{"id":94104,"date":"2019-11-30T23:48:36","date_gmt":"2019-12-01T04:48:36","guid":{"rendered":"http:\/\/www.southsidecentral.com\/wordpress\/?p=94104"},"modified":"2019-11-30T23:48:44","modified_gmt":"2019-12-01T04:48:44","slug":"breakdown-danville-aint-broke","status":"publish","type":"post","link":"https:\/\/www.southsidecentral.com\/wordpress\/2019\/11\/30\/breakdown-danville-aint-broke\/","title":{"rendered":"BreakDown: Danville Ain’t Broke!"},"content":{"rendered":"

Do you think that the City of Danville is broke? Have you heard that Danville City Council is irresponsible with Danville’s money? Have you read a Usual Suspect saying that Danville will be bankrupt in less than five years? Tell them they’re full of horsecrap and to go fark off.<\/p>\n

Let’s take an detailed look at what Danville’s financial statements are at the end of the past fiscal year. We call that a BreakDown…<\/p>\n\n\n\n\n\n\n

Yes. Danville had a study from the National Resource Network that said that the city would be bankrupt in five years if nothing changed in the budget or economy. But the problem with that analysis is that EVERY DAMN THING CHANGES in the budget and the economy every year. The city is required to have a balanced budget every year based on extremely reasonably forecasted revenues. The NRN study didn’t put that into their models for the study because the results wouldn’t have been as scary sounding. I called horsecrap on that at the meeting where the NRN study was presented. i was lobbied hard by some city staff telling that I needed to realize that the study still had value despite a fundamental flaw in the compilation. That lobbying effort failed, because a fundamental flaw like “having to have a balanced budget each year” means reckless spending just won’t happen.

Anyway, some of the Usual Suspects took the horror stories of a five year out bankrupt Danville and squealed in ecstacy.\u00a0 Those people are full of crap.<\/p>\n\n\n

With that being said, let’s get to some real numbers and start this BreakDown. Budgets aren’t perfect. The city has Michael Adkins, who’s one of the best Finance Directors around. He keeps everybody posted on what’s going on and there’s never any financial surprises with him on guard. The city’s fiscal year ended on June 30th this year. In the 2018 fiscal year, the city ran a budget deficit of $3.5 million. Ouch. But there was plenty in the city’s reserve fund to cover that without any problems. So what happened in the 2019 fiscal year? Danville ran a budget SURPLUS of $1.4 million. Yep, a surplus. Not another huge deficit as some would want you to think happens every year.\u00a0<\/p>\n\n\n

So what is Danville’s general fund sitting at the end of the 2019 fiscal year? Let’s take a look…<\/p>\n\n\n\n

\"\"\/<\/figure><\/div>\n\n\n

Over $40 million dollars, but let’s remember that not all of that could ever be spent. Those “assigned for” entries are mostly budgeted expenses that haven’t been paid out when the end date of the fiscal year happened. Let’s take those off the top. The school system gets to keep their unused $1,844,000 to help with next year’s expenses, so that’s off the table. And take a good look at the $3,000,000 that’s “committed to budget stabilization”. That means that is fecal matter hits the enhanced ventilation device, the city’s got $3 million to do whatever is needed to pay for whatever is needed to fix whatever is causing the problem. $3,000,000. Locked in, and you can’t touch that unless sorely needed. After all of that comes out,\u00a0 there’s about $31.5 million left in the pot.\u00a0<\/p>\n

That’s a lot of money. But Danville’s strong financial policies say that the city must always keep at least 20% of general fund operating revenues locked up just in case. That financial policy makes credit & bond rating companies very, very happy. So what does this really mean on the bottom line?<\/p>\n\n\n

\"\"\/<\/figure><\/div>\n\n\n\n

That means that the City of Danville, even after the $3 million budget stabilization set-aside and the $20.4 million policy set-aside has just over $11 million in the bank. ELEVEN MILLION DOLLARS. <\/p>\n\n\n

Numbers don’t lie. The City of Danville isn’t broke nor is it going broke. Not now, and not in the next five years either. I hope this comprehensive look & discussion of the City’s general fund has taught you something…. because we call this a BreakDown.<\/p>\n\n\n

