Excerpts:

“The typical American household would have paid nearly all of its income in taxes last year to balance the budget if the government used standard accounting rules to compute the deficit, a USA TODAY analysis finds.”

“Under those accounting practices, the government ran red ink last year equal to $42,054 per household — nearly four times the official number reported under unique rules set by Congress.
A U.S. household’s median income is $49,445, the Census reports.”

“The big difference between the official deficit and standard accounting: Congress exempts itself from including the cost of promised retirement benefits. Yet companies, states and local governments must include retirement commitments in financial statements, as required by federal law and private boards that set accounting rules.”

“The deficit was $5 trillion last year under those rules. The official number was $1.3 trillion. Liabilities for Social Security, Medicare and other retirement programs rose by $3.7 trillion in 2011, according to government actuaries, but the amount was not registered on the government’s books.”

“Key findings:

•Social Security had the biggest financial slide. The government would need $22.2 trillion today, set aside and earning interest, to cover benefits promised to current workers and retirees beyond what taxes will cover. That’s $9.5 trillion more than was needed in 2004.

•Deficits from 2004 to 2011 would be six times the official total of $5.6 trillion reported.

•Federal debt and retiree commitments equal $561,254 per household. By contrast, an average household owes a combined $116,057 for mortgages, car loans and other debts.

“By law, the federal government can’t tell the truth,” says accountant Sheila Weinberg of the Chicago-based Institute for Truth in Accounting.”

http://www.usatoday.com/news/washington/story/2012-05-18/federal-deficit-accounting/55179748/1

Click here to download the 2012 VCDP Calendar

The University of Southern Indiana is conducting an archaeological field school through June 8 in New Harmony, Indiana. Michael Strezewski, assistant professor of anthropology, and his students are continuing the excavation of the Harmonist kiln site, located at the corner of North and West streets. At this location, Harmonist potter Christoph Weber manufactured redware pottery for the Harmonists and for sale to the public through the Harmonist store. The kiln was in operation from 1815 to 1824. USI has been investigating the Harmonist kiln site since 2009. About a dozen students will be working at the site, which is open to the public from 8:30 a.m. to 3:30 p.m. Monday through Friday, except on Memorial Day.

The 2012 VHS Canine Classic is being held on Friday June 15th, at the beautiful Cambridge
Golf Course. “We are in desperate need of golfers! Our event won’t be successful without
plenty of players. Hole sponsors are also needed. This is a great way for businesses to show
community support,” says Sydney Long, VHS PR Coordinator. “We’re hoping to see more
registrations come in over the next couple of weeks to ensure a fun and successful event.”

The Canine Classic registration is $75 for a single golfer and $320 per foursome. The
registration fees include scramble participation, a great lunch, fun contests and a gift bag for each
player. The scramble also gives golfers a chance to play the beautiful Cambridge Golf course.
Golfers are encouraged to ask their employers to sponsor their participation in this charity event.

Participants will enjoy lunch at 11:30am and a shotgun start at 1pm.

There are also several sponsorship opportunities still available for area businesses. Businesses
can sponsor a hole and have a foursome play the course for $400. Hole Sponsorships are $125
and include signage at 1 tee box. $1,000 Golf Cart Sponsorships are still available.

The VHS Canine Classic will benefit the Vanderburgh Humane Society and its programming.
A fixture in our community for over 50 years, the VHS is committed to the elimination of
pet-overpopulation in our community, the prevention of animal cruelty and neglect, and the
promotion of the human-animal bond.

For interview and photo opportunities, VHS staff will be at Cambridge Golf Course on
Friday June 15th, beginning at 11:30 am and throughout the afternoon.

FOR IMMEDIATE RELEASE

CASINO AZTAR ANNOUNCES HOTEL RENOVATION

Casino Aztar announces a full renovation of the Casino Aztar Hotel with plans to make approximately $5 million in improvements. This will be the first renovation for the hotel since it was built 15 years ago.

Casino Aztar General Manager, Ward Shaw said, “There won’t be a spot untouched in this renovation. It will be a different experience than our more contemporary Le Merigot hotel, however. The Aztar will remain more of a grand traditional-style that so many of our customers have enjoyed over the years, but it will get the fresh look that will dramatically improve the comfort and overall enjoyment of our guests we attract from around the region and the country.”

