City of DeKalb released its Comprehensive Annual Financial Report (CAFR) for fiscal year 2015, which ended June 30. I’m sure city staff will also release the Popular Annual Financial Report (PAFR) as they did last year. It’s a dumbed-down version of the CAFR that nobody asked them to compile, but they get some sort of…
Tag: budget
What the hiring spree has ruined
Former DeKalb Alderman Pam Verbic wrote current Mayor Rey a detailed letter regarding the upcoming property tax levy vote. Find it here. I hope you will read the whole thing. Each of Ms. Verbic’s points is well taken and stands on its own. I don’t intend to rehash the letter. But her #4 relates closely…
$800,000 in Expenditure Cuts? Lol. Try $2.3M in Increased Personnel Costs
One argument in favor of hiking property taxes in City of DeKalb is that the city has reduced general operations (General Fund/GF) budgeted expenditures by $800,000 from last fiscal year to this one, which ostensibly shows that DeKalb has already cut expenditures to the bone. Hogwash. The fact is, DeKalb has a runaway spending problem,…
DeKalb’s Shortage of Magic Rabbits
As the city ponders a property tax hike of 37% as well as water rate and fee “adjustments,” you may wonder how DeKalb has got itself mired in financial straits. It’s actually nothing new. DeKalb’s budget issues are — and have been since at least 2005 — the result of snatching nearly every penny of…
Numbers to Consider During the Budget Process
The data for the following charts come from Comprehensive Annual Financial Reports (CAFRs). In view of DeKalb staff’s continually stated desire to hire, I’ve begun with a look at the numbers of full-time equivalent employees. The city is using a figure of 220 city employees during its budget process instead of the most recently available…
Municipalities Could Face Cuts in State Funding
The governor’s proposal to make huge cuts in funding to state universities is the big news today, but municipalities are facing a similar threat. At Monday’s council meeting, DeKalb’s finance director will present the mid-year budget report. The city appears to be pretty much on target for the current fiscal year, but administrators are concerned…
Variable Revenues are Replacing Taxes in DeKalb & This is Not Good News
A few days ago in another post I said this: Fine/fee revenue can be highly variable, as we’ve seen with the disappearance of building permit revenues. TIF districts have time limits and both of ours expire at the end of the decade. These are appropriate sources for making capital improvements as you can. They are…
Post-Recessionary Trends & Responses
The City of DeKalb released its FY2014 Comprehensive Annual Financial Report last month, and as usual there’s plenty to digest. A large part of this report draws data from supplemental reports found in the back of the CAFR, some of which track the past 10 fiscal years and are therefore useful for understanding the lingering…
Sifting Out What’s Important to the Property Tax-Pension Funding Discussion
DeKalb city staff have come up with a proposal to raise the city’s property tax levy by 10%. Daily Chronicle reports that the council gave initial approval on Monday. Here’s how the city is presenting the recommendation: City staff want to move away from the current practice of using the general fund to pay for…
Some of DeKalb’s Street Funding Woes Arise from Desire for Buildings and an IDOT Audit
The numbers are the amounts budgeted for streets combining two line items, Street Maintenance/Repairs (8632) and Street Construction/Reconstruction (8633). It does not include alleys or permanent street improvements (e.g., Taylor Street widening). Keep in mind, what’s budgeted may not always reflect what’s spent, either. [table id=84 /] Observations: The Motor Fuel Tax Fund is taking…