Yesterday the Tilghman Administration posted the City’s fiscal data for the 1st quarter of FY2009, which ended on September 30, 2008. Before proceeding any further, please sit down and take some deep breaths. You've been warned.
Total General Fund receipts were about $5.2 Million, or 17% of that fund’s budget for the year – down markedly from the same quarter in the preceding budget year, FY2008, in which total receipts were almost $14.6 Million, or 49% of the General Fund budget for that year. And it was significantly lower than in the same quarter of FY2007 ($10.2 Million, or 38%).
Although the City’s revenue was down in each budget category, the largest drop was in real estate taxes, which were $1.7 Million (12% of the budgeted total) compared to $9.1 Million (70%) in FY2008 and $7.2 Million (68%) in FY2007, which was prior to the double digit tax rate increase that Barrie and Bubba Comegys pulled off last year.
Salisbury no longer receives most of its property tax revenue early in each fiscal year. Although the revenue may be received in greater shares during the remainder of FY2009, it is not certain whether it will accrue in the budgeted amount, and less interest income will accrue on City funds being held pending expenditure later in the fiscal year.
The City’s perilous situation was anticipated by Councilwoman Campbell, whose plea to revisit and reduce the current year’s budget has been disregarded by Barrie Tilghman and her puppets on the City Council – Comegys, Shields and Smith.
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Salisbury: Help is on the way!
ReplyDeleteElect Jim Ireton Mayor in 2009
Does this mean that I'm not getting my developer reimbursement?
ReplyDeleteWas this Post to far over every one's head?????????
ReplyDeleteDo YOU get it?
Salisbarrie = GM of Wicomico County
ReplyDeleteHere's the solution:
ReplyDeleteBuy more fire engines!
Why is there such a drop in real estate revenue? Where did it go?
ReplyDeleteBarrie and Bubba continue to waste money and increase taxes and spending as the City hits the skids.
ReplyDeleteThere's an old saying, you might e able to afford to purchase the Empire State Building but you probably can't afford the taxes.
ReplyDeletePam Oland liked to brag about how the City is getting GREAT low interest rates, but can the City afford it?
At this rate and from other internal information I recently came to learn about her financial errors on the books, the City is going to fold.
So the Mayor walks away screwing the Taxpayer and then they expect Comegys to step in, point the fingers at Barie for all the flaws and NOT do line item budgets.
Taxpayers, you're so screwed if you choose anything or any one connected with Barrie Tilghman. I said it years ago, this is alll going to catch up with her, HELLO!
2:39 --
ReplyDeleteIT'S THE ECONOMY, STUPID.
Don't look now, but development has come to a halt -- have you seen that half finished condo on Fitzwater Street, or the finished one on Riverside Drive that is still almost vacant.
And the rest of us are having a hard time making ends meet -- what choice is there between buying food and paying expenses or contributing more funds for Barrie and Bubba to blow away.
You ain't seen nothing yet, because those two have plans to spend millions of city funds to "revitalize" the North Prong and other stupidity, plus give a multi-million dollar TIF-subsidy to the owner of the old mall. Our property tax rate will continue to rise along with the water and sewer fees.
How do you feel now about that 150% pay raise they gave Barrie.
Joe, you have used the example of wastefull spending of the fire department, yet no-one seems to listen. Tell me something, using that example, is Salsibury able to provide any better fire protection after spending $15,000,000 NOT! Then of course they just financed it. Even at bond rates, thats $631,000 just in interest, which over the life of the loan double or triple the cost. But hey, what do you expect when the chief filed chapter 11 in his life, and the others only look at after themselves. Remember thats just one example.
ReplyDeleteWe will all be so very glad to see Barrie exit this City--she has screwed us all big time. Remember Gary=Barrie. Vote for Gary and that's what you get.
ReplyDeleteWho knows what happened in 1971 that has affected the U.S. dollar ever since?
ReplyDeletejoe,
ReplyDeletesince the mayor doesnt seem to really care how much she spends i dont expect her to modify much. i do expect her to try to raise taxes again. this administration has no clue about not spending more than you have. come on election time.
sjd
RESPONSE TO 2:39 Post
ReplyDeleteWhy is there such a drop in Real Estate Revenues?
I'll tell you why . . just what former deceased City Councilman Webster said, with all of the College aquisitions and subsequent real property tax waivers, and, Socialization of free enterprise buildings, its had a deleterious effect on the City's operating budget . . bottom line . . . a REDUCTION IN INCOME.
Maybe Barrie should consider assessing impact fees on the college students to make up the difference?
I've said the following so much that it's starting to sound like a broken record.
ReplyDeleteWhy doesn't the College have public hearings before they negotiate to purchase private property which, then, turns into public property and is exempted from taxation. They have been getting away with Budgetary murder for so long that it looks as though by now someone would 'catch on' their shananigins.
The college is just KILLING OUR ASSESSABLE TAX BASE.
Anon 5:12 if you are formerly deceased does that mean you're still alive?
ReplyDeleteDemocrats love to spend and spend. Your a lame duck Barrie, But i quess thats all you get for the salary. Hows that feel does it make you proud?
ReplyDeleteHonestly, the economic mess in Salisbury may have little to do with what is going on in the rest of the country, however, The Mare has through her policies and with the help of those who do not even read the budget, the resolutions, or ask any questions,(Their names are Smith, Comegeys and Shields in case you have not watched or listend to the council meetings for the past several years) Which you probably haven't from what I have experienced with the lack of participation.
ReplyDeletePerhaps now, you will finally get it...finally when it hits you hard between the eyes. Debbie Campbell will be vindicated, but it does no good to be right when no one will escape the economic disaster created by the Mare and her bobble heads.
I am not in any way sorry for you Salisbury folks, it is your government, and you have ignored the hard working Debbie Campbell and Terry Cohen, and you have not attended council meetings, your have not done one thing to stop the outlandish spending and developer reimbursements of the Mare and her "yes men"
So we all suffer, and badly, hopefully you will vote for Jim Ireton as Mayor, he has been telling y'all for years how irresponsible this group is, and you have not listened.
Perhaps you will vote, and perhaps you will have some help finally.
It's going to get worse after the holidays, a lot of retail stores will close their doors after Christmas. I would say we will see 10% unemployment in the first quarter.
ReplyDeleteEven if they can survive, their priority is going to be people just aren't going to be spending, they will pay the mortage, food and utilities and tax revenues will continue to sink.
what happened at the meeting that occured earlier this week regarding pammie's dept?
ReplyDeletedoug said:
ReplyDelete"Democrats love to spend and spend"
Really? Is that why, under George Bush and Ronald Reagan we had the greatest increases in the size and cost of federal government in our nation's history? Is that also why Bill Clinton BALANCED THE BUDGET?
Republicans are NOT fiscally responsible. Liberal Democrats are. Because they know that it is not their money, but the taxpayer's money. Conservatives like to project their own weaknesses onto Liberals, when, all along, it is the CONSERVATIVES who spend money like a sailor on R&R.