Debt: Normal vrs Bloomington

By:  Diane Benjamin As of 3/31/18 Normal had total debt of $89,823,286.  $88,125,000 won’t be paid off until 2041.  Interest rates range from 2.00% to 6.30%. Source As of 4/30/18 Bloomington had total debt of $242,010,034.  $57,095,000 won’t be paid off until 2035.  The interest rates aren’t listed.  $173,646,119 is liabilities for pensions and associated […]

Where does the Pantagraph get their numbers?

By:  Diane Benjamin https://www.pantagraph.com/news/local/govt-and-politics/years-after-debt-free-milestone-normal-stands-by-uptown-spending/article_3fc56076-8d9b-5367-9899-4af94445ed20.html#tracking-source=home-top-story The Pantagraph ran this cute story about Normal on Tuesday.  Quote from the article: Question: Does Normal not know how much debt they are in, or is the Pantagraph making up numbers? Town of Normal – Comptroller This is the debt reported as of March 31, 2018 to the Illinois Comptroller’s […]

Like Debt?

By:  Diane Benjamin See this story from December 2, 2017   https://blnnews.com/2017/12/02/normal-tossing-money-yours/ Bond payments look like they are made twice a year. On the agenda for Monday night:  Interest payments of $1,541,388.73     http://www.normal.org/ArchiveCenter/ViewFile/Item/2973 In December the interest payments totaled $1,628,761.92 That’s a decrease of $87,373.19 Total debt is decreasing slowly – it was $92,320,992 at […]

How bad are Normal’s finances?

By: Diane Benjamin What we do know: The freshman class this year at ISU was down 9.3%     https://blnnews.com/2017/09/07/numbers-lie/ State Farm has cut employees and is cutting more Normal has a budget deficit (local media reports) The Normal Library has decided not to build new – the library WAS the centerpiece of Uptown 2.0  (local […]

Normal: Found in the financial statements

By:  Diane Benjamin If the Comptroller’s office ever does their job, comprehensive TIF reports will be available.  So far they don’t have the software completed to allow entry of information.  Information from 3/13/17 for Normal and 4/30/17 for Bloomington isn’t complete. Normal’s 3/31/17 financial statements: http://www.normal.org/DocumentCenter/View/12750 PDF page 30: The Uptown TIF Fund reported a […]