More on Normal’s credit rating AND debt

By:  Diane Benjamin Normal reported the same credit ratings in their financial statements that I reported in this story:  https://blnnews.com/2019/12/07/moodys-normal-doesnt-have-a-aaa-credit-rating/ PDF page 33:  https://normal.org/DocumentCenter/View/15625/CAFR19-FINAL-DOC What they failed to tell you is that Fitch is owned by a French company and is the smallest of the “Big Three” ratings companies.    https://www.sapling.com/7319147/sp-moodys-fitch-ratings S&P doesn’t not have […]

Bloomington’s debt ISN’T the Coliseum!

By:  Diane Benjamin Yes, I know I posted this yesterday.  I wouldn’t be re-posting this picture if it wasn’t vital to understanding what is happening to Illinois. Government across Illinois exists for government employees. It does not exist to handle problems citizens can not handle themselves.  This is the proof: An overwhelming percent of the […]

Why Bloomington can’t fix the roads

By:  Diane Benjamin The financial statements for Bloomington’s year ended 4/30/19 are finally being presented at Council Monday night:  https://www.cityblm.org/Home/ShowDocument?id=23337 The chart below shows the long term debt.   Why can’t the roads be fixed?  Because retired employees need paid.  OPEB is Other Post Employment Benefits.  Look closely at these numbers! PDF page 31 This chart […]

See the Pension Problem Here:

By:  Diane Benjamin Normal has 136 retired employees collecting a pension.  The information below is from OpenTheBooks.com    https://www.openthebooks.com/Pension/TownNormal At Monday’s Council meeting Karyn Smith asked the Finance Director how much employees contribute.  Police and Fire contribute between 9.8 and 9.9%.  Other employees contribute 4.5%.  All will also receive Social Security.  See the video at […]