that lost it’s soul.

    • Carol McClintock is Missy Mosby’s (republican in hiding) boss. Is that not a conflict of interest. Would not use either one of them to buy or sell a house!

  13. “in spite of the reality that the revenue for the city was overstated by as much as $11 Million your city council approved a budget that was only reduced by about $3 Million?”

    Really? Last time I checked the vote by the City Council was to NOT approve the budget?

    • We added to the article to state that. In the spirit of John Kerry it seems they voted for it before they voted against it.

    • Okay, then it isn’t just me.
      The inconvenient truth is that this is not going to be a painless cut, if it is an adequate one. Even by aiming at getting rid of the deficit over three budgets, I don’t see how it can be done without layoffs and/or cutbacks in services. Even if the overspending is reined in in the next three years, we will be left with a depleted rainy day fund. If the phantom convention hotel for the phantom conventioneers is built, we’ll be having to service that debt by then, too.
      I can understand why the .75% across the board cut was not passed. It is woefully inadequate, and gave more in cuts to departments that were told there would be no more for them. SBR made the comment last night that the City may have to get out of the grant business, and I suspect she’s right.
      No wonder we can’t find a reasonable person to run for Mayor. Most reasonable people wouldn’t want to deal with the ugly math we’re looking at.

  15. Several comments about Friend running for Mayor.

    He has a lot of damage repair to do first:

    1) Finish the expose on the McGladrey IT Study;
    2) Shine light on the Johnson Controls fiasco;
    3) Follow Council’s St. Louis forensic firm’s advice, full forensic audit of purchase of Exec. Inn;
    4) Order a 2011 Audit by the SBOA to replace the Disclaimed Opinion previously tendered; and
    5) Take charge of the CSO, and blow through the stalling

    If he does these 5 things, I’ll vote for him in a second. Let’s face it, the City is in sorry shape because the current occupant of the corner office can’t manage financial matters (or manage anything for that matter). If this City is going to recover, expand and thrive, it will only be if our leaders can manage money with integrity. Oh, if Mr. Friend does take on these 5 items, he will, in fact, be elected–crossover voter hijinks and all.

    • You are probably right about what it would take to make him electable. I don’t think there is enough strength of character in the man to do even one of those things, much less all five.

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