Look at the fund balances:
- FY2012 302,252
- FY2014 677,681
- FY2015 2,168,247
- FY2016 2,718,207
- FY2017 3,249.114
- FY 2018 3,410,075 (please note we withdrew 350,000 from this account last year for the DPW Building on Industrial Drive)
In FY 2019, we are proposing to add $500,000 to the taxpayer’s bills ,so we can add another $500,000 to this fund to bring the total to $3,910,075 (click here page 77). Think about it in FY 2012, we had $302,252 in the General Stabilization Fund and now we have ten times that amount ($3,410,075). Why are we burdening the taxpayers with another $500,o00 to add another $500,000 to this fund?? Can you say over-stablization??
Now keep this in mind in FY 2012 we had no money in the OPEB account and now we have $3,423,168, which was a great decision (which I supported) and we should continue to fund. Between these two funds alone we have added over approximately $6,500,000. Do not get me wrong we should continue to fund the OPEB liability, which is an actual liability that will need to be paid out, but why do we continue to put $500,000 into a General Stabilization Fund that has over $3,400,000 dollars?
OPEB and General Stabilization Balances
- FY 2012 302,252
- FY2018 6,282,148 (current value)
- FY 2019 7,333,841 (proposed under current budget)