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%.
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What did the Coliseum Cost?
$3,825,860
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.
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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)
ALEX give me Broken States for $200.00
Yes and that reads, “The people of Illinois are fleeing their home state in droves.”
“What happens when taxes get higher and higher and freedom is stifled every step of the way.”
Right.
Alex lets stick with Broken States for $600.00
Okay and that reads, “Again it’s Illinois, haha, 4 years of Governor Rauner was failure.”
“What happens when the 20 year speaker of the house, Mike Madigan a democrat swears at Rauner’s inauguration to not cooperate in anything Rauner wants to pass.”
Right.
Okay, it’s time for a commercial break.
Don’t they have anybody proof the numbers before they submit? Jeesh!!!
I don’t know if the error is Bloomington or Controller
Sadly, the multi-million dollar Coliseum loses and pension fiasco come as no surprise…unless, of course, you work for the local governments or believe whatever they spoon feed you. Ignorance is bliss, I suppose. The large number of part-time workers, however, is quite alarming. I’m curious to know in what capacity they work. Mathematically, it doesn’t reflect a transition from full- to part-time. So, these would then mostly, if not all, reflect new folks. Community organizers? Perhaps, they are tasked with rounding up businesses for the new tax, er…I mean, “fee”, for doing business in Bloomington. Couldn’t help myself. Hopefully, it’s just a fat finger error which is possible given the numbers YOY. Normally, I give the benefit of the doubt but consider the source.
The CARF for FY 2018 claims that SLBB was addressed. Excuse me!! The ordinance to begin future contact negotiations to limit the effect of pension spiking was just passed in FY 2019. This report will become the official record—a false one.
One more thing—check out the TIF account balances. Empire Crossing a positive $700. Downtown (Front & Center) a negative $98,000.