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 […]

Normal: Financial Trends

By:  Diane Benjamin I’ve heard from numerous sources State Farm is not done downsizing their workforce.  If local governments don’t tighten their belts, the flight of residents will do it for them. These numbers were complied from what Normal reported to the Comptroller’s office:  Source: Normal – Warehouse   Note the number of employees.  Remember […]

Ah . . Public Comment

By:  Diane Benjamin Normal Town Council last night: First to speak was Craig Stimpert. (4:27) The topic was pensions funding and the constant raising of property taxes to fund them.  Craig called this Town practice unsustainable.  The Town uses property taxes because they refuse to make pension funding part of the budget.   He called out […]

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 […]

Pepsi Ice? Coliseum? Tax increases?

By:  Diane Benjamin Pepsi hasn’t paid for naming rights at the Ice Center for years.  That doesn’t keep Bloomington from still giving them free advertising: PDF page 196 of the annual financial statements:     http://www.cityblm.org/home/showdocument?id=20281 “Pepsi” is also on PDF pages 32 and 33. Grossinger Motors does pay for naming rights of the former US […]