By: Diane Benjamin More from the Comptroller’s data, see links to the data in this story: https://blnnews.com/2023/11/16/surprise-surprise-comptroller-suddenly-has-the-data/ IMRF pension funding is all employees that aren’t police and fire: Bloomington: IMRF: 89.6% funded, surprisingly down from 111.8% Police: 56.6%, down from 62.2% Fire: 57.1%, down from 62.9% Normal: IMRF: 86.0% funded, down from 106.2% Police: 49%, […]
By: Diane Benjamin The budget is the big item for tonight. Will anyone notice fixing the streets isn’t allocated enough money to even begin catching up? Streets are becoming like pensions. It doesn’t matter how much money is thrown at them, they will never be rated well funded. Is Bloomington investing pension money with companies […]
by: Diane Benjamin Ward 4 Alderman Julie Emig was on sick leave until the end of November. She still wasn’t back Monday night. She hasn’t attended a meeting since September, her Ward has been un-represented for over 2 months. It’s funny to watch the Council continue to conduct business with 8 alderman instead of 9. […]
By: Diane Benjamin Last September the Financial Trends Report was presented at a Council meeting. See it here: https://www.normalil.gov/DocumentCenter/View/20653/2021-2022-Financial-Trend-and-Condition-Report IMRF funding was reported on PDF page 45 at 106.2%. IMRF funds all pensions except Police and Fire. Fire Pension Funding was reported at 56.15% funded – PDF page 44. Police Pension Funding was reported at […]
By: Diane Benjamin h/t a reader I wonder if Kathleen Lorenz thinks this makes the “professional staff” that can’t be questioned look good? That “professional staff” creates the budget, did they skip funding pensions? I wonder what will happen if Stan Nord mentions this at a meeting! I can predict: Link to the Bloomington data: […]
By: Diane Benjamin h/t a reader Stay tuned, Normal is next. Wirepoints.org analyzed the pensions funding for 175 Illinois communities. Lots of other information is also included. Bloomington received a “D” rating. The results prove how much government has grown in 19 years and how the increased revenue wasn’t used for essential items like funding […]
By: Diane Benjamin Even though the Financial Statements (CAFR) have been finished for at least a month, they were finally presented last night. The data was uploaded to the Comptroller’s site many weeks ago, why the City couldn’t take the time to release the data is a mystery. The auditor stated Bloomington is overpaying into […]
By: Diane Benjamin Since the April elections are close, your property taxes aren’t being raised! It appears part of the property tax revenue that normally goes to the General Fund is being diverted to pensions. In past years if pensions needed more money Normal would just charge you. It should be alarming to Town leaders […]
By: Diane Benjamin $270,944,173 Again this year Bloomington’s finances are on the Illinois Comptroller’s site BEFORE the City gets around to releasing the CAFR (financial statements). The fiscal year ended 4/30/2020 – almost 6 months ago. Why rush? What do they show? Bond Debt: 47,780,000 IMRF pension debt: 12,821,451 Police Pension Debt: 77,693,023 Fire Pension […]
By: Diane Benjamin For many years the Town of Normal has raised property taxes by telling you the increases were necessary to fund pensions. They left out one fact. All of the increased taxes for properties located in TIF Districts don’t go to pensions – they go to the TIF. Follow along: This isn’t complicated. […]
By: Diane Benjamin Years ago ISU decided to tear down old dorms. This led to a plethora of private companies building housing for ISU students. Buildings went up all over Normal that contribute to the Town budget through property taxes. ISU has now decided to build a sophomore dorm. Are 2nd year kids living on […]
By: Diane Benjamin The chart below was compiled from these 3 links listed. This is strictly my opinion, but I lumped General Fund spending and Enterprise Fund spending together because things like garbage used to be in the General Fund but now it isn’t.. The Enterprise Funds are: PDF page 50: https://www.cityblm.org/home/showdocument?id=22149 All of these […]
By: Diane Benjamin City Manager Pam Reece claimed they posted audio of Public Comment from the previous meeting. All I see is a deleted video. Lesson from this Council meeting: Cummings wasn’t on video this time during the pledge. Coincidence? If you want to talk for more than 3 minutes during public comment – first […]
By: Diane Benjamin The financial statements for Bloomington’s year ended 4/30/19 are finally being presented at Council Monday night: https://www.cityblm.org/Home/ShowDocument?id=23337 The chart below shows the long term debt. Why can’t the roads be fixed? Because retired employees need paid. OPEB is Other Post Employment Benefits. Look closely at these numbers! PDF page 31 This chart […]
By: Diane Benjamin The Downtown Task Force was a joke, the vast majority of people did not want to build a new library and bus transfer station by tearing down a parking garage. Tari claimed the Budget Task force was a success, it proved that Council was incapable of making any cuts. Huge success Tari. […]
By: Diane Benjamin I’ve heard from numerous sources State Farm is not done downsizing their workforce. If local governments don’t tighten their belts, the flight of residents will do it for them. These numbers were complied from what Normal reported to the Comptroller’s office: Source: Normal – Warehouse Note the number of employees. Remember […]
By: Diane Benjamin Normal Town Council last night: First to speak was Craig Stimpert. (4:27) The topic was pensions funding and the constant raising of property taxes to fund them. Craig called this Town practice unsustainable. The Town uses property taxes because they refuse to make pension funding part of the budget. He called out […]
By: Diane Benjamin As of 3/31/18 Normal had total debt of $89,823,286. $88,125,000 won’t be paid off until 2041. Interest rates range from 2.00% to 6.30%. Source As of 4/30/18 Bloomington had total debt of $242,010,034. $57,095,000 won’t be paid off until 2035. The interest rates aren’t listed. $173,646,119 is liabilities for pensions and associated […]
