By: Diane Benjamin
Below is one of the debt tables I misinterpreted. Government accounting is different from the private sector. To me, as a CPA, listing a payment from 2020-2024 means that payment will be made for 5 years. To government, that amount is the total. This table is from the CAFR – the financial statements issued for the year ending 4/30/2014. http://www.cityblm.org/Modules/ShowDocument.aspx?documentid=7479
A better reflection of the debt can be found on pages 131-132: (Click on it to enlarge)
The debt has been going in the wrong direction for years!
Meanwhile, essential city services, like roads and sewers, are falling apart. Instead, your mayor wants a hotel downtown.
Think new leadership on the Council is needed?