OK, Council, you said you’d bond out no more than $12 million but now staff is coming at you with a proposal for borrowing $14 million. It’s not that Peace Road and the fire stations don’t need attention. They do — especially Station 2. But is this really the way to do it? Bundling the…
Tag: budget
Budget Contingencies FY2013
DeKalb budgeted $375,000 in contingencies this year, which is a lot more than usual. I didn’t understand all of the abbreviations so I asked about them and here’s the poop scoop: Management Compensation Study — $5,000 Emerald Ash Borer — $75,000 Housing Study (w/NIU) — $45,000 Code Enforcement — $150,000 TIF Study — $50,000 EPI…
City Revenues from Corn Fest 2011
We need for DeKalb to collect, at minimum, about $30,000 in Corn Fest annual revenues on behalf of DeKalb Taylor Municipal Airport (DTMA) because that’s what city administrators told the FAA it would do. They also said they’d put these revenues, consisting of sales taxes and parking fees, directly into the airport fund instead of…
City Payments to Klein, Thorpe & Jenkins
DeKalb city manager Mark Biernacki entered into a contract agreement last fall with the firm Klein, Thorpe and Jenkins, using his ordinance-given spending authority (PDF p. 55). A professional services contract had been entered into by the City Manager, on behalf of the City Council, with the firm Klein, Thorpe, and Jenkins to conduct research…
DeKalb’s TIF District 2
Tax Increment Financing (TIF) District 2 is described in city budget narratives as running south of the downtown but north of Taylor Street. Annual TIF 2 expenditures generally include: $250-300,000 in economic incentives to Target rehab, repairs and/or improvements to Barb City Manor and the Municipal Building about $150,000 in transfers to the General Fund…
A Look at the Central Area TIF Funds
Yesterday there was a lot of news coverage about Chicago’s forecast inability to finish its planned Tax Increment Financing (TIF) projects now that property tax revenues are down. Coincidentally, I’ve been peering at DeKalb TIF funds recently, looking for the same kind of trouble. Fund 63 is the DeKalb TIF fund that pays for development…
Progress at the Airport
I decided to see if DeKalb Taylor Municipal Airport has made progress in growing its non-governmental revenues now that it has added fuel sales and new tenants. Below is a table showing the primary revenue category, rentals, along with the newbie, fuel sales. These are not the only non-governmental revenues, but the remainder combined don’t…
Safe/Quality Housing Recommendations: A Matter of Trust
Soon the DeKalb city council will be deciding what steps to take, if any, in response to recommendations made by the Safe/Quality Housing Task Force and by its own staff. They include proposals for a “disorderly house” ordinance, issuance of Crime Free Lease addenda, and regulations for the registration, licensing and inspection of rental properties.…
Updated Year-Over-Year Revenue Tracking
I’ve re-visited previously published revenue tables in an ongoing effort to monitor DeKalb’s financial recovery. Are we yet on solid financial ground? Make the jump to see what you think. (FYI this is a long one, folks.)
DeKalb’s Pension Cost Acceleration
[easychart type=”horizbar” width=”420″ title=”Police and Fire Pension Costs in Millions of Dollars” groupnames=”Annual Pension Costs” valuenames=”FY2004, FY2005, FY2006, FY2007, FY2008, FY2009, FY2010, FY2011″ group1values=”1.55, 1.72, 1.8, 1.98, 2.23, 2.38, 2.86, 3.36″ minaxis=”1.5″] Annual pension costs (APCs) are what the city contributes to the pension funds each year. APCs were increasing about 10% annually earlier this…