Thursday, November 09, 2006

Financial Figures

In 2007, the Village will pay $42024.00 to the Bureau of Worker’s Compensation, fulfilling (hopefully) a bill that has been outstanding for three years.

The Village’s responsiblity to the BWC in January of 2006 was $77,274.18.  The Village’s responsibility to the BWC in July of 2006 was $77041.64.

In October, the Village reported that it had paid down the loan from Cortland bank that was taken out a few years ago to keep the Village afloat, but has been a burden ever since.

In March of 2007, the Dangling Debt of $36345.33 will be paid off.  There will be $24000.00 going to this debt in 2007. 

For you immigrants from Garrettsville, that’s $66024 in past due payments to be made in 2007 that could be going toward a Police Officer or two.  If you want to know why the Village is in such bad shape right now, this is a big part of it.  The Village had horrible management of its finances in the late 90’s and early 2000’s. 

If you’ve given a thousand dollars to a buddy of yours and you watched him gamble it all away, will you be likely to give him more when he comes back to ask for it?

Think for a moment if all of those old bills could have been paid off on time.  We wouldn’t have been burdened with a huge loan from Corland Bank.  We could have gone without this Dangling Debt that hangs over our heads.  Perhaps we could have even caught the Worker’s Compensation problem before it became so huge.  Any cutbacks during the weak economy would have been nearly insignificant in comparison to what we’ve had to deal with for the last few years.  Business would have a better opportunity to come here because of the stability in government and protection.  With a regular police force, some of the problems in the Projects would not have been as pronounced as they have become.

Many of our problems today could have been prevented with a good accounting process.

Boy, it would be really nice to get my hands on a relatively detailed budget for the last three years.  I wonder how much it will cost me to get it? 

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