H/T: A.D.
Here you will find the ongoing debt calculations of ECP. The final tally includes the infusion (page 21) of $1.4 million of monies that was "borrowed" in 2007 from other city funds as a "security deposit" to SME. On page 37, the security deposit was supposedly released, but ECP has yet to pay back the city for the initial loan.
Posted debt as of May 2010 SME billing: ($2,018,250)
Actual debt, which includes the initial $1.4 million loan from various city funds that is still outstanding: ($3,418,250)
2 comments:
'Why is there no urgency to solve the ECP crisis? Since Jan 1 through June 30, 2010, the city has an ECP "imbalance" of $540,251.58 for the first six months.
When you divide this amount by 177 days, you see our city loosing $3052.00 a day.
If the train is moving, according to our Mayor during the last City Commission meeting, June 6, how fast is it? At a snail's pace?
After all, the ECP Board skipped the July meeting, and will not be meeting until August 2. Is this not an indication of the train moving at a snail's pace? This money is coming from somewhere. Please read the Doyon Budget for
2011.
In the face of SME "imbalances", where is the reality in the Doyon projected budget? It forecasts a 13.9% increase in ECP expenses. With frequent SME electric rate increases in addition to the daily $3052.00 ECP "imbalances" this seems to me a gross underestimation for ECP projected expenses. Aart D.'
Urgency? This is taxpayer monies going down the drain so no real urgency here - Right Mr. Mayor?
Plan? Who needs a plan-we are too smart for any stinking plan - right Mr. Mayor?
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