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 […]
By: Diane Benjamin Projects governments dream up never include the true cost, interest paid for decades could increase the price by 50%. It could be even worse for Normal because they are paying no principal on many of their bonds – just interest. Monday night is the semi-annual bond payments approval festivities. Of course, discussion […]
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 […]
By: Diane Benjamin Follow-up to this story: https://blnnews.com/2019/03/29/the-tale-of-two-downtowns/ How much does a pretty downtown cost? I find it hilarious that RC McBride is running radio ads asking for your vote claiming they have paid off $10 million of debt. They may have, but he doesn’t mention how much debt they still have left to pay. […]
