By: Diane Benjamin
Tomorrow night the City of Bloomington is finally going to release the financial statements for the year that ended SEVEN months ago. The only reason they are releasing them is because the data is already available on the Comptroller’s website.
The previous year they reported this:
Population is dropping while Part-time employees went from 55 to 566?
The total payroll increase is close to 5%.
What did the Coliseum Cost?
Remember how it was never going to cost you a cent?
See the expenses page – line 257C (Other). The line is described on the Explanation Link.
Since pensions are destroying budgets across the state, that’s the first place I go to. Here is where the police and fire pensions stand as of April 30, 2018: Pension Funding
Under 2017 it appears the wrong dates were entered. The interesting numbers are the percentages – that’s percent funded. Flip back at the link above to prior years. In 2013 the Fire was funding at 53.3%, Police at 51.7%. The last line is the net pensions obligation. Yes, that’s a total of almost $123 MILLION the taxpayers of Bloomington owe. A total of $11,465,793 was thrown at pensions for the year, the City is now back to where they were 5 years ago. (see the fund listing and accounts group page)