All 251 guest rooms will be dramatically transformed with new wall coverings, carpet, furniture, bedding, and televisions, along with renovated bathrooms. The exterior of the hotel will also be repainted. This is the largest single capital investment Casino Aztar has made in the property since The District at Casino Aztar was built in 2006, and the largest ever by the new Tropicana Entertainment, Inc. ownership group.

Other recent property improvements include the opening of the second pedestrian sky bridge connecting the Le Merigot hotel to the casino, new carpeting throughout the casino and renovations to casino restrooms. This year, Aztar also plans to install 2 million dollars worth of new slot games.

Most recently, the Riverview Coffee Company, located in the Riverfront Pavilion switched to serving Starbucks® Coffee and is the only Starbucks retailer in the downtown area. The coffee shop is open daily at 7AM.

For more information, contact Stacey McNeill, Casino Aztar Director of Marketing at 812-433-4069 or stacey.mcneill@aztarindiana.com

Tropicana Entertainment Inc. (“Tropicana Entertainment”) owns and operates 8 casinos and resorts in Indiana, Louisiana, Mississippi, Nevada, and New Jersey. In addition, the Company owns a development property in Aruba. Tropicana Entertainment properties collectively have 5,750 rooms, 8,300 slot positions and 240 table games.

Thank you.

Andrew Herbertz | Advertising & Public Relations Manager

Casino Aztar Evansville

421 NW Riverside Drive

Evansville, IN 47708

www.casinoaztar.com

o: 812.433.4404 | f: 812.433.4358

May 23, 2012 Contact: Allen Mounts

For Immediate Release (812) 436-4560

amounts@ewsu.com

Evansville Water and Sewer Utility submits request for water rate increase to

Indiana Utility Regulatory Commission

June 4 field hearing in Evansville planned

EVANSVILLE, Ind. – Last week, the Evansville Water and Sewer Utility submitted a case in chief to the Indiana Utility Regulatory Commission (IURC) for a three-year phased increase in water rates. The rate increase is necessary to address rising operating expenses and fund essential – and in some cases mandated – repairs as well as additions to the current infrastructure, most of which is aging and in need of significant upgrades. Filing the case in chief is the step in the IURC’s process during which a utility may submit usage data and documentation supporting an increase in usage fees. The Utility began the process by filing a petition with the IURC in December 2011. The Utility will notify its customers of the proposal via mail later this month.

Evansville’s monthly residential bill for 5,000 gallons of water is currently $14.42, significantly less than many surrounding communities. If the IURC approves the water rate increase, the monthly residential bill for 5,000 gallons of water – before the fire protection surcharge is added – will increase to: $17.19 in 2013, $18.86 in 2014 and $20.34 in 2015 Those amounts are still considerably less than monthly residential bills for the same water usage in nearby communities, including Indianapolis ($27.90), Princeton ($31.95), Mt. Vernon ($35.20), and Newburgh and Terre Haute ($36.38).

“The time has come for Evansville to invest in its aging infrastructure,” said Allen Mounts, Evansville Water and Sewer Utility director. “We have 1,000 miles of water lines, and almost 600 miles are old, cast iron pipes, which are not durable enough to stand the test of time. The water filtration plant is more than 115 years old. Postponing much-needed capital improvement projects increases the likelihood of water main breaks and system failures.”

Recently, the Utility replaced 1.9 miles of water line along Kratzville Road, which cost approximately $1.5 million. Industry guidelines suggest replacing 1 percent of water lines each year, which would be 10 miles per year for Evansville. At a rate of $700,000 per mile, the Utility would need more than $21 million during the next three years to meet those conservative standards. However, over the next three years – even if the rate increase is approved – the Utility will only have funding to replace 4.5 miles of water line, far less than the recommended 30 miles.

Mounts said, “The Utility is carefully balancing the desire to keep rate increases low while addressing the need to raise enough capital to mitigate risks in the Utility’s massive infrastructure.”

June 4 field hearing open to the public

At 6 p.m. Monday, June 4, the IURC is hosting a public hearing at the Bosse High School auditorium – 1300 Washington Ave., Evansville – to allow the public to submit questions and feedback on the request for a rate adjustment. It will be several months before the IURC reaches a decision.

“We realize that any increase in utility rates will impact our customers,” Mounts added. “We are working to make this process as transparent as possible and encourage those who want more information to attend the IURC’s hearing.”

Evansville Water and Sewer Utility’s last water rate increase was approved by the IURC in 2007 and phased in through 2010.