Comment Archives
Re: “State Comptroller Wilson: Can Do City Budget Himself and Set Tax Rate, if Necessary”
Diogenes 323
There are no rules listed in the constitution. the constitution says the budget must be balanced. The general assembly set up rules, however, those rules are vague and could be in conflict with the home rule provision of the state constitution which gives home rule municipalities the power to tax within their boundaries.
The basic rules of the state legislature is that the yearly operating budget must be in balance, however can be out of balance at the end of the fiscal year because of tying up loose ends. The shifting of funds from the city's reserve to cover deficits is a legal accounting maneuver that is used by state governments and the federal governments as well. The only restriction is that the city must maintain a minimum amount in its reserves. This shifting can also be legally done between different departments and the restructuring of short term and long term debt is also legal. It is a common practice in both business and governments. The state has no control over outstanding, long term debt in its role as comptroller for the constitution only mandates that a municipalities budget must be balanced every year.
I would have thought that you would have consulted with our master of finance, no pun intended, for he does have a masters in finance and my daughter has a masters in business and is a CPA. Now, who do you think I would tend to believe first on this accounting and budgetary mess? My daughter has already explained how deficits can be shifted and in such a way that it is legal and meets the strict guidelines of accounting rules. Unfunded liabilities are serious, however, they have nothing to do with the state constitutions requirement that budgets must be balanced, for municipal budgets run for one year. In other words a budget is not out of balance unless it shows that there will be more outgoing than incoming for the fiscal year that it covers. A municipal government, home rule, cannot be taken over on an assumption that the budget will, at some point be out of balance in the future. Shit happens, there can be a spike in spending and tax collecting, more fees collected, etc that can make a projected future deficit go down or disappear altogether. Look at the federal deficit, projected. It has declined by almost half a trillion dollar simply because of the increased spending and the improving economy.
Re: “Council Members Clash over Fullilove's Claim of Norris Meeting”
Too bad she didn't stay Janice Gordon, WHBQ newsreader...
Re: “State Comptroller Wilson: Can Do City Budget Himself and Set Tax Rate, if Necessary”
OTP,
Where are you getting your data ? I am not trying to be mean, but here's what I have.
2012 State of TN unfunded liabilities (OPEB) $3.056 billion, with a population of 6.456 million people.
Memphis unfunded liabilities (OPEB) $1.34 billion, with a population of 655,155 people.
State has 10X the number of people in the state.
Sleep well.
Re: “Council Members Clash over Fullilove's Claim of Norris Meeting”
ArlingtonPop
You might be right! The Fords are very devious as a family, always has been. You know what southern racist say, if you white or light you're right, if black get in the back!
This may be a ruse by the councilmen to get the political monkey off of their backs. Let the state do the distasteful and politically suicidal work of cutting and/or raising taxes. That way, they can tell their supporters, it was the state that screwed you, not me!
But, I have know the fulliloves for over 40 years, including Janis. She may have had and may still do have a substance abuse problem, but, she generally tells the truth about something that is important to the public. I believe that since this can of worms was opened up, the CA will not rest until it finds out the truth.
Re: “State Comptroller Wilson: Can Do City Budget Himself and Set Tax Rate, if Necessary”
“If the budget does not comply with the provisions of this chapter, then the state director shall have the power and the authority to direct the governing body of the local government to adjust its estimates or to make additional tax levies sufficient to comply with the provisions of this chapter.”
It looks like the state does have the authority to make them adjust their budget if it is not within the standards set by the Comptroller and the constitution. The budget must "comply" with the state rules. If the city has a budget but it does not pass muster then the state will move in and MAKE it comply. Believe it or not.
Re: “Council Members Clash over Fullilove's Claim of Norris Meeting”
Like I said before. It is illegal to 'cook the books'. So when the state sees improprieties in past budgets they have no problem at all reading the 'cookers' the riot act. But I believe they will do what Mr. Wilson says.
Re: “Coming Out”
@ AP
Three wise choices for well rounded reasoning. I'm afraid you too are of a gathering minority.
Re: “Letters to the Editor”
"Our Irish, German, and Italian ancestors found that pathway. " Wow, didn't know they came up from the South. Always thought they came over by ship. Learn something new every day!!
Re: “State Comptroller Wilson: Can Do City Budget Himself and Set Tax Rate, if Necessary”
Tomguleft
Why don't you look up Tennessee's Legacy Cost? With the losses the pension funds suffered in this recession the long term OPEB is not good. As a matter of fact, the same type of warning that the state sent Memphis has been given to the state.
The only difference is, the state says that, for now, they are in good shape, but, to worry about the future. Tennessee should be in a hell of a good shape, being as though the average pension is no higher than 30,000 per annum.
It may be the same measuring stick, but, I guess it depends on who is doing the measuring and writing the report.
Tom, I wouldn't worry too much, for, this too, shall pass away.
