Mayor to veto annexation of fairgrounds

[Wrinkle]

quote:Originally posted by rwarn17588

Note Wrinkle said "estimated" surplus.

Just because it's estimated, doesn't mean it will actually be there when everything's totaled up.

Even so, $20 million out of a $560 million budget isn't much of a cushion at all. That's about 3 percent. You're within a whisker of running a deficit.

As of April 15th, it stood at a minimum of $14 Million in actual CASH.

Yet she cannot find $800K to maintain a Golf Course?

Even adding the $800K for year-1 arena is $1.6 Million.

Just over 10% of the ON-HAND surplus.

[rwarn17588]

Yeah, and that actual cash will be needed for annual expenses near the end of the fiscal year, such as premiums.

It's also good to have a little extra cash on hand in case of emergencies. This week's flooding is a good example of that.

Boy, you duffers sure have twisted priorities. I'm starting to think you want to spend money more on little-used golf courses than paying salaries of police officers and firefighters.

Priorities, people.

[Conan71]

I'm more concerned about fixing carpet-bombed streets than the city being involved in golf at this point.  I do play golf at public courses.

[Wrinkle]

...or, big expensive buildings

Note: Fiscal Year ends in 7 weeks.

[RLitterell]

quote:Originally posted by Wrinkle

quote:Originally posted by rwarn17588

Note Wrinkle said "estimated" surplus.

Just because it's estimated, doesn't mean it will actually be there when everything's totaled up.

Even so, $20 million out of a $560 million budget isn't much of a cushion at all. That's about 3 percent. You're within a whisker of running a deficit.

As of April 15th, it stood at a minimum of $14 Million in actual CASH.

Yet she cannot find $800K to maintain a Golf Course?

Even adding the $800K for year-1 arena is $1.6 Million.

Just over 10% of the ON-HAND surplus.

One fair sized tornado in the city and the 14 million would be gone. You couldn't replace one single city owned building for that kind of money. Not to mention the many other infrastructure items that would have to be repaired or rebuilt.

[Wrinkle]

quote:Originally posted by RLitterell

quote:Originally posted by Wrinkle

quote:Originally posted by rwarn17588

Note Wrinkle said "estimated" surplus.

Just because it's estimated, doesn't mean it will actually be there when everything's totaled up.

Even so, $20 million out of a $560 million budget isn't much of a cushion at all. That's about 3 percent. You're within a whisker of running a deficit.

As of April 15th, it stood at a minimum of $14 Million in actual CASH.

Yet she cannot find $800K to maintain a Golf Course?

Even adding the $800K for year-1 arena is $1.6 Million.

Just over 10% of the ON-HAND surplus.

One fair sized tornado in the city and the 14 million would be gone. You couldn't replace one single city owned building for that kind of money. Not to mention the many other infrastructure items that would have to be repaired or rebuilt.

Apparently 'surplus' doesn't mean a thing to you all. IF there has been NO contingency for emergencies of this sort, then we were short-changed from the start. Surplus means money which was not expected, not anticipated, not budgeted and sits in a pile in the corner of the Mayor's office.

The Golf Course AND arena amount to only 10% of the current surplus, much less of the anticipated $20M. That leaves _90%_ of the current, in-hand, surplus for those things you can't yet define.

[Wrinkle]

Let's go further...


Add the _anticipated_ revenue LOSSES of $1.6M from shutting down the existing arena and it's concession revenue during construction and we get $3.2M

That's roughly 15% of the anticipated surplus.

That still leaves _85%_ (approx $16.8M) of SURPLUS for bonuses in the Mayors' office.

Oh, and NONE of those costs would need to be accounted for in next years' budget.

7-weeks remaining in current fiscal year. Tick, tick, tick....

[RLitterell]

quote:Originally posted by Wrinkle

quote:Originally posted by RLitterell

quote:Originally posted by Wrinkle

quote:Originally posted by rwarn17588

Note Wrinkle said "estimated" surplus.

Just because it's estimated, doesn't mean it will actually be there when everything's totaled up.

Even so, $20 million out of a $560 million budget isn't much of a cushion at all. That's about 3 percent. You're within a whisker of running a deficit.

As of April 15th, it stood at a minimum of $14 Million in actual CASH.

