Let them eat Cake

You may have read that the City of Racine has no money, you may have read in the J-T that the city of Racine is 4 Million short, Ron Thomas Char of the Cable Commission said  more like 6 million, who knows with court cases going on what the real number may end up being, hell The Mayor himself has said we have no money

So much so that a very basic service  that many need in the city of ruins the city of Racine our bus line may be cut even more, as it is using the BUS to go to work go to the store maybe the Dr is next to impossible.

As much as the    Transit and Parking  Commission might want to fight more cuts, from the J-T this morning  “Alderman Ray DeHahn didn’t mince words last week when he told his fellow  Transit and Parking Commissioners that he couldn’t support any more cuts to city bus service”. If the Mayor wants to cut say by by. After all who rides the Bus?

Who other then the poor, the handicapped, and others who can not drive or perhaps afford a car? How dare they ask our Mayor John Dickert for the basic service a City provides those who need help?   Should not the rich white boaters come first? Should not doing everything as many believe he is doing  to make Downtown Racine  as White as possible?

 

Mayor Dickert at City Hall?

KKK

How else can Our Mayor attract the wealthy Boaters- the Condo buyers he needs to gentrify Racine?

 

The Mayor is right we have no money, we are seeing hikes in fees (Water rates have went up) I expect we will see more sewer bonds sold and games with TIF 18 should it get started to help fund the the plans of Mayor John Dickert and other then to find ways to enrich his pals  (see Racine City Hall or Belle TV)  what might they be?

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Party! After all not like his pals need a BUS.

Now lets Party!

 

 

Just do not ask for anything for the Poor, or the Minorities

 

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One Response to Let them eat Cake

  1. Mr. Racine says:

    Is the Mayor’s Partying putting the BUS Pensions at Risk? It appears that the numbers are going in the wrong direction! When will the Mayor fund the BUS pensions properly?

    From the 2012 Audited Financial Statement:

    RACINE TRANSIT SYSTEM PENSION PLAN FUNDED PERCENTAGE

    The funded percentage of a plan is a measure of how well that plan is funded. This percentage is obtained by dividing the Plan’s assets by its liabilities on the valuation date for the plan year. In general,the higher the percentage, the better funded the plan. The Plan’s funded percentage for the Plan Year and 2 preceding plan years is set forth in the chart below, along with a statement of the value of the Plan’s assets and liabilities for the same period.

    Valuation Date :

    January 1, 2012: Funded Percentage 53.9%
    Value of Assets $18,829,345,753
    Value of Liabilities $34,914,643,948

    January 1, 2011: Funded Percentage 58.9%
    Value of Assets $21,001,737,506
    Value of Liabilities $35,662,837,013

    January 1, 2010: Funded Percentage 63.41%
    Value of Assets $22,765,749,780
    Value of Liabilities $35,903,139,725

    FAIR MARKET VALUE OF ASSETS

    Asset values in the chart above are actuarial values, not market values. Market values tend to show a clearer picture of a plan’s funded status as of a given point in time. However, because market values can fluctuate daily based on factors in the marketplace, such as changes in the stock market, pension law allows plans to use actuarial values for funding purposes. While actuarial values fluctuate less than market values, they are estimates. Below are the fair market values (FMVs) of the Plan’s assets for each respective year:

    FMV of Plan Assets

    2012: $17,649,875,398

    2011:$19,843,959,356

    2010: $19,542,042,104

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