Mayor England has stated he "does not borrow from our Sewer Fund!"
Well, that's not what John Skomp of Crowe Horthwath Report says:
Statement of Receipts and Disbursements of September 30, 2009:
New Albany Municipal Sewage works:
Tap-In and Drainage Fees...$244,210
EDIT (1) Transfer Required
by Ordinance.....................$1,645,000
EDIT (1) Transfer-
Additional.........................$----------
TIF (2) Reimbursement......$----------
Stormwater Collections and
Interest............................$1,183,686
General Fund Transfer
for Payroll........................$20,000
Proceeds from 2007 BAN...$1,183,686
Sanitation Interest............$----------
Debt Service Reserve
Receipts...........................$4,858
Escrow Release................$56,572
Interest Income...............$8,959
Total Other Receipts........$4,274,797
Other Disbursements:
Transfer to Stormwater
Fund..............................$1,052,479
*Loan to General Fund........$70,000
Right of Way.....................$98,067
Sewer Renovation.............$1,381,094
Capital Leases...................$---------
Transfer to Bank of
New York.........................$795,205
Transfer to Bond and
Interest Fund...................$5.00
Principal and Interest
Payments.........................$4,815,395
Registrar and Paying
Agent Fees.......................$7,677
Cost of Issuance on
Bonds.............................$--------
Interest Expense.............$105,729
Total Other
Disbursements...............$8,325,651
Net Receipts..................-$210,538
(1) Economic Development Income Tax (EDIT)
(2) Tax Increment Financing (TIF)
Source: John Skomp, Crowe Horthwath
Freedom Of Speech would like to say: "You can't argue with the facts...Mayor England!"
Is this what he means, when he says: the sewer, police and fire is under funded?
