“New” city expense estimates released

Your homework is to digest the financial plan presented on October 1st. You can read and/or download the document here. Tom Latondress lead the presentation, as we reported Thursday night, with the bottom-line; the old Greenwood 2010 budget is just over $15 million, the “new” Greenwood of 2011 increases to $23 million and change, a net difference of about $8 million or a 53% increase. We want to be clear that this is not a proposed budget rather it is an estimate of what it might cost should the recommendations of the various subcommittees be accepted and the cost estimates prove accurate.

What does the income side look like? You can find first look at revenue from taxes that will now flow to the “new” Greenwood instead of the county here. These estimates were included in the September 21st meeting. Currently everything presented is an estimate. In fact even should the Greenwood Council and the White River Township Board along with the citizens approve of the reorganization resolution the actual numbers won’t be known until after those events occur. This doesn’t mean that the estimates  are wrong, but they are estimates. This is not a thought starter this will take a lot of thought an analysis to determine how accurate of an estimate they may be.

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