IS IT TRUE JUNE 11, 2015

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IS IT TRUE 5th Ward City Councilman John Friend, CPA met for an hour and half with a Courier and Press political reporter to discuss the $19 plus million dollar advancement that the city requested from the Vanderburgh County Treasurer?  … at the last City Council meeting the City Controller acknowledged to Councilman John Friend, CPA that he indeed receive a $19 million dollar plus advance so he could shore up the City General funds? …one would expect that a past Mayor of Evansville should realize how important to it is to have enough money to operate the city on a daily basis.

IS IT TRUE we are still waiting for the main stream media to do an in depth article about the $19 plus million dollar advancement to the City of Evansville General Fund by Vanderburgh County Treasurer?

IS IT TRUE that the Downtown TIF funds had around $6 million dollars in this account in April, 2014? … as of April, 2015 the Downtown TIF Fund has about half that much?

IS IT TRUE the City Administration have committed to fund the new Downtown I U Medical School and new Hotel with funds from the downtown TIF funds? …Its reasonable to assume that less than a $6 million dollar balance in the Downtown TIF Fund can’t begin to help fund either project?

IS IT TRUE we have a suggestion to help shore up the Downtown TIF Fund? …the City should drop the proposed $15 million dollar North Main project that was going to be funded by the JACOBSVILLE TIF funds? …the city should consolidate both TIF Districts and use the money from both TIF Districts to help fund the Hotel and Medical School projects?

IS IT TRUE that our First Annual CCO 2015 COMMUNITY ACHIEVERS AWARD luncheon is totally sold out?  …we predict that this coming Mondays awards luncheon at Tropicana-Evansville will be a resounding success?

Please take time and vote in todays “Readers Poll”. Also we just posted the current City County Observer TRI-STATE VOICES TV show for you’re viewing pleasure. Copyright 2015 City County Observer. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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14 COMMENTS

  1. CCO Editor: Turn the tables, do another story where Friend identifies the C & P people who he met with, names and dates. In that way, the story becomes the cover up by the C & P–and public awareness of that is long overdue.

  2. A well managed city does not put itself in a position to need to take pay day advance loans. Unfortunately, there are very few cities in America that are managed well enough to avoid this unsustainable practice.

  3. IIT….. at the last City Council meeting the City Controller acknowledged to Councilman John Friend, CPA that he indeed receive a $19 million dollar plus advance so he could shore up the City General funds?

    IIT…….that this city is in a state of bankruptcy brought about by the reckless spending of the previous and the present administration?

    IIT……that thus far, local government’s response to this financial crisis has been an attempt to borrow its way out of debt?

    IIT……that the so called naysayers had it right in the past, but their efforts were shut down by slick propaganda campaigns and people with deep pockets and large financial stakes in the projects being proposed at the time?

  4. Actually according to the published financial statements produced with Mayor Winnecke name clearly on the front of the April 30, 2015 document, the Downtown Development fund a/k/a TIF was $927,000 compared to $5,500,000 one year earlier clearly a decline of $4,700,000 and nothing to show for it except engineering and arth fees for design and redesign of the ever shrinking Downtown Convention Motel . . .

    As it seems nobody has noticed that the Parks Fund was NEGATIVE by $1.5 MILLION compared to $683,000 NEGATIVE one year earlier . . .and Mr. Winnecke is still pulling the Roberts’ Dog Park . . .RIDICULOUS!!!

  5. I’m curious as to why the Evansville Courier and Press and other TV stations have not run with this story. Is it a non story or not? I’m not sure how the city runs and pays it’s bills or if this is the normal way a city does business or not. I know that’s not how I do business. I would never borrow money from those Pay day loan SHARKS at that kind of interest and terms. In fact I prefer to pay up front for most of my purchases. And any loans I’ve ever taken I tried to pay off early to save on paying more interest. Call me fiscally conservative I guess.

    But cities run on taxes and they don’t get to collect taxes from us each week. They only get paid twice a year. So I guess that they either have to borrow money against the taxes that will be collected in the future or not pay their employees until they collect the tax money in the spring and fall.

    And I’m hoping that this web site is working better. I posted something earlier at 6 am and it’s not showing. I’m not thinking it was deleted for some reason. Sometimes my post show up and other times they don’t. I can easily find out if it’s just me or not but I really don’t care that much either way.

    • Isn’t that why you have a budget? I get paid once a month and I know if I spend it all before the next pay period I am out of luck.

    • Historically, the city maintained a healthy cash balance to cover the budget throughout the year given property taxes are paid twice a year in May and November.

      When the city spends down the cash balance due to deficit spending, over a period of time, you go bust.

      The numbers have been thrown out there in the range of a $5 -$10 million yearly deficit for the last 3 years. The deficit spending continues and the city no longer has a cash balance to fall back on.

      No matter how one rationalizes this or paints it with a broad brush, the current deficit spending is unsustainable and needs to be reigned in.

      • They took a page from the federal government’s handbook – and it doesn’t matter which party holds the Whiehiuse, or congress

    • Moveon, I agree, E C & P and TV stations are always DESPERATE for new, any news. When Russ Lloyd agreed with Friend’s comments, or when Friend hands them a financial statement that shows the negative cash balances or the deterioration of financial condition . . . the media’s failure to report is adding to the problem by ensuring it is never addressed; and thus the media becomes complicit in the City’s decline.

  6. The C & P as well as the local TV news will never run with stories that would displease the royalty at the MLK Boulevard Palace.

  8. MAINSTREAM MEDIA just got off their asses and printed Friend’s comments:

    Council Vice President John Friend, a Fifth Ward Democrat and an accountant, pointed to a $19 million deficit in the city’s general fund as of April 30. The same figure for April 2014 was minus-$16 million, and it was minus-$12 million for April 2013. (Source: C & P online article at 1:50 PM, 2nd paragraph).

    Friend bet a reporter that the recent borrowing will exceed the June property tax receipts (6 months), and Russ Lloyd told the reporter to “take the bet”.

    Grab your popcorn !

    • NOTICE TO TAXPAYERS OF PROPOSED ADDITIONAL APPROPRIATIONS

      The city council will seek an additional $400,000. in excess of the budget for the current year during the June 22nd council meeting at 5:20PM.

      General Fund: $100,000.

      Local Roads & Streets Fund $100,000.

      Local Option Income Tax $100,000.

      Riverboat Fund $100,000.

      It was my understanding that the revenue from the Riverboat was to be used in support of local projects. When did we start “appropriating” taxpayer money to support this fund?

      * * * * * * * * * * * * * *

      No matter what the shortfall, and they will keep spending what they damn well want to, you, Mr. and Mrs. Taxpayer will be indentured to make up the difference. I believe the term is “TAX SLAVE”.

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