Currently 2 Responses
- Mr. Kelly is correct that Sanibel could have dipped into the "Retirement Adjustment Reserve Fund" and various other legally earmarked and separate "reserve" funds after Charlie. Sanibel chose to barrow money instead.
LBK has beach reserves and sewer reserves and utility reserves that can also be used after a hurricane by order of the commission. I suspect we too would barrow money until we are compensated by insurance and FEMA.
The bigger question is how to we prevent the town government from mixing apples and oranges and have any way to know what we are actually talking about.
- The reserve issue aside, a valid reason for a nominal increase in the millage rate would be to apply the increased revenue generated to reducing the amount of the underfunding of the pension plans. While the amount needed for disaster reserve is subject to debate, the $25 million underfunding of the pension plans is a reality. The funds' investment choices and actural assumptions need to be reviewed as well.
20 Cafe L'Europe UnCorked!
5:00 pm - 6:30 pm
22 Dog Days of Summer - Adoption Event
11:00 am - 6:00 pm
27 Fresh Produce event: Live Life, Enjoy Color: A Coastal Affair
10:00 am - 9:00 pm
Dance teams show off skills
Children from Imagine School and Gullett Elementary School showed off their hard work and dancing talents recently, during a special end-of-year dance team recital.
John Saputo: Undercover boss?
Look closely: Who is that stock boy?
Turtles head home after rehab at Mote
Tyler the turtle is back at sea.