retraction from blog posting in late July

I came across some data this weekend, and I need to clarify my financial comments on 7/25. Originally I said: "We have deficit spent each of the last 4-5 years (across all accounts)." Truth is a bit different. Raw data:
2006 ending General Fund balance: $1,870,000
2007 $1,665,000
2008 $1,268,000
2009 $1,010,000
2010 $1,027,000
2011 $ 838,000* June 2011 estimate per Tony Borgderding, Clerk
2012 $ 683,000*
2013 $ 233,000*
2014 $ -230,000*
2015 $ -707,000*

Here's what I should have said: "Between 2006 and 2010, our General Fund balance declined 4 of 5 years, losing $638,000 or 38% of its value in that time. Our Clerk projects Default in the General Fund in approx 3 years. In the one year of positive increase in the amount of $17,000 (2009 to 2010), we experienced an unexpected windfall from the Inheritance Tax, a revenue source which will disappear completely in 2013."

I'm sorry I didn't get it right originally, however it's still very concerning, and I stand by the spirit of by comments of the past month. We must act boldly and act now to close this gap. And Tax increases, as suggested by the Mayor, are premature. We should not advance this idea until we show due dilligence first. Hopefully, with creative ideas and tough choices, we can avoid a tax increase completely.

Cortney