It's a rainy day in Roanoke
Brenda Brown-Grooms
Brown-Grooms is the associate minister at Sweet Union Baptist Church in Roanoke.
Roanoke City Council met April 20, in part, to make an official presentation of the recommended budget for the city. We have been told the city is broke. However, that is not quite true. There is a "rainy day fund" of $19 million of our tax money that has been held in escrow, if you will, for the last 10 years. There is actually about $2 million more in the fund, but it is already spoken for. The rainy day fund's existence helps the city to maintain a good credit rating, just in case we want to build an amphitheater sometime in the future. It is why services that we have been told are unaffordable sometimes pop up -- miraculously paid for.
Read more.
Taxpayers will get soaked
Robert Craig
Craig, of Roanoke, is a retired Marine Corps officer who spent 25 years working in financial management in both the private and public sectors.
On Thursday, there will be a public hearing on Roanoke's 2009-10 budget. The hearing meets a legal requirement. However, it is extremely unlikely anyone will provide meaningful and convincing input. The budget is a done deal, and congratulations are already flowing like water about how hard everyone worked, etc. What we have is a plan that matches estimated revenues the city will receive against expected expenses that will occur in the coming 12-month period, starting July 1. A lot can change in 12 months. Frankly, I have no idea how good the estimates are for revenues or expenditures. Forecasts are projections of future events based on experience. The reality is that the current economic environment is so chaotic, experience may not be a solid basis for predicting future events. We could be in for some big surprises.
Read more.
Read Wednesday's letters to the editor.