This letter is addressed to those in the city who don’t seem to know what the financial status is of our city. It is fine for Ed Issler and Steve Stefanides and their kind to be critical of MITA because it is pretty obvious they do not know the facts, figures, and impact that MITA has studied intently.
Are they aware that the debt of this city stands at $165 million plus, plus as of Sept. 30, 2008. The amount at the end of 2009 will be known in the financial audit.
In the list of governmental activities there are four bonds listed as revenue bonds: General obligation bonds, sales tax revenue bonds, capital improvement B, and a capital lease totaling $16,696,825.00. In the business activities list there are six revenue bonds: One in 2004 of $96,286,002.00; two (2) in 2007 for $19, 911,281.00; one for $7,477,241.00; two (2) in 2008 for $10,243,017.00. There were two assessment revenue bonds in 2008 for $3,054,264.00; and a state revolving loan for $11,740,706.00.
The total of business activities comes to $148,712,511. The grand total is $165,409,336. More borrowing of $11 million and $6 million was done just last month.
There will have to be a huge bond issue in January of 2010 to finance the utility system improvements and a long list of other requirements which were covered in the August MITA Newsletter. The amount at that time was figured to be $46,999,000; however, the Ad Hoc Utilities Committee will recommend some reductions.
In August Steve Stefanides said, “No one could have predicted this. I think we need to be prudent and question whether we need to put things on hold and give people a break during these hard times.”
Monte Lazarus has referred to the spending cap as a “death spiral.” No, instead, it might be a “death spiral” for our city if the fiscal debt is not resolved. The spending cap is relevant in good times and in bad times. When the spending cap has its 3 percent and a low C.O.L.A., it means cutting spending is in order. Federal C.O.L.A. represents the fiscal state of the country. Next year the C.O.L.A. will be zero. Setting a level to 2008 spending cap ignores the facts, figures, and impact.
Spending must stop until the fiscal debt improves. We all love fun, games, beautiful new projects, and everything for our children and teens. MITA studies the financial status of the city and asks our critics to learn the facts and figures also. In 1965-’66-’67 we had high hopes for Marco Island.
The spending cap brought us cityhood and made us unique in the State of Florida. Leave the spending cap alone. Without that spending cap the city would be worse off than we are. Since the day we became a city, the past city manager and some councilors kept trying to change the wording. One time a referendum exempted emergencies, gift, grants, enterprise program and debt service payments relating to utility or other enterprise funds intended to be self-supporting for governmental purposes. Another time City Council agreed to changing the original wording of “operating expenditures” to “budget to budget.” Another change was to forward any projects not completed to the next year and stay under the cap. It is time to stop changing the spending cap.
Compliments should go to the Charter Review Committee for returning the language to the original Charter. Everyone on Marco Island who owns property should join MITA whose motto is preserve, protect, defend, research, and inform. Write for an application to Box 1263, Marco Island, Fla., 34146 – $20 will keep you informed every month how the city is doing.
Fay Biles, Ph.D.
President, Marco Island Taxpayers Association (MITA)
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Comments » 11
Leroy writes:
Shamless Fay, trying to recruit new members through the Eagle so you can hit the 100 member mark? MITA has no clout on this Island, never did and never will.
lauralbi1 writes:
Faye: Yet another example of telling the landslide majority that we are "stupid" and "ignorant". Yes, I guess the MITA's and JW's are the only ones that know what is going on and what is right. I keep saying this and I cannot say it enough. Please keep writing these gems of LTE's. They make for great campaign fodder when your candidates are trying to get more votes than from your 100 supporters. I'm sure that the voters will be excited to listen to someone that calls them ignorant.
You just do not understand that this Island is not being run by you or for you, Faye. It is being run for all of us in the manner in which we desire it to be run.
If the majority votes to change the language in the Charter, so be it. If not, that will be the judgement for the majority of voters. That is how it works.
And this time if you publicly endorse candidates or election issues, MITA and you WILL be reported to Tallahassee. You got a pass card in the last election for violating State Laws as they apply to MITA and Politics and Endorsements (your signed LTE as President of MITA supporting a slate of candidates that appeared in the Sun Times to be specific).
Ed Issler
MarcoJimbo writes:
$165 million over a year ago! Wait till they spend $25 million on Veteran's Park, $10 million on the Smokehouse Bay bridge, and who knows how much on the Town Center District makeover. These will easily push the total over $200 million. At a recent Utilities Committee meeting there was talk of how to manipulate the city's declining water consumption rate to make the bond issue more sellable to a nervous investment market. Don't be surprised when the lending community tells the City "request denied-you're over extended".
dc5799 writes:
Dr Biles,
You better start to shake and shiver because know it all UGLY Ed will report you if you endorse anyone.
Putting my check in the mail today
lauralbi1 writes:
You know, DC5799 really put it into perspective for me. Actually, based on the last election and the mood of the majority, I actually encourage MITA and yourself to endorse candidates. It worked for us before, why not again.
Ed Issler
u2cane writes:
What do we have to worry about, Obama is gonna bail us all out? Why teach future generations the value of working hard when you can bail them out and they will hardly have to work?
lauralbi1 writes:
Actually, DC5799 has really put this into perspective for me. As a result, based on the outcome and numbers from the last election, and the mood of the majority, I would encourage MITA and yourself (Faye) to endorse the candidates of your choice. It will actually help those not normally in tune with Island Politics and issues to decide who they do not want to vote for.
Thanks DC5799.
By the way, I'm certain if I look at past blogs, which I do not have time to do, that I would find you front and center on Sunshine Law issues, not far removed from what Dr. Biles did. Do not minimize the importance of State Laws and their application to MITA and the like.
Ed Issler
Fossil writes:
Mr. Issler, no one cares what you think.
dc5799 writes:
No where in Dr. Biles article did I read the word's stupid and ignorant. She is too classy to write those word's.
On the other hand you Ed you have no such problem. All you know is the LANDSLIDE MAJORITY. One more thing please address Dr. Biles as Dr. Biles a title which she has worked and studied hard for.
You could never be on a first name basis with Dr. Biles
MarcoFacts writes:
She is also commonly known as Dr. Viles, at least that is what they call her in the county.
Simply put, MITA is a non-entity with less than 100 members whose goal is to spread misinformation and sensationalize everything the city does!
Fossil writes:
Several of the above comments attest to the effectiveness of MITA and Dr. Biles. Why else would Issler and Ray even bother? Go girl.
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