By: Diane Benjamin
This statement is in a letter to Mayor Renner delivering the completed financial statements as of April 30, 2017:
The letter is signed by David Hales and Patti-Lynn Silva. Director of Finance.
Since Hales is gone, Patti-Lynn needs to explain why the financial statements weren’t released until December – 8 months after the year ended.
They were done at the end of October. Somebody at the City decided not to release them.
The letter begins on page 7. It is dated October 26, 2017. It has lots of gems like this one on page 12:
448 City employees have a base pay greater than the median HOUSEHOLD income! That doesn’t include pensions and benefits. Many are way above the median household incomes. See 2016 compensation HERE
Also on page 12, the City plans to end Sick Leave Buy Back through collective bargaining agreements. I would be happy if they just ended pension spiking by paying it after the employee leaves, much easier to achieve.
PDF page 14 – expect more tax increases:
The good news is Long Term Debt decreased, the bad news is it’s still $266.7 million. PDF page 21:
PDF page 26 – $24.8 million still left to pay for the Coliseum.