| Author
|
Post |
 
|
|
untanglingwebs
El Supremo
|
| The City Hall grapevine is usually very reliable. Right now the rumbles are that Flint City Assessor Bill Fowler wanted to lower property taxes to relflct lower property values, but Brown refuses. Allegedly Brown wants to increase pproperty taxes to help pay off the deficit, new lawsuits and monetary paybacks to the federal government over misspent HUD funds. |
|
|
Tue Jan 17, 2012 9:31 am |
|
|
untanglingwebs
El Supremo
|
Brown has submitted his "financial plan" to the state, but told the media the plan will not be made public until the state reviews it and spproves.
If you go to the City of Flint website, the CAFER, a comprehensive review of Flint's finances is available on line.
Page 7 MANAGEMENT'S DISCUSSION AND ANALYSIS (Government-wide Financial Analysis)
"Net assets may serve, over time, as a useful indicator of a government's financial position. Total assets of the City of Flint are $656.4 million. Total net assets (total assets less total liabilities) are $218.9 of which the largest portion $304.3 million (138.8%) reflects an investment in capital assets (e.g. land, buildings, streets, sidewalks, machinery and equipment) less depreciation and any related debt used to acquire those assets tha is still outstanding. The City of Flint uses these capital assets to provide services to citizens; consequently these assets are not availablefor future spending. Although the City of Flints's investment in its capital assets is reported net of related debt, it should be noted that the resources needed to repay this debt must be reported from other sources, since the capital assets themselves cannot be used to liquidate these liabilities
Of the remaining portion of the City of Flint's total net assets, $20.4 million represents resources which are subject to external restrictions on how they may be used. The unrestricted deficit at year end was $105.8 million. There is no remaining balance of of unrestricted net assets that may be used to meet the government's ongoing obligations to citizens and creditors. Net assets are divided between governmental activities and business-type activities .
Governmental activities show a $148.8 million deficit in unrestricted net assets. The $148.8 million deficit results from the increase in short term and long term liabilities, mainly $126.7 million in post-employment healthcare liability.
|
|
|
|
Tue Jan 17, 2012 9:53 am |
|
|
untanglingwebs
El Supremo
|
CAFER page 5 definitions:
The governmental activities of the City of Flint include general government, police, fire, transportation, public works, parks & recreation and community enrichment and development.
The business-type activities of the City of Flint include the hospital, watersystem, ans sewer system. |
|
|
|
Tue Jan 17, 2012 10:07 am |
|
|
untanglingwebs
El Supremo
|
Page9
"As of the end of the 2011 fiscal year, the City of Flint's governmental funds reported a combined ending fund deficit of $0.2 million,
an increase of $8 million from the prior year. This increase mainly relates to the City receiving $8 million from the State in deficit elimination bonds. An approximately $8.9 million deficit constitutes unassigned fund balance
.
The General Fund is the chief operating fund of the City of Flint. The City of Flint ended with a $7.3 million deficit in 2011. This is 10,7 % of the total revenues. This is the result of the $14,6 million deficit from 2010 less a reduction of $7.3 million in 2011. The general fund operated at a deficiency of expenditures over revenues for the 2011 fiscal year in the amount of $0.2 million.
However, the General Fund did borrow cash of $3.0 million from various funds for working capital in 2011 and also, as mentioned above, received $8 million in deficit elimination bonds from the state and then transferred out $3.5 million to cover operations in other funds of the City that are operating as deficits, such as the Building Department and Parks and Recreation. The decline of the general fund cash is mainly due to a reduction in property tax collections due to declining taxable values ($1.1 million) and fines and forfeitures ($.4 million)
|
|
|
|
Tue Jan 17, 2012 10:27 am |
|
|
untanglingwebs
El Supremo
|
continued:
The remaining governmental funds have a fund balance of $7.1 million, of which virtually all of it is nonspendable or restricted for specific purposes.
The largest fund balances among the governmental funds are the Major and Local Streets, $2.2 million and capital Improvements, $2.8 million. Other special revenue funds are maintained primarily to demonstrate accountability. Federal or local laws restrict the funding in these departments. |
|
|
|
Tue Jan 17, 2012 10:32 am |
|
|
untanglingwebs
El Supremo
|
| Brown submitted a deficit reduction plan in April 2009 with the State that was to start in 2010 and last for 5 years. Failure to adhere to that plan resulted in the State takeover. |
|
|
|
Tue Jan 17, 2012 10:34 am |
|
|
untanglingwebs
El Supremo
|
Page 10 continued:
Proprietary Funds (Hurley, Water and Sewer)
"Total net assets in the Water Fund are $18.4 million, a decrease of $6.6 million from the previous year attributable mostly to operating income as rates charged did not cover costs to run the system. The water Fund has a bond reserve account of $2.8 million and an equipment reserve account of $3.0 million. Water operating revenues, plus interest income, exceeded total operating costs, less depreciation, less OPEB , by $4.6 million. The combined interes and principal payments were $2.1 million, providing a legal debt margin below the required 125%.
Net assets of the Sewer Fund decreased by $14.1 million to $65.5 million/ Sewer operating revenues increased slightly by $1,7 million, while sewer operating costs to run the system out ways (sic) the money being brought in ."
NOTE: Despite problems with the water and sewer operating funds, the City committed these funds for the construction of Smith Village in phase 1 of 3 phases. |
|
|
|
Tue Jan 17, 2012 10:47 am |
|
|
Dave Starr
F L I N T O I D
|
| Revenue down, so taxes get raised. People either can't afford higher taxes or don't want to pay them, so they leave. Fewer residents paying taxes = lower revenue, so then what? |
_________________
I used to care, but I take a pill for that now.
