"An independent audit of the city's finances has found more than $1 million more in the city's reserves than had previously been thought - but not everyone in town is celebrating a windfall."
Astonishing stuff indeed. But Sierra Madre Tattler readers were hipped to all of this crazy action on, um, March 9? 12 days before the Star News got around to mentioning it?
Sierra Madre Voted For The UUT Tax Hike Because We Were Supposedly Going Broke. It Now Turns Out That Might Not Have Been The Case
"At tomorrow night's City Council meeting a rather shocking announcement will be made. Despite years of dire warnings about the parlous state of our fiscal affairs, it turns out that the truth is actually something quite different. Through 2007 Sierra Madre's finances are $1,036,000 to the good. In other words, we had a nice little surplus that year."
Of course, we do need to give the PSN at least a little credit. They are, albeit 12 days late, the first print news source to even mention this story. Neither the Sierra Madre Weekly, or our so-called paper of record, the Mountain-Views "Observer," have yet to touch it.
(Note: The MVO - still calling itself "Observer" btw - does have an article on this topic in the edition distributed today, 3/22. So let's put them in third place.)
The PSN article does go on to allude to the notion that the UUT Tax could have been presented by the City of Sierra Madre to the voters in an unfair and deceptive manner. Then under the stewardship of the lamentable Mayor Enid Joffe, we were told that Sierra Madre was going broke and that the UUT Tax increase had to be passed or we would face dire consequences.
The City couldn't have been in worse hands at that time, and Mayor Joffe's proclamation of fiscal doom were based on accounting practices that would put most private business organizations into receivership.
As it turns out, and despite the baseless nonsense on the matter by then Mayor Joffe and her predecessor, John "Never Met A Consultant He Didn't Love" Buchanan, Sierra Madre could be on track to run as much as a $46,000 budget surplus for Fiscal Year 2008-2009.
The article does go on to quote current Sierra Madre Mayor Kurt Zimmerman on his call for a repeal or at least a moratorium on the UUT tax increase. And again, while this isn't exactly breaking news here, it is nice to see that at least some news organization out there has picked up the story.
Just why did it take so long?