Tuesday, July 27, 2010

$1.3M Pendulum Swing

At last night's Finance Committee meeting, a major budget development was revealed.

The bottom line:
Instead of taking $800,000 from Fund Balance in addition to making $1.2M of temporary budget reductions, after virtually all bills are in, the budget picture grew a whole lot rosier.
We actually INCREASED Fund Balance by $500,000.

That means a net change in the budget picture of PLUS $1,300,000

You will hear the details of this at tomorrow night's public hearing on the budget.

What does it all mean?

Remember all those snide comments about those horrible elector type people that severely damaged the district? Nuh uh.

Remember all that fear mongering about "the rebound effect" and that our credit rating would drop? Poof!

Perhaps the board's "outcry" regarding the electors' decision was more feigned than real. The district likes to have their play money, but very clearly, we CAN do just fine---in fact have a surplus--even with a little cutting.

Yes, Virginia, there MUST be a Santa Claus....because, in the end the levy was reduced by $2,000,000 and we STILL had a surplus of $500,000.