Wildoner for Mayor Budget

Jim Wildoner's budget will fund bonuses after January 1,2013 for all the employees,a new/consolidated staff position in the Mayor's office,more operating reserves,more training to improve employee productivity,efficiency, and effectiveness,a possible deferral of all capital expenditures  unless the city can not operate without them. The proposed FY2013 budget is balanced by using most of the cities reserves(savings) which take a real long time to build up but may be a year or so to deplete.The end result of spending all or most of the city's savings will be reduction in overall services and a tax hike in the near future but not in an election year.  In addition,the proposed budget violates the  charter because the format for the budget is not followed. This is form over substance but it is suggested in the city charter under budget format.The city's total funds balance is
 $ 5 million of which only "$2.4 million or so"are undesignated reserves which means taking a prior year surplus of "$1.25million in 2013"will leave about $1.15 million in real reserves. In addition,the only revenue that the city is sure of with the Metroview project is $22,000 for 30 years on the underassessed 17 acres of property while similar properties in Prince Georges have assessments for over $8million which would give the city a whopping $40,000 a year.(The Gazettte stating of $5 million in reserves is the Fund balance total not the cities reserves.I faxed the balance sheet for 3/31/2012 to Ginny of the Gazette and told her the unreserved fund balance was $1,699,579 that is far from a $5 million figure used to deceive the voters in her article.Our fund balance is $5,452,712 .She was advised of this information prior to article generation and was sent the balance sheet data..)I was instrumental in getting the council to  vote on setting aside .05 per $100 of real property taxes to build up the reserves and I can assure the VOTERS ,the city does not have that kind of money in  reserves mentioned by the Gazette.

A Chairperson will be appointed on May 8th to handle Advisory Planning Board/ Economic Development issues and proposals which will enable the council to have more financing and development options other than what our paid financial advisor said was the "last resort option" of a TIF for 30 years at 7% which would equal according to the developers proposal a total principal and interest of  $133 million.

In addition,for those of you that did not attend the candidates night I was in a division of a Fortune 50 corporation with over 300 employees and had Executive authority over Finance,Administration
,Contracts,Subcontracts,Purchasing,Human Resources,Payroll,Facilities Management and Marketing. One of my former superiors was Frank Gaudette who eventually became Chief Financial Officer of MICROSOFT.