The Daily Journal piece on the audit results have generated some council commentary on building up our reserves instead of taking on new projects right away.
The city’s annual audit revealed the city’s net position increased $13.1 million, or 7.4 percent, during the fiscal year ending June 30, 2013. The city’s current total budget is $64.6 million. The largest positive budget variance was reported for the transient occupancy tax, or hotel tax, which totaled $18.2 million, up $2 million from the previous year. Property and sales tax revenues were up for a combined $1.4 million — as the economy continued its measured recovery from the 2009 downturn, according to a staff report.
The council sentiment is quoted as "Also in agreement with Deal and Nagel was Councilman Ricardo Ortiz who would like the extra money to be saved for now." and I can't imagine council members Brownrigg or Keighran disagreeing with that. Maybe just a little to commission a local artist to do a new painting of Anson B'game for city chambers? I'll bet a couple of hundred would do the job. In the meantime, keep shopping B'game.
Guys, I gotta tell ya, I cannot stress enough the importance of financial prudence and saving for a rainy day, so hearing Council say these things is music to my ears! Bruce Dickinson is no stranger to learning the lessons of excesses and lack of prudence. One needs to look no further than the recorded music industry. How many record companies went bankrupt over the years? Edison, American Recording, Capricorn, Sugar Hill. Hell, even Columbia went bankrupt at one point...though make no mistake, that happened way, WAY before I started my legendary career there!
I cannot help but wonder whether having Ric as a banker on the Burlingame City Council is changing the thinking at all, though I must chuckle at the article when Terry Nagel throws the ex-city manager under the bus for Burlingame's past spending problems. C'mon, folks is that really necessary?!? I remember when Peter Criss left KISS and kept badmouthing the band while begging me to produce him solo. No way I would touch that, just out of principle alone, and yes, we all know what happened after that. Nobody likes a scapegoater!
Otherwise, I really like what I'm hearing, and hopefully the other Council members also choose to join this bandwagon!
Posted by: Bruce Dickinson | January 23, 2014 at 10:31 PM
Oh Nagel always has to throw somebody under the bus and she probably had some falling out with Nantell, as she has with many along the way. She never takes responsibility for anything and is best at continuing to make people dislike her.
Posted by: Been here forever | January 24, 2014 at 07:01 PM