Re: “Council Members Clash over Fullilove's Claim of Norris Meeting”
OTP
Sorry, I cannot resist.
It is true that Memphis passed scrutiny last year, but that was only ordinary scrutiny. This year is different.
Due to the financial history, the state has imposed "strict scrutiny" on the Memphis budget this year, which is what you get with a pattern of repeated discrimination against proper budgetary practices.
As to the traitor and mole, I vote for Mr. Ford. Not only is he the one that got Mr. Wilson to write the letter, he appears to have a very light skin color, which is suspicious as hell. Not as suspicious as Ms Fullilove with her light skin and blonde hair, but that would be way too obvious. Janis is only a decoy. Ford it is.
Re: “Council Members Clash over Fullilove's Claim of Norris Meeting”
@ OTP
They balanced the budget last year partly by stealing 20 million from an account for retiree's health care.
As the Mayor said last year:
"We are running a lot on faith and luck right now, hoping everything will go well," said Wharton. "That's a heck of a way to run the city."
http://www.commercialappeal.com/news/2012/…
Don't you think the incompetence of all of these turkeys should and would draw the attention of the State all on its own?
Re: “Tim Tebow Talks Christianity, Football and Philanthropy”
Tim Tebow is such a wonderful role model. With all he has on his plate trying to practice and make the 53 man New England roster, he still manages to give of his time and energy to help and lead others. God bless Tim Tebow and may he succeed greatly in whatever he does. The world needs more young men like Tim Tebow.
Re: “State Comptroller Wilson: Can Do City Budget Himself and Set Tax Rate, if Necessary”
I live in midtown, and I worry about Memphis. Our legacy costs (pensions and OPEB) are a big problem. Without a viable future taxbase with our current trends, something will have to give. The bill will come due one day, and that day won't be pretty. The bell cow is East Memphis, not the midtown/downtown area. Watch East Memphis.
Re: “Council Members Clash over Fullilove's Claim of Norris Meeting”
Remember, the Memphis City Budget passed scrutiny from the state last year,yet, before the proposed budget has even been voted on, the state knew exactly what area was troublesome.
Seems like we have a mole for the state somewhere on the city council, a spy and a traitor. We will flush you out and expose you to the rest of the city.
Re: “Council Members Clash over Fullilove's Claim of Norris Meeting”
Regardless of what you think of Fullilove, she is no fool. She could have easily said that she would rather not devolve the names, but she did. I believe she is telling the truth and if not for your bias, you would see that she has no reason to lie about that one.
Re: “Tim Tebow Talks Christianity, Football and Philanthropy”
Jeff, Jesus didn't aim to replace the strict rules of the Pharisees with the types of strict rules you are placing on Tim. We are all struggling to get it right, but I've got to question your singling out ONE fault you see in Tim's behavior as an indication of the sincerity of his ENTIRE life and ministry.
And please see the difference between 'disliking' the Bible and 'disliking' the use of a passage to tear a Christian down.
Re: “Council Members Clash over Fullilove's Claim of Norris Meeting”
After the stupid MLGW smart meter lie, her credibility is way below "zero". Is she maybe related to a certain state rep from Collierville? They appear to be suffering from the same malady.
Be nice to the pink elephants guys.....
Re: “State Comptroller Wilson: Can Do City Budget Himself and Set Tax Rate, if Necessary”
Diogenes323
Memphis has always started out with a balanced budget. You must understand the state looks at every municipal yearly budget and approves it, according to Tennessee's constitution of no unbalanced budgets. the state also sets a minimum amount that must be in reserves. Yes, the city's unfunded liabilities are large, however, a lot of other cities are too. As long as those debts are not due within the year of the annual budget with payments that would throw the budget into deficit, the state has no legal authority to step in.
The state cannot dictate to Memphis how it must run it's budget, but, rather that it be in balance.
Memphis has no fear of Mr. Wilson or the state. If Memphis balances it's budget and the state doesn't like the way it was done, then, I am pretty certain Memphis would love to have that fight in court.
You forget, even though you don't want to give the city credit, it has as many resources or more, in the knowledge of urban budgeting and accounting as the state does. So, Barf, the state's winning hand is only valid if Memphis fails to balance it's budget. You see, Barf, the two most democratic cities in Tennessee have vowed to go to court if the majority gop tries to go too far. That other city would be Nashville.
Btw, if you don't live within the city of Memphis, what is your problem? Memphians don't stay awake and concern themselves about the financial budgetary process for the municipalities.
Re: “Council Members Clash over Fullilove's Claim of Norris Meeting”
The People demand a breathalyzer test !!!!!
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Re: “So Many Raindrops”
@ Joey, why the backhanded compliment? Many of these community actors (including the director) frequently work at this town's professional theatre company (POTS).
To say that it is an "incredibly impressive production" is enough, don't you think? No need to qualify your comments with, "this is a community production."