Free Financial Facts From Formulated Figures

February 17, 2013
By

Current Annual Report reports that the Town of Oliver’s:

Boundaries encompass 1369 acres that 4825 citizens residing in 2293 households call home

Assessed Land & Improvements Value = $656,365,231.00

Coffers bulge with $45,000,000.00 in accumulated surplus reserves

Treasury touts more than S6,000,000.00 Cash in the Bank + Temporary Investments eking out less than 1.5% 

Combined operating & capital budgets = $11,000,000.00

Fourteen (14) Entities, comprised of Mayor & Council, Municipal Manager, C.F.O, Corporate Officer, Operations & Services Directors and their Consultant & Lawyer consume nearly 20% of the operating budget.

Oliver’s 2012 financial assets (cah on hand) increased by more than a $1,000.000.

Why do Oliver’s Officious Officials cry poverty, restraint and burgeoning budget deliberations while their financial assets (cash on hand) & fiscal reserves bulge at the seams?

Perhaps increased taxation & decreased services justification. 

Economic Development Flourishes For Formulating Figures.

MUNICIPAL MONEY PIT

2 Responses to Free Financial Facts From Formulated Figures

  1. Doug Pederson AKA SpectateSwamp on February 19, 2013 at 11:39 am

    No household has 3 or 4 years in reserves.

    Each voting age citizen should receive $2000 each year until the reserve is down to 6 months of the yearly budget. Here in Osoyoos they are looking at setting aside 500,000 for the possibility that the town will have to start paying the salaries of the police.

    How much of those cookie jar funds remain?
    Good reporting.

  2. […] Signs of the Times or Discerned Futility or  Free Financial Facts From Formulated Figures […]

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