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Comments by artbarb

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Posted on May 29 at 10:13 a.m. (Suggest removal)

why doesn't Kathleen report that the city borrowed $67 million in May? to pay off the $59 million borrowed May 2012 plus additional $7 million? Each year the city borrows MORE & MORE! Property taxpayers OWE MORE & MORE!

Informed readers: search for recent sales search under "S" for Schenectady:

Schenectady - City, Schenectady County, New York
Bond Anticipation Notes
Type of Issue: OS
Location of Sale: FA Corporate Headquarters
Date of Sale: 5/7/2013
Time: 10:30 AM
Amount: $66,886,355.00
Notice of Sale
Official Statement
Final Official Statement
Sale Results

From: Auditor commends Schenectady on improved finances

Posted on March 6 at 5:32 a.m. (Suggest removal)


From: Debt woes persist for Schenectady

Posted on March 6 at 5:22 a.m. (Suggest removal)

p.s. It's NOT CLEAR (or easy) to see, but at end of 2011, the City's total assets were $122 million and it's total debt/liabilities were $142 million. (of which $90 million was simply debt. see pg. 28 in above link). After the May 2012 BAN, city total Debt > $100 million!

See also pg. 16 showing $8 million annual payment to retirement system compared to pg. 21 total 2012 revenues $79 million. (includes $67 million revenue from property taxes, does not include $20 million state/fed aid.)

Public safety costs $30 million/yr. Employee Benefits cost $25 million/yr. Community Services cost $23 million. Debt service costs $10 million. Running City Hall costs $7.5 million and Transportation costs $10 million.

This is based on 2011 financial data. So there you have it: $100 million in; $110 million out.


From: Debt woes persist for Schenectady

Posted on March 6 at 4:43 a.m. (Suggest removal)

save this link:

read/study it often, there is much info in lay terms .. it uses 2010 City financial data.

Again this May there will be another BAN offering, using 2011 City financial data .. there will be discussion of trends 2010-2011.

According to article above, the May 2013 BAN will be for $66.8 million minus the $20 million conversion to long term debt, or $46.8 million? which is STILL a $5 million increase in City Debt. The May 2013 BAN official statement will analyze the city's debt at approx. pg. 28.

Since city council votes on this, you can TRUST that each member has read EVERY WORD of this document and understands it COMPLETELY!

From: Debt woes persist for Schenectady

Posted on March 6 at 2:55 a.m. (Suggest removal)

Just curious; if city has more revenue than expenses, why does article about the May 2013 BAN renewal state $66,800,000 will be borrowed when last year only $61,102,000 was borrowed? check out last year's BAN info:

From: Schenectady finishes year with small surplus

Posted on November 30 at 5:24 a.m. (Suggest removal)

DSIC is a joke. They do nothing.

From: DSIC must do more for small businesses, not just Proctors

Posted on November 1 at 12:23 a.m. (Suggest removal)

NO ONE! on city council or in the city realizes (or admits) that the city is losing more than 1 million dollars $$$ a month! the city is losing $10 to $20 million a year! No one understands the city's financial statements! what is the result of the State Comptroller's audit? Every month! the city spends $1 million more than it collects in taxes and other income!

The city has to borrow $20 million MORE each year to keep operating! Taxpayers will have to pay for this!

The city's debt is being downgraded! interest rates will go up to 7% percent!
Fools are in control! No one understands. All are helpless! most don't care. The leaders of this city are making the problem worse!

From: Schenectady council budget keeps Bennett

Posted on October 31 at 11:33 p.m. (Suggest removal)

c'mon you poor and middle class, vote for Obama so that you can become more debilitated and poor! more dependent on subsidies and helpless! poverty equals weakness powerlessness ..

Do you like being on welfare? does it offer you a future worth living for? Does welfare offer you escape? a way out?

Vote for MORE welfare!

From: Quackenbush’s ‘enormous pay hike’ still was below minimum wage.

Posted on October 31 at 11:24 p.m. (Suggest removal)

Rittner should collect from the film companies who can better afford to pay him than city residents/taxpayers!

From: Historian Rittner was worth well more than his $25,000 salary

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