IS IT TRUE March 18, 2013
IS IT TRUE the “2012 Cash and Investments Report” submitted by City of Evansville to State of Indiana Gateway reporting system reveals the following that the City of Evansville spent $26,592,367.48 MORE IN 2012 THAN IT TOOK IN?…we encourage our readership look below for a detail summary of City of Evansville’s 2012 account balances we find interesting:
LOCAL FUND NAMES Beginning Balances – Ending Balances
Parks and Recreation $3,299.230.97 – $1,059,881.68
PARKING $341,338.52 – $37,491.22
COMMUNITY DEVELOPMENT GRANT ($1,266,277.33) – ($48,594.67)
EMERGENCY SHELTER GRANT ($156,514.51) – ($157,899.19)
TIF REDEVELOPMENT BOARD $586,323.83 – $167,315.08
SIDEWALK PROGRAM $179,248.93 – $185,296.28
RIVERBOAT CAPITAL PROJECT $14,102,923.23 – $15,271,060.11
TOTAL MONIES $1,179.897.10 – $0.00
EVANSVILLE CIVIL CITY PAYROLL $656,174.95 – $183.16
OAKHILL PERPETUAL CARE $723,793.15 – $729,092.86
LOCUST HILL PERPETUAL CARE $129,132.09 – $131,545.51
ARENA 2010 ADDITIONAL PROJECTS $3,251,411.50 – $1,312,602.50
2007 SEWER REVOLVING RESERVE FUND $13,919.395.52 – $0.00
2012 TOTAL OPERATING ACCOUNT BALANCES $179,394,689.09 – $152,802,321.61
IS IT TRUE THE MOST DISTURBING FACT REVEALED IS THE FACT THAT THE CITY OF EVANSVILLE SPENT $26,592,367.48 MORE IN 2012 THAN IT TOOK IN!
IS IT TRUE this trend of deficit spending by depleting nearly every reserve account down is typical of governments today with the federal government being the worst offender?…the federal government spends roughly $1 Trillion more than it brings in which amounts to nearly a third of total spending?…that President Barack Obama is now posturing a $17 Trillion debt as sustainable?…if he is having to borrow money to pay the interest on that debt which he clearly is then he is deluding himself or just outright lying and hoping the American people are dumb enough to believe him regarding sustainable debt?…sustainable debt with flat revenue is only obtained when the annual spending equals the annual revenue?…there are times during rapid revenue growth that an expanding debt can be sustainable?…this is not such a time?
IS IT TRUE the over $26 Million in drawing down of reserves that the City of Evansville did last year amounts to about 12% of the City budget?…when looking at what the federal government has done this does not look so bad?…in reality since cities do not have the authority to print money it could have more immediate consequences?…that if it gets its spending in order before all of the reserves are squandered the City of Evansville has a chance to keep its recent bond ratings and use fee based revenue to repair the sewers as they should have been years ago?…that will take sufficient discipline to stop pissing away millions of dollars on fun and games like $10 Million dog & skateboard parks, the proposed Centennial Park, and borrowing money to subsidize a downtown Convention Hotel?…if the borrow and spend on temples to sport routine that was made into an art form by the Weinzapfel Administration is not arrested, a Detroit style takeover may just be in Evansville’s future?