Yet she cannot find $800K to maintain a Golf Course?

Even adding the $800K for year-1 arena is $1.6 Million.

Just over 10% of the ON-HAND surplus.

One fair sized tornado in the city and the 14 million would be gone. You couldn't replace one single city owned building for that kind of money. Not to mention the many other infrastructure items that would have to be repaired or rebuilt.

Apparently 'surplus' doesn't mean a thing to you all. IF there has been NO contingency for emergencies of this sort, then we were short-changed from the start. Surplus means money which was not expected, not anticipated, not budgeted and sits in a pile in the corner of the Mayor's office.

The Golf Course AND arena amount to only 10% of the current surplus, much less of the anticipated $20M. That leaves _90%_ of the current, in-hand, surplus for those things you can't yet define.

You sound like my wife, talk about surplus meaning nothing. It's free money, lets just spend it away. We'll never need it. Apparently 'putting a little money aside' doesn't mean a thing to you all.
So if a natural disaster hit Tulsa, how much would it cost? Any thoughts? You can plan for and earmark funds in the budget for these things and I am sure that the City of Tulsa does just that, It worked well in New Orleans didn't it.

[Wrinkle]

You know FEMA will cover it.


I'm talking only 15% to cover Golf Courses, Year-1 Arena and revenue losses from Convention center during construction.

Take your 85% and put it under the mattress.

[RLitterell]

quote:Originally posted by Wrinkle

You know FEMA will cover it.


I'm talking only 15% to cover Golf Courses, Year-1 Arena and revenue losses from Convention center during construction.

Take your 85% and put it under the mattress.

Why should people who don't play golf pay for those who do? Why not increase the fees to play to cover the cost of maintenance.
Revenue losses from a convention center still under construction or is the city building something that they cannot afford?

[rwarn17588]

Wrinkle wrote:

You know FEMA will cover it.

<end clip>

If you believe that, you haven't been paying much attention to FEMA's activities (or lack thereof) in the last two years.

[Wrinkle]

quote:Originally posted by rwarn17588

Wrinkle wrote:

You know FEMA will cover it.

<end clip>

If you believe that, you haven't been paying much attention to FEMA's activities (or lack thereof) in the last two years.

FEMA covered _governmental_ losses during the ice storm, leaving only individual homeowners with actual losses. Even in Counties where it wasn't needed.

Besides, it was kind of tongue in cheek. But, don't think State/Fed money won't be involved should such a disaster strike. Watch Greenburg.

Say what you want, but $300 BILLION to New Orleans isn't pocket change either.

Lack of fiscal disaster planning is in vogue now. Every politician sees the value of Nigal-Planning since it frees funds for other uses, kind of like a Fire District Tax would.

[RecycleMichael]

Wow, Wrinkle.

Why so negative today?

Try some botox.

[iplaw]

Oh...that was really bad.  Ba-dum-dum-ching...

[Wrinkle]

quote:Originally posted by RLitterell

quote:Originally posted by Wrinkle

You know FEMA will cover it.


I'm talking only 15% to cover Golf Courses, Year-1 Arena and revenue losses from Convention center during construction.

Take your 85% and put it under the mattress.

Why should people who don't play golf pay for those who do? Why not increase the fees to play to cover the cost of maintenance.
Revenue losses from a convention center still under construction or is the city building something that they cannot afford?

I don't play golf. Yet, I demand this asset of the city be maintained. We spent millions building it and $4M LAST YEAR to rehabilitate it.

Player rounds are down, a large part due to the renovations of last year. A golf course is a long term asset, like an arena, which requires proper care and marketing to build share. And, time tends to improve economics considerably since cities grow.

All I'm saying is the issue should not be resolved based upon one years' operating costs.

That's also not to say the conditions by which they are operated should not be evaluated.

But, abandoned....
Only a politically-motivated Mayor would look at the issue this way. Penny-wise, tons foolish.

The money's there. Don't try to say it isn't.

The arena is going to turn a profit in Year 2 (2008-2009), according to the Mayor and SMG. It's the existing convention center being remodelled into a Grand Ballroom which will be shut down next year (begining in October, IIRC) for construction, while the new arena is also still under construction.

So, all $500,000 of rental revenue and $1.1M of consessions will not occur in next fiscal year.