From page 179 of the Annual Financial Report:
Debt per Capita (Citizen)
2012 $1,307.07
2011 $ 1,214.69
2010 $ 1,276.32
Finances getting better? Yes, but at who’s expense?
From page 180: General Bond Debt
In 2003 bond Debt Outstanding per Capita $ 325.60
In 2012 bond Debt Outstanding per Capita $ 887.16
It was as high as $970.18 in 2008, moved down until 2011, then went back up
From page 85:
In 2012 the City issued $7,660,000 General Obligation Bond to pay the early retirement liability to the Illinois Municipal Retirement fund.
Was offering early retirement a good thing?
From page 34 with an explanation of pages 65-66:
Employees can accumulate unpaid vacation and sick pay. The accumulated debt as of 4/30/12 was $9,872,000
From pages 116-119: Pensions Funding
Police pensions funded at 58.23%
Firemen pensions funded at 51.38%
Other employees pensions funded at 31.95%
Post employment benefits funded at 0%
The accrued liability for Post employment benefits 5/1/11 was $18,839,491. Benefits are paid from the general fund instead of set aside in advance.
Much more to come.