Pushing buttons sure can be fun.
When a lion wants to go somewhere, he doesn’t worry about how many hyenas are in the way.
Paddle faster, I hear banjos. |
|
|
Tue Jan 17, 2012 10:57 am |
|
|
untanglingwebs
El Supremo
|
Page 10 continued:
BUDGETARY HIGHLIGHTS
"Original to Amended-The General fund amended revenues budget of $60 million was $4.6 million greater than the original budget. The budget was amended due to addional local grant revenue that was not originally anticipated.
The General Fund amended expenitures budget of $62.5 million was $5.1 million greater than originally budgeted for due to budget staffing cuts that were not made
.
(Note: the last sentence explaining the majority of the increase is incomplete)
Amended to Actual-General Fund expenditures totaled $67.3 million, $4.8 million more thn the final amended budget. General fund revenues of $67.2 million were $7.2 million above the amended budget . The largest difference between budget and actual expendituresis in General Government ($6.5 million which was due to the Genesee Towere settlement) and public safety ($2.0 million) the biggest losses in revenue came from property taxes ($1.6 million), fines and forfeits ($.7 million) and local grant revenue ($.9 million), while the majority of the increases over budget for revenues related to the Genesee Tower judgement levy that was received in the current year but not budgeted for. |
|
|
|
Tue Jan 17, 2012 11:07 am |
|
|
untanglingwebs
El Supremo
|
The financial plan is now on line.
But the fifty million dollar question is how do we finance everything Brown wants?
Fixing the Holloway Dam once estimated in the $8 million range
Opening the impound lot again- someone removed all of the cameras and the contract with Complete Towing would have to be rescinded.
Opening the jail by contracting it's operation to an outside contractor.
Smith Vilage- Brown is investigating allegations of improprieties. That is one way "government protects government". By identifying and setting up a mechanism to prevent future improprieties in the DCED, Brown can circumvent a significant number of penalties and pay back of funding. After all Obama, HUD and the State of Michigan want a successful project and not a failure wrought with abuses.
'How will the City pay for everything Eason promised HUD for Smith Village?
All of the infrastructure, sidewalks, landscaping, a health center, a child development center and a center for the performing arts./
Same for the Department of Energy grant- the right kind of response can reduce many of the pay backs. The City only has to show this is a new administration determined to repair the misuses of the prior administration. |
|
|
|
Wed Jan 18, 2012 6:49 pm |
|
|
untanglingwebs
El Supremo
|
This commentary was in an article about the unions waiting to meet with Brown on their expired contracts, but I found it to be a compelling argument. What do you think?
Flint MI USA January 19, 2012 at 2:06AM
Follow
Perhaps now is the time, the best time, to strongly consider re-aligning ALL public safety positions within COF and GC under one command structure.
City of Pontiac did it and yes, I know it is Oakland County and I know "its different down there." Each time I suggest this, I'm bombarded with direct e-mails and/or replys. Its a suggestion, an option which needs to be strongly considered since we, the COF, has "0" dollars, no leverage and apparently, (6) homicides YTD!
Here is a thought - aside from above, to generate funds - terminate the Complete contract and set up a joint City-County Division - let this entity handle "each and every" impound within Genesee County.
Set up a mandatory $150 release fee for each impound (with some exceptions). Take bids from local towing companies - pay them X for the impound, City/County maintains a centralized (or perhaps two) major storage lots, and divvies up the fees back to the City-County based on where the impound occurred. Within six months, re-open the City Jail and bring on extra deputies,officers to augment current staffing levels.
Its quite simple really. Only people who"lose"out on this option are the towing companies making hundred and hundreds of thousands dollars annually (each). Thats the conservative estimate. Its actually in the millions when you look at net proceeds from car/truck auctions.
WHY is it so difficult? Everything I just referenced is being handled this way in cities & counties throughout the Country now. |
|
|
|
Thu Jan 19, 2012 7:53 am |
|
|
untanglingwebs
El Supremo
|
More from Flint MI USA
Deelee - if handled properly, administered correctly, overall costs would decrease for each service provided. Key point there is "if" administered properly, regardless of which municipality we are discussing.
What many suburbanites need to understand, comprehend overall is "what happens in Flint, MI does not necessarily stay in Flint, MI" any longer. The crime is spilling over, the thugs and wannabes, even the "ladies of the night" are spilling out into the County jurisdictions.
This is truly a County wide issue and in my opinion, shared services are a must for the smaller communities, townships, etc.
I can vision a Metro Public Safety Department comprised of Davison, Davison Twp, Richfield Twp, Atlas Twp, etc to handle the Eastern side of GC. It makes sense. One chain of command, one supply and one HR structure. Many $$$ could be saved.
With respect to the Detective Division, GC already has the GAIN auto theft unit. Lets expand them, utilize them cross county now. It makes sense. Same for the FANG unit - expand it if need be and let them handle all drug operations County wide. We do NOT need nor can we afford a Detective in each and every one of these smaller entities.
If we, Davison proper, can not work with GCSD for whatever reason, set up a Metro Division as I alluded to above and use those detectives under your direct control.
There are options but ALL of them mean hard decisions ahead for each and every City Council. Good luck.
Posted on Davison looking at more shared services with municipal neighbors on January 16, 2012, 4:33PM |
|
|
|
Thu Jan 19, 2012 7:56 am |
|
|
untanglingwebs
El Supremo
|
| Bill Fowler has prevailed and most residents will see a 20% decrease in their taxes because of declining property values. Bad news for the City Budget though. |
|
|
|
Tue Feb 14, 2012 1:58 pm |
|
|
|
FAQ
Search
Memberlist
Register
Profile
FlintTalk.com Forum Index
> Political Talk
