By: Diane Benjamin
If you still haven’t played with the Local Government Reporting on the Illinois Comptroller’s website, do it now!
This is the link to Normal’s reported debt: https://illinoiscomptroller.gov/constituent-services/local-government/local-government-warehouse/processsearchresults/?DisplayMode=GETAFR&AFRDesiredData=Indebtedness&Code=064/095/31&CFY=2022&Menu=Yes&PrintIt=No
At the beginning of FY 2020 total debt was:
At the end of FY 2020 total debt was:
At the end of FY 2021 total debt was:
At the end of FY 2022 total debt was:
(under Expenditures at the bottom of the page)
FY 2020 3,104,511
FY 2021 3,031,669
FY 2022 2,780,782
Total Interest Paid: $8,916,962
Total Principal Paid: $8,603,122 (88,090,580 – 79,487,458)
Normal paid $313,840 more in interest than principal.
Koos has stated Uptown was a 40 year investment, Normal is already close to 20 years into that 40 year plan.
Stay tuned, Uptown 2.0 is next. Of course more debt because Koos thinks government needs to control the economy. Filled those two empty banks and diner in Uptown yet Koos?
Funny how government doesn’t have the same problem throwing away money paying interest us plebes do. Of course it isn’t their money they are throwing away. TIF reports aren’t available yet, Uptown should be interesting! (It’s only 7 1/2 months after the end of the fiscal year, why rush?)