This doesn’t look good. The taxpayer’s may get saved afterall from overspending in the CIP budget. I found this portion of the article interesting;
In Sioux Falls, growth in sales tax revenue for 2008 is well below projections. The city plans to borrow $124 million in bonds over the next five years to pay for capital projects – more than half of that coming next year.
City Finance Director Eugene Rowenhorst said some of those projects could be put off a year “without doing major damage.” They include a new library, money for the zoo and a junior football complex.But one project that would be more difficult to put off is a $22 million financing needed to upgrade the levee system along portions of the Big Sioux River and Skunk Creek.
I doubt they would cut the levee project. I guess we know where the city’s priorities are, don’t we? Or is this a scare tactic from Gene ‘Montgomery Burns’ Rowenhorst? Of course it is. I think they should have budgeted for a skid steer so they could clean all the BS out of City Hall faster.
And notice that next year’s CIP budget is $62 Million dollars, yet King Dave crys about $5 million cut from it in the tax decrease initiative. Give me a break!