By: Diane Benjamin Review this story about the underpass, it has lots of the underpass history: https://blnnews.com/2024/11/27/normals-underpass-history/ See the email in that story. The underpass SAVES 50 FEET for the low cost of $40,000,000+. Tonight’s Packet PDF page 76: https://www.normalil.gov/ArchiveCenter/ViewFile/Item/5414 Social media comments have destroyed Koos and Company ever since this idea was floated: . […]
By: Diane Benjamin I continue to see comments concerning Normal’s debt. Some people don’t understand Normal paid off all their debt so they could take out bonds for the grand Uptown plan. TIF report as of 3/31/2024: https://files.illinoiscomptroller.gov/LocGovTIF/FY2024/06409531/24TIF06409531Downtown_volpment_1.pdf PDF page 8 shows the debt Normal too on for Uptown: The point of creating a TIF […]
By: Diane Benjamin I’m sure this debt comparison is temporary since Bloomington is going on a spending spree (not to fix the roads). According to the Illinois Comptroller’s website – Bond Debt: Bloomington as of 4/30/2023: Normal as of 3/31/2023: The Uptown TIF ends in 2026 meaning Normal’s taxpayers will be paying off the debt […]
By: Diane Benjamin At last Tuesday’s meeting a representative from Stifel Public Finance made presentation. As reported yesterday this presentation was to inform the board about the status of bonds, when some would be paid off, and clear the way for new bonds for another building project. If I hadn’t been at the meeting to […]
By: Diane Benjamin At last night’s Council meeting the Kevin McCarthy had to point out the Town paid off an $8 million bond from 2012. Wonderful, but how much debt is left? As of 3/31/2021 the Town reported $81,345,000 to the Comptroller’s Office: We won’t know the exact number until the 3/31/2022 reports are released, […]
By: Diane Benjamin $270,944,173 Again this year Bloomington’s finances are on the Illinois Comptroller’s site BEFORE the City gets around to releasing the CAFR (financial statements). The fiscal year ended 4/30/2020 – almost 6 months ago. Why rush? What do they show? Bond Debt: 47,780,000 IMRF pension debt: 12,821,451 Police Pension Debt: 77,693,023 Fire Pension […]
By: Diane Benjamin From the Illinois Comptrollers website: https://illinoiscomptroller.gov/financial-data/local-government-division/local-government-data/processsearchresults/?DisplayMode=GETAFR&AFRDesiredData=Indebtedness&Code=064/095/31&CFY=2020&Menu=Yes&PrintIt=No Bond debt and “Other” = $85,752,874 Note: The Town only paid off $2,205,000 the entire year. Keep in mind NO principal is being paid on some of the loans, just interest. They forgot to say what “other” is: (did the same in 2019 and 2018) Pensions […]
By: Diane Benjamin http://normal.org/DocumentCenter/View/17188/CAFR20-FINAL-DOC From Normal’s just issued financial statements as of 3/31/2020: Note the Long-Term total debt – $224,909,947. It increased more than $25 million in 1 year. What makes up that debt? $84,320,000 is bond debt, the IEPA loan doesn’t have interest expense. PDF page 31 Below is a chart showing the biggest […]
By: Diane Benjamin Since a BIG part of Normal’s population is college students, the census could have a huge impact on government funding. The Town of Normal shouldn’t have to worry about the census if Illinois State University cooperates: https://www.census.gov/newsroom/press-releases/2020/modifying-2020-operations-for-counting-college-students.html Student living on campus might be counted by the university, they wouldn’t need to fill […]
By: Diane Benjamin Let’s talk debt. Want proof the Town doesn’t care about anything except the ability to make the payments? Budget: https://www.normal.org/DocumentCenter/View/16302/2020-2025-Budget PDF page 233: What that means is the total cost, including interest, is immaterial. That is why Normal has bonds they are paying ZERO principal on. They can afford to throw away […]
By: Diane Benjamin Below are the same charts I used in the Bloomington Debt story: https://blnnews.com/2019/12/31/bloomington-debt-2/ Liabilities – Government Activities – Due beyond one year: Source 3/31/19 – $183,410,936 3/31/18 – $171,607,747 3/31/17 – 173,618,828 As of March 31, 2019 Source IMRF pension liability : $ 20,832,186 Police pension liability; $ 35,840,310 Fire pension […]
