Budget Deficit
The amount by which a government, company, or individual's spending
exceeds its income over a particular period of time.
Also called deficit or deficit spending.
Opposite of budget surplus.
Investorwords.com
Please see my responses below in blue..."
Michael Halford email to George Hartzman
What was the dollar amount of the gap
between Guilford County’s FY 2008/9 spending
and FY 2009/10’s revenues?
$548,894,797 – $547,402,275 = $1,492,522
What is the projected dollar amount of the gap
between Guilford County’s FY 2009/10 spending
and FY 2010/11’s expected revenues?
$596,945,277 - $535,745,660 = $61,199,617
.
Maybe that's why Fox refused to offer a number to the question
"what is the deficit" as opposed to "here are the proposed cuts"
George Hartzman, May 9, 2010
.
If the county spends down to thier reserve limit this year,
where are they going to get the $27,502,224
for increased principle and interests payments in 2011/12?
http://www.co.guilford.nc.us/11budgetpro/30%20-%20Debt.pdf
3rd Page, and the chart on the 5th shows debt payments going over the county guidlines
.
So if the county goes down to the reserve minimums this coming year,
will they have to cut the $34 million of no more reserves to raid
and then another $27 million from the budget for debt
on top of $4 million more for 80 new detention officers in 2011/12?
George Hartzman, April 25, 2010
.
Sunday, April 25, 2010
.
"Once we were able to pry loose the information from the county,
"Once we were able to pry loose the information from the county,
we were told the looming deficit
could range between $20 million and $25 million."
Allen Johnson: I want my county government back
The City of Greensboro has yet to release comparable numbers
after repeated information requests.
7 comments:
Will the local news media report on this story?
Will they inform the public of an impending $65 million budgetary shortfall?
Will the Greensboro News and Record ask for clarification of what the County told them about the deficit?
Will there be apologies for the lack of transparancy from Guilford County's Commissioners?
Will the City of Greensboro release the numbers in response to repeated information requests?
Will Guilford County need to build a parking deck for the Jail?
Does the downtown hotel project need a publicly financed parking deck?
Is Skip still the broker on the hotel project in violation of the County's newly adopted ethics code?
Will the budget situation become markedly worse if North Carolina doesn't recieve the expected $500 million from the federal government for Medicaid costs that appears to not be forthcoming?
If our children's schools experience severe cutbacks due to financial mismanagement and lack of disclosure by our elected officials during the budget process, what should be the consequences?
Should Guilford County and the City of Greensboro stop irresponsibly borrowing money by taxing the future income of the communities children?
Should we put our children's interests above our own desires for instant gratification at thier expense?
Have we betrayed our children's legacy by allowing monied interests to control our local government?
Have we allowed ourselves to be plundered by being sold on ever increasing debt acumulation that directly benefits those who were most responsible for convincing us it was a great idea?
If Guilford County's Commissioners knew the budget gap grew from $1.5 million to more than $61 million in one year, should they have told the electorate?
Is not disclosing and/or withholding material public financial information the same as lying?
It is definitely the same as lying, and they should have to pay for what they have done.
How can they pay if the Greensboro News and Record, Yes Weekly and the Rhino Times doesn't report it?
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