\"\"\/<\/figure><\/div>\n","protected":false},"excerpt":{"rendered":"

Do you think that the City of Danville is broke? Have you heard that Danville City Council is irresponsible with Danville’s money? Have you read a Usual Suspect saying that Danville will be bankrupt in less than five years? Tell them they’re full of horsecrap and to go fark off.<\/p>\n

Let’s take an detailed look […]<\/p>\n","protected":false},"author":1,"featured_media":94106,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[101],"tags":[],"class_list":["post-94104","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-breakdown","odd"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/www.southsidecentral.com\/wordpress\/wp-content\/uploads\/2019\/11\/scbreakdown.jpg?fit=450%2C298&ssl=1","jetpack_shortlink":"https:\/\/wp.me\/pwqFk-otO","jetpack_sharing_enabled":true,"jetpack_likes_enabled":false,"jetpack-related-posts":[{"id":14701,"url":"https:\/\/www.southsidecentral.com\/wordpress\/2015\/12\/08\/breakdown-chasing-natty-greenes\/","url_meta":{"origin":94104,"position":0},"title":"BreakDown: Chasing Natty Greene’s","author":"SouthsideCentral","date":"December 8, 2015","format":false,"excerpt":"Landing a brewpub in Danville isn't easy. Landing a big business brewpub in Danville isn't easy, and it isn't cheap. Let's do a BreakDown and tell you what's going on. One of the biggest secrets that really isn't a secret is that Danville is a finalist city in getting a\u2026","rel":"","context":"In "BreakDown"","block_context":{"text":"BreakDown","link":"https:\/\/www.southsidecentral.com\/wordpress\/category\/featurescentral\/breakdown\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/i.imgur.com\/KuEywg6.jpg?resize=350%2C200","width":350,"height":200},"classes":[]},{"id":28296,"url":"https:\/\/www.southsidecentral.com\/wordpress\/2016\/05\/25\/breakdown-danvilles-general-fund-52516\/","url_meta":{"origin":94104,"position":1},"title":"BreakDown: Danville’s General Fund (5\/25\/16)","author":"SouthsideCentral","date":"May 25, 2016","format":false,"excerpt":"Despite what you hear from some people, the City of Danville isn't broke nor is it in bad financial shape. It's quite the opposite. In this article, we'll take a look at the city's general fund and analyze what it really means. We call this a BreakDown. You can't analyze\u2026","rel":"","context":"In "BreakDown"","block_context":{"text":"BreakDown","link":"https:\/\/www.southsidecentral.com\/wordpress\/category\/featurescentral\/breakdown\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/i.imgur.com\/AxBMbjl.png?resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/i.imgur.com\/AxBMbjl.png?resize=350%2C200 1x, https:\/\/i0.wp.com\/i.imgur.com\/AxBMbjl.png?resize=525%2C300 1.5x"},"classes":[]},{"id":24537,"url":"https:\/\/www.southsidecentral.com\/wordpress\/2016\/05\/04\/breakdown-the-danvilleduke-energy-settlement\/","url_meta":{"origin":94104,"position":2},"title":"BreakDown: The Danville\/Duke Energy Settlement","author":"SouthsideCentral","date":"May 4, 2016","format":false,"excerpt":"We've got our copy of the official Danville\/Duke Energy settlement agreement for the coal ash spill. Let's look at it and then do a comprehensive look at what's in it. Let's do a BreakDown. We covered a lot of the reasoning behind this settlement in the article from two weeks\u2026","rel":"","context":"In "BreakDown"","block_context":{"text":"BreakDown","link":"https:\/\/www.southsidecentral.com\/wordpress\/category\/featurescentral\/breakdown\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/i.imgur.com\/KuEywg6.jpg?resize=350%2C200","width":350,"height":200},"classes":[]},{"id":16093,"url":"https:\/\/www.southsidecentral.com\/wordpress\/2016\/01\/28\/breakdown-the-city-of-danvilles-bank-account\/","url_meta":{"origin":94104,"position":3},"title":"BreakDown: The City of Danville’s “Bank Account”","author":"SouthsideCentral","date":"January 