Muncie Debt History 2011-2018

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Muncie, IN

As we were sifting thru the Muncie Politics files we found an editorial written after McShurley lost the election.   The editorial ended with McShurley saying she is leaving the city in better shape than when she took office.    The writers of the editorial concurred.  This piqued our interest and decided to see if it was an accurate statement.

Mayor McShurley announced in 2011 during the Chats with the Mayor there was enough money to provide raises/or bonuses to every employee.  At the end of her term, she said there would be enough money to fund the MFD if the SAFER grant was not renewed.  These comments infuriated Dennis Tyler’s supporters and they lost no time calling her a liar and various other vulgar adjectives.

Was it a lie?  She did leave the city with $8 million and it was confirmed by the audit Mayor Tyler’s administration commissioned.  Government reports showed a minimal amount of debt.    Of course, we knew the debt was Tuhey Pool.

The debt spiked in 2013 and it appears the city borrowed money and the next year paid off some debt.  This is the only logical explanation minus a clerical error, which is doubtful.  So, listed is the principal debt only (no interest) owed by the City of Muncie and MSD.  If you want more complete detail,  simply click on the link directly below each year. 

Oh yea, 2013 is the year Mayor Tyler appointed Todd Donati as the MRC director.  

Pulled up the Annual Financial Reports for 2011 & 2018 and searched for accounts which had a negative beginning or ending balance.  The search showed 2011 with 10 negative balances and 2018  having 25 negatives.  You will find the full Annual Reports for 2011 and 2018 at the end of this post. 

All the data is from the Indiana Transparency Portal and based on the financial reports submitted to the State of Indiana from the City of Muncie and Muncie Sanitary.  The city, knowing the revenue was declining, the debt growing and the insatiable need to use taxpayer-funded-monies for personal and party gain had no recourse but to increase taxes 43% in 2015.

If you’re reading this and a candidate for a city position, you may consider taking some time to review the documents.  After all, should you win, this will be your baby to diaper.

Muncie Civil City, Delaware County, Indiana
Total Outstanding Debt Obligations

As of 3-16-19

Muncie City: Principal & Interest Debt as of Mar. 16, 2019 $69,899,513
Wastewater: Principal & Interest Debt as of Mar. 16, 2019 $177,301,243
Muncie Civil City, Delaware County, Indiana

Debt Statement – 2011-2018

Muncie City: Ending Principal Balance as of Dec. 31, 2011 $2,682,274.00
Wastewater: Ending Principal Balance as of Dec. 31, 2011 $22,530,000.00
Muncie City: Ending Principal Balance as of Dec. 31, 2012 $2,760,000.00
Wastewater: Ending Principal Balance as of Dec. 31, 2012 $22,530,000.00
Muncie City: Ending Principal Balance as of Dec. 31, 2013 $53,596,000.00
Wastewater: Ending Principal Balance as of Dec. 31, 2013 $66,297,638.00
Muncie City: Ending Principal Balance as of Dec. 31, 2014 $39,897,615.09
Wastewater: Ending Principal Balance as of Dec. 31, 2014 $71,096,393.00
Muncie City: Ending Principal Balance as of Dec. 31, 2015 $38,236,432.09
Wastewater: Ending Principal Balance as of Dec. 31, 2015 $77,435,645.00
Muncie City: Ending Principal Balance as of Dec. 31, 2016 $ 38,562,681.56 
Wastewater: Ending Principal Balance as of Dec. 31, 2016 $137,838,344.85
Muncie City: Ending Principal Balance as of Dec. 31, 2017 $ 37,706,163.00
Wastewater: Ending Principal Balance as of Dec. 31, 2017 $139,133,585.36
Muncie City: Ending Principal Balance as of Dec. 31, 2018 $ 35,997,466.75
Wastewater: Ending Principal Balance as of Dec. 31, 2018 $137,251,590.57
Annual Financial Reports
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2 thoughts on “Muncie Debt History 2011-2018

    Steve Smith said:
    March 18, 2019 at 12:09 pm

    Looks like the bill for all of the “free” lunches finally came due. I am one who expects to pay for public services thru taxation. Honest public officials would be a big improvement.

    Like

      munciepolitics responded:
      March 18, 2019 at 7:35 pm

      Thank you for your comment. Much appreciated. The bill always comes due, the problem is how to pay for that bill. 🙂

      Like

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