3/2/2016 11:48:21 AM
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Section 5: OPA Board Subject: OPA Food Truck Msg# 942801
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All good points but you failed to even mention the 8th year of the $1,098,720 slush fund contribution which cost each and every one of us !30.00.
I thought keeping the assessment the same as last year meant the $130 slush fund money was reduced by $22 or so. At any rate, I was referencing operational stuff, not reserve funding... and as far as I am concerned the initial idea of the five year place was to increase the reserve contribution by around $30 a year for five years and then continue collecting that amount indefinitely.... requiring, of course, board approval each and every year. Say what you want, but the board has more or less supported that idea each and every year for eight years. You may not like it; you may have a different opinion; but board approval for collecting the slush fund for eight years is a fact. It is so factual that it was the board's refusal last year to stop collecting the slush fund that prompted your public decision not to run again. Besides, we only have about $4 million or so in reserves and the recent reserve study says we need $14 million in reserves. I know this because Bill Cordwell wrote it in a letter to the Gazette. So, let's see, we need to keep the $130 in place for about 10 more years, sock away the $14 million and then we can start spending again. Or we can raise a quick $10 million to add to the reserves by adding $1185 to the assessment next year. Or, a more likely scenario, OPA will simply ignore the reserve study it just paid big bucks to accomplish, or rationalize why the study does not apply. |
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For reference, the above message is a reply to a message where: Joe: All good points but you failed to even mention the 8th year of the $1,098,720 slush fund contribution which cost each and every one of us $130.00. Marty |
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