We hope that today’s “IS IT TRUEâ€Â will provoke honest and open dialogue concerning issues that we, as responsible citizens of this community, need to address in a rational and responsible way?
IS IT TRUEÂ at Monday’s City Council meeting Finance Chairman Jonathan Weaver said; “as of February 29, 2019, the City’s General Fund has a deficit of more than $10 million dollars”?
IS IT TRUE if your CEO of a for-profit Corporation and you just found out that your company has a $10 million dollars deficit we bet you would immediately fire the Controller of his Corporation?  …all we heard from the Mayor of Evansville concerning this $10 million dollars deficit issue are crickets?
IS IT TRUE OldMustangMan posted this comment on Facebook that was made by the “Deputy Mayor†of Evansville?  …the “Deputy Mayor’ of Evansville said;  “Wait for a sec……let’s wait to criticize before the article is updated with comments from the Administration. For the record, the 2017 audit was a “clean†audit by the SBOA. The comment of “overdrawn accounts†has been included by the SBOA for decades at least since 1997. This Administration has put together a corrective action plan to fix the issue that has been occurring for decades, across multiple Administrations and City Councils.â€
IS IT TRUE that it has not always been the subject of local mainstream media that the City of Evansville has consistently run negative balances in several key accounts and the hole is getting deeper? …according to some Facebook posts by Deputy Mayor Steve Schaffer, this sort of deficient accounting practice has been going on since 2001 and that being the case the old “we have always done things wrong so that makes us right” argument is being floated on social media? …most of us grew up with parents that taught us that just because Johnny smoke pot doesn’t mean it is okay to smoke pot? …the same idiocy follows that just because Johnny is up to his eyeballs in debt doesn’t mean it is okay to perpetually run accounts with negative balances? …the City of Evansville General Fund now has a negative balance of $10,025,916 which is about the same depth that the hole was last year?…the Downtown Master TIF has dropped over $2 million to a negative balance of $1,272,577 from a positive balance of $758,000 at this time last year?…perhaps the most insulting and damaging negative balance that went $256,000 deeper into the red since last year with a balance of NEGATIVE $3,876,935?…what is most disturbing is that the City of Evansville has managed to keep this situation out of the limelight?
IS IT TRUE that the CCO warned about the pending deficit spending disaster of the City of Evansville for several years?…former Councilman John Friend, CPA also warned that this was deficit spending disaster was coming for many years? …it seems that the only member of the current City Council who recognizes and admits to these deficiencies is At-Large Councilman and City Council Finance Chairman, Jonathan Weaver?…we wonder what our former banker Mayor Lloyd Winnecke thinks of a city that overdraws its accounts by over $10 million and keeps on spending like there is no tomorrow?
IS IT TRUE that the secrets about the appraisals surrounding the former CVS on North Main that was leased by DaVita Dialysis Center for $1,600 per month is maddening?…by connecting the statements of DMD Director Kelley Course, it can be surmised that the City of Evansville and DaVita Dialysis Center have spent about $2 million dollars to purchase and refurbish this building? Â …this building is now on sale and bids are being solicited based on the value of the building based on the cash income method?…income real estate is often valued based on the CAP rate which in Evansville is between 8 and 12 times the annual gross revenue potential?…the lease rate of $1.600 per month at a CAP rate of 10 would yield a value of only $192,000 for this building that supposedly has over $2 million in it?…there is actually a bidder that has offered $178,000 which is on the low end of the CAP rate expectation so this offer needs to be taken seriously?…the fact that the City of Evansville paid over $535,000 for this vacant building and according to the DMD Director Kelly Course DaVita Dialysis Center reportedly added another $1.5 million after they leased it from the DMD is irrelevant? …it sounds like the viability of income property in Jimtown has not changed much in 50 years since the manufacturing base left town?…investing in Evansville as if it was a high-cost coastal enclave has and will always lead to losses and this time the taxpayers of Evansville were fleeced again by their own government? Â …bottom line the investments of the City of Evansville in the Jimtown CVS was just plain old dumb?
IS IT TRUEÂ yesterday one of our posters named Frank Lee made the following statement concerning the Overdrawn City of Evansville Accounts? Â ….he said; “How can the City have overdrawn accounts because they lump about 90 Funds into a single Bank Account, so the City uses the money from other Funds to prop up the overdrawn ones?”
IS IT TRUE that we are pleased and grateful that the minds of sanity came together to change some unreasonable rules that would have made the Rathbone follow the fate of the McCurdy due to a downright silly parking situation?…now that the dumb law has been corrected as it should have long long ago the Rathbone can once again be utilized for housing as it has been for many years?…the parklike grounds will be preserved in a part of the City of Evansville that is not famous for parklike anything?…this is a situation where the local government did the right thing after doing the wrong thing and we commend them for doing so?
IS IT TRUE we are very surprised that the only CPA on the Evansville City Council didn’t publically speak out against the out of control deficit spending habits of the Winnecke Administration?
IS IT TRUE here’s the video and agenda from yesterdays morning ERC meeting (March 19, 2019)?  … the 800 North Main Street building briefly discussed?  …please start playing the attached Video at 8:30 to learn what was said about this building?
http://evansville.granicus.com/MediaPlayer.php?view_id=2&clip_id=280
IS IT TRUE below is a link of the video of the ERC Dec. 18,2018 meeting?  …please start playing video at 3:55 to see the discussion about the DaVita Dialysis Center investing $1.5 in the 880 North Main Street building?  …during this meeting it was mentioned that DMD has 2 appraisals based on the income approach, but the appraised values are never mentioned when the video recording was on?
http://evansville.granicus.com/MediaPlayer.php?view_id=2&clip_id=2649
IS IT TRUE attached below is a video and agenda of the ERC March 5, 2019 meeting that concerns the opening bid for 800 N Main St?  ….please start playing the Videro at 16:30 to hear the discussion about lone bid to purchase this building?
http://evansville.granicus.com/MediaPlayer.php?view_id=2&clip_id=2776
Todays“Readers Poll†question is: Who do you blame for the unacceptable deficit spending of the City of Evansville?
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