Tuesday, July 8, 2014

Lake Worth's Dreams really Nightmares?

We're in serious trouble. I would almost wish that this commission would come right out and tell us..."We need the $63.5 million just to stay afloat because city departments are raising their budgets and we like to spend."  The city is going to spend more in year 2015 than it will take in.  Where have they all learned this trick?

Out of a proposed operating budget of $31,006,779 for FY2015, controllable costs are $9,953,178 but they don't seem to be "controlling" them.

According to the report last night, the following changes will take place:
  • Ad-valorem up by $527,571 or 9.1%
  • Federal/State/local taxes up by $$415,982 or 6.4%
The problem here is that the city will be transferring $753,929 less from enterprise funds to the operating budget so it essentially wipes out our gain. The Vice Mayor bragged about cutting the electric rates over the last three years and complained that this achievement was not marketed...no one knew about it-- but Commissioner Amoroso had a wise question when he asked if maybe we should end the goal of parity with FPL at least for this year. 

In this serious financial crisis that Lake Worth is in and has experienced, why doesn't the city manager say, "No additional staff, trim your budgets to the bones...no electric rate reduction this year, etc.." But no, they would much prefer to spend $50,000 of taxpayer money to pass a 30 plus year bond to pay for their inefficiencies. I would have preferred that money being spent on marketing our pool and our golf course or fixing some potholes.

These Lake Worth dreams are more like nightmares.

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