By: Diane Benjamin Pepsi hasn’t paid for naming rights at the Ice Center for years. That doesn’t keep Bloomington from still giving them free advertising: PDF page 196 of the annual financial statements: http://www.cityblm.org/home/showdocument?id=20281 “Pepsi” is also on PDF pages 32 and 33. Grossinger Motors does pay for naming rights of the former US […]
In January of 1776 Thomas Paine published a pamphlet titled “Common Sense.” In it, Paine advocated for the cause of what later that year became the American Revolution. Originally, Paine published “Common Sense” anonymously. And so it is that I come to my fellow residents of Normal as a concerned citizen and taxpayer with a […]
By: Diane Benjamin Tari Renner was on WJBC this morning with Scott Laughlin. Scott asked Tari about pension funding. Tari had to mention the pension funding award he accepted several years ago. Pension funding was neglected for many years so Bloomington could do fun stuff like the BCPA and the Coliseum. When Tari was elected […]
By: Diane Benjamin The numbers below are from the Illinois Comptroller’s website: http://warehouse.illinoiscomptroller.com/ Normal’s budget has increased 33% in 6 years. 5.5% per year is much higher than the inflation rate. Last year Normal spent almost $36 million more than it did in 2012. Where is it? Roads? Population is estimated at 54,264. That spending […]
By: Diane Benjamin The Bloomington Council meeting last night did not produce much to report. We did learn from a lady during public comment that Bloomington has an epidemic of at risk kids. Holly (didn’t catch the last name) volunteers many hours at the Boys and Girls Club. They currently serve almost 1000 kids and […]
By: Diane Benjamin The Town of Normal has to pay into three pension funds: IMRF, Police, and Fire. The funding for IMRF isn’t horrible, Police and Fire are. What does that say about who the Town management and Council respect and who they don’t? I’m sure you remember property taxes being raised year after year […]
By: Diane Benjamin Normal bills for Monday night: http://www.normal.org/ArchiveCenter/ViewFile/Item/279242 When your property taxes go up Monday: You will be told the cost of other people’s retirements went up: The real reason is the debt Normal has incurred building utopia. . Look at all the INTEREST payments below in Monday’s packet. They total $1,628,761.92. It gets […]
By: Diane Benjamin The “Special” meeting before the 7:00 Council meeting has discussions about the library and the City property tax rate. The Library Board wants a tax increase but they don’t know what it is for. Either they are going to continue plans to expand where they are or they are going to use […]
By: Diane Benjamin The Town of Normal is pretending pension expenses are mandated by the State and they can’t afford them without raising Property Taxes. Somehow the Police and Fire pensions have been seriously underfunded for years. IMRF retirements have been funded above the 80% level since 2013, think Mark Peterson’s retirement, while in 2016 […]
By: Diane Benjamin Tax receipts are flat. The City of Bloomington is facing more “structural deficits” they created. What to do, what to do? Let’s hold a retreat Saturday at the Den where it can’t be video taped! The citizens have no right to know we are going to raise property taxes: Packet PDF page […]
By: Diane Benjamin Local CPA Carl Woodward injects himself occasionally in local government when he sees something everyone is missing. You should know he supported and funded Tari Renner 4 years ago, he no longer supports him. (I tried to talk sense to him, he didn’t listen) Within the past week or two he has […]
By: Diane Benjamin Source: http://warehouse.illinoiscomptroller.com/ProcessSearchResults.cfm?DisplayMode=GETAFR&AFRDesiredData=Pension%20Funds%20/%20Retirement%20Benefits&Code=064/095/31&CFY=2016&Menu=Yes&PrintIt=No Normal has their 2016 report entered on the Illinois Comptroller’s website. Normal’s Year End was 3/31/2016. Are they opting not to fund pensions? (click to enlarge) All pension funding has dropped! Police and Fire pension funding isn’t sustainable! Where do the unions stand? Tax receipts next! . . .
By: Diane Benjamin A Work Session was held before the Council meeting. The most remarkable discussion was started by Alderman Fruin. It pertained to employee benefits. Watch his comments starting at 15:30, other people join the conversation, so keep watching. Jim actually stands up for citizens! That’s until he gets to an off-hand comment about […]
By: Diane Benjamin While I rarely ever agree with ANYTHING the Town of Normal does, they are light-years ahead of Bloomington on transparency. A lot of information is on their website, citizens just need to look for it. See this report, it is issued every year: http://www.normal.org/DocumentCenter/View/6662 This Financial Trends and Conditions report covers 4/1/2014 […]
by: Diane Benjamin A big part of the Bloomington Budget discussion has been pension funding. In November the City Council adopted an aggressive funding plan to save money in later years. The chart below shows the problem. The numbers come from this link: http://www.cityblm.org/Modules/ShowDocument.aspx?documentid=5930 Page 250. The Police and Fire pension funds were the worst funded. […]
by: Diane Benjamin Tomorrow the Bloomington City Council will meet ALL DAY to discuss the City budget. Mayor Renner and City Manager David Hales are presenting “Culture Change”. They want raises for City employees and 17 new employees. Those 17 new employees come with 17 new pensions. The City of Bloomington pension systems are severely […]
When investments in the pension funds don’t perform at the level required for adequate funding, the taxpayers are forced to make up the difference. Is anybody making up for your 401K losses? This is 1 of 5 state pensions funds, all have dismal returns. Pensions reforms are being debated, but it is not likely the […]
Illinois Watchdog SPRINGFIELD — Illinois can either pay for students to learn or for teachers to retire. It cannot afford both.Illinois’ appointed State Board of Education on Thursday asked lawmakers to pay for learning. The state board approved a nearly $5-billion budget request that would fully fund education for the first time in Illinois since […]
