Knowledge will forever govern ignorance; and a people who mean to be their own governors must arm themselves with the power which knowledge gives. James Madison
Please take a look at Muncie’s financials.
These two reports ran in January 2016 and February 2016. The latest report shows a debt increase of $10 million.
Muncie revenue received for the years 2011 to 2015. The revenue sources includes property taxes, federal taxes, state taxes, local taxes, fees, donations and grants.
Detailed Receipts 2011 to 2015
If you would like to look at the revenue streams the reports below give details. As you can see, property taxes have been on a decline since 2011. This should have been the first clue.
When revenue begins to decrease while debt increases it would be wise to consider the cost of debt and what it means. The first cost was public services which could only be fully funded with a tax increase. The second cost is economic development and it will only partially be funded with the recent tax increase.
You do need to consider the cost. If the debt can not be met, and there are no more taxes to increase what then? Fees? Fines? You don’t need to be in the dark when it comes to Local and State government finances any longer. In fact, it is imperative, for our future, to be well informed.
James Madison was a wise man giving wise advice which is still relevant today.