28, 2016","format":false,"excerpt":"Contrary to what a lot of people say and\/or think, the City of Danville is not \"in debt\" or \"broke\". Let's take a comprehensive look at the city's general fund balance in this BreakDown\/NumbersCentral and see exactly what the dollar amounts say. You can't have the NumbersCentral part of this\u2026","rel":"","context":"In "BreakDown"","block_context":{"text":"BreakDown","link":"https:\/\/www.southsidecentral.com\/wordpress\/category\/featurescentral\/breakdown\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/i.imgur.com\/4j0FG0l.png?resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/i.imgur.com\/4j0FG0l.png?resize=350%2C200 1x, https:\/\/i0.wp.com\/i.imgur.com\/4j0FG0l.png?resize=525%2C300 1.5x"},"classes":[]},{"id":9413,"url":"https:\/\/www.southsidecentral.com\/wordpress\/2014\/07\/18\/breakdown-danville-school-board-7172014-meeting\/","url_meta":{"origin":94104,"position":4},"title":"BreakDown: Danville School Board (7\/17\/2014 Meeting)","author":"SouthsideCentral","date":"July 18, 2014","format":false,"excerpt":"We're continuing our BreakDown analysis and comment article series after every Danville City Council & School Board meeting. Let's take a look at what happened during Thursday's School Board meeting. Big Board for a small BreakDown, please. The Langston school campus is in marginal condition because it's old, just like\u2026","rel":"","context":"In "BreakDown"","block_context":{"text":"BreakDown","link":"https:\/\/www.southsidecentral.com\/wordpress\/category\/featurescentral\/breakdown\/"},"img":{"alt_text":"sclogo","src":"https:\/\/i0.wp.com\/www.southsidecentral.com\/wordpress\/wp-content\/uploads\/2014\/05\/sclogo.jpg?resize=350%2C200","width":350,"height":200},"classes":[]},{"id":11338,"url":"https:\/\/www.southsidecentral.com\/wordpress\/2014\/11\/23\/breakdown-danville-united-meeting-11202014\/","url_meta":{"origin":94104,"position":5},"title":"BreakDown: Danville United Meeting (11\/20\/2014)","author":"SouthsideCentral","date":"November 23, 2014","format":false,"excerpt":"I was wrong and I have changed my mind. Let's do a BreakDown on Thursday night's Danville United meeting. 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Let's get to the big point right now.\u2026","rel":"","context":"In "BreakDown"","block_context":{"text":"BreakDown","link":"https:\/\/www.southsidecentral.com\/wordpress\/category\/featurescentral\/breakdown\/"},"img":{"alt_text":"sclogo","src":"https:\/\/i0.wp.com\/www.southsidecentral.com\/wordpress\/wp-content\/uploads\/2014\/05\/sclogo.jpg?resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.southsidecentral.com\/wordpress\/wp-json\/wp\/v2\/posts\/94104","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.southsidecentral.com\/wordpress\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.southsidecentral.com\/wordpress\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.southsidecentral.com\/wordpress\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.southsidecentral.com\/wordpress\/wp-json\/wp\/v2\/comments?post=94104"}],"version-history":[{"count":1,"href":"https:\/\/www.southsidecentral.com\/wordpress\/wp-json\/wp\/v2\/posts\/94104\/revisions"}],"predecessor-version":[{"id":94105,"href":"https:\/\/www.southsidecentral.com\/wordpress\/wp-json\/wp\/v2\/posts\/94104\/revisions\/94105"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.southsidecentral.com\/wordpress\/wp-json\/wp\/v2\/media\/94106"}],"wp:attachment":[{"href":"https:\/\/www.southsidecentral.com\/wordpress\/wp-json\/wp\/v2\/media?parent=94104"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.southsidecentral.com\/wordpress\/wp-json\/wp\/v2\/categories?post=94104"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.southsidecentral.com\/wordpress\/wp-json\/wp\/v2\/tags?post=94104"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}