Carol Becker wrote: "And sometimes people don't understand the figures at all..."
Vicky responds: You hit the nail on the head - I haven't found anyone who understands the figures. The "2003 Truth in Taxation "Budget" looks more like a letter to Santa Claus. It is apparent that Ms. Becker has more experience in "public finance" than I do, so perhaps she would be kind enough to shed some light on where the City expects to get the $1.22 billion in revenue for 2003. Specifically, where is the $146.4 million of "Other" income coming from? If Minneapolis receives only $60 million from the State, not $158. 6 million, how will we make up the difference? If the recession takes a toll on sales tax receipts, permits, etc., how will we make up the difference? What do we do if people can't pay their property taxes, or petition the Tax Court for relief (the deadline to do so is March 31st)? >From the MCDA financial statements: "the MCDA has chosen NOT TO APPLY accounting standards issued by the Financial Accounting Standards Board after November 30, 1989, to its proprietary funds." That doesn't sound like a GAAP move (generally accepted account principles = GAAP.) Do you know why, Ms. Becker? Are the Brookfield, Target, Block E, Stimson debts included in "self-supporting" bond debt? Where might we find the specific debts included in the $829.9 million of "self-supporting" bonds. Why do we have Truth in Taxation hearings? If the intent is to inform the public, and explain what their property taxes pay for - IT'S NOT WORKING. I would love to know how much I pay for Police and Fire protection as opposed to corporate welfare and its related debt service. Please help me (and others) understand. Here is the revenue side of the 2003 $1.22 billion budget - 329,400,000 From Selling Services 158,600,000 From State Government 158,600,000 From Property Taxes 146,400,000 From Other 122,000,000 From Other Funds 61,000,000 From TIF Property Tax 48,800,000 From Federal Government 48,800,000 From Rents 48,800,000 From Sales & Other Taxes 24,400,000 From Franchise Fees 24,400,000 From Licenses & Permits 12,200,000 From Local Government 12,200,000 From Selling Things 12,200,000 From Fines and Forfeitures 12,200,000 From Special Assessments Vicky Heller Cedar-Riverside and North Oaks TEMPORARY REMINDER: 1. Send all posts in plain-text format. 2. Cut as much of the post you're responding to as possible. ________________________________ Minneapolis Issues Forum - A City-focused Civic Discussion - Mn E-Democracy Post messages to: mailto:[EMAIL PROTECTED] Subscribe, Unsubscribe, Digest, and more: http://e-democracy.org/mpls
