Have you ever wondered about Muncie’s finances or how the people on the city’s finance committee figure how to spend it? I know, it’s a mystery, right? Well, not any longer. Now you too can be a pseudo city controller. It’s easy. We’ll show how simple it can be. And it’s free.
The new report format is not as fancy as the older reports. Not as detailed, either. Nevertheless, it tells a story of Muncie from 2011-2017 in a clean, easy to read and understandable format. Muncie Politics has prepared two reports for you to review.
The first is the Muncie Tax Finance dashboard 2011-17. It’s Muncie at-a-glance report.
The next report Muncie Tax and Finance Time Comparison 2012-17 displays the tax rates and basic information in a clear timeline. Yep, the tax levy has increased every year. As well as the city payroll. 2015 wasn’t a good year for Muncie or Delaware County residents.
September 2015 the city raised a 43% income tax. From start to finish it took 14 days to pass that tax. Amazing, huh? The sad part is, no one even noticed prior to the tax increase the city finances were shaky. That’s o.k. because the city building commissioner received a nice raise and his company demolished buildings paid from the increased EDIT in 2016.
See, folks, it’s all good.
Now, if you want to explore the city’s taxes and finances all one has to do is click on the image below. Enter your favorite government agency and then choose the type of report. Bam! You are good to go!
You will be armed with enough information to make a wise decision at the polls come election time. When an elected official, an appointed “public” employee, or a candidate tell you something you’ll be able to discern if it is true or if they are just blowing smoke. A wonderful position to be: an informed citizen. A scary thing to those who lust after monetary gain for their benefit.
Amortization is an accounting term that refers to the process of allocating the cost of an intangible asset over a period of time. It also refers to the repayment of loan principal over time.
Muncie amortization schedule as of 3-5-17. Enjoy.
If you want more, here is the tax levy for 2017 for Delaware County which includes Muncie City.
After Mayor Tyler passed the 43% income tax, the saga continues
The City applied for State funds of $48 million to build a downtown walkway, apartments etc. There is no guarantee the city will get any funds.
The city is going ahead with the project even though it has no funding in place. The city hired an outside consulting firm to find the money and the city will pay $6,000 a month for the service.
However, the contract is sealed, so no one is allowed to know how the $6,000/month of taxpayer’s money will be used.
Can we say transparency?
The mayor is embarking on a $48 million project although he doesn’t know how it will be paid for, if the bank will loan the money, how much revenue it will bring into the city or how much it will cost taxpayers.
This will put the city at $112 million dollars in debt. We couldn’t fund $2.5 million without raising taxes, but we can afford more debt?
Oh, and although the city was supposed to include long-term maintenance costs, it was barely mentioned.
This area is known for building, but not for maintaining. Some examples: streets, swimming pool, park buildings, city hall, jail, skating rink, parking garage. All built but soon no money available to keep in good repair.
Are we destined for a lifetime of debt?