Free Cash Issues
In my opinion, Templeton's town administrator and financial team has worked very hard to make corrections to the structural deficit which created a lot of financial hardship for our employees. It is discouraging to discover that not all town departments are working toward the same goal- the financial recovery of Templeton.
The general ledger information above along with this email thread below:
Deb,
Attached is a GL printout of when payments were received. The Treasurer will provide more information on who paid, what for, and when.
You will find that Light and Water paid their invoices up to 4 months late, which is due to a cash flow issue on their side. Many of these payments occurred after 9/30. It will be too bad that their late payment may be a hit on the Town’s free cash.
Matt
Attached is a GL printout of when payments were received. The Treasurer will provide more information on who paid, what for, and when.
You will find that Light and Water paid their invoices up to 4 months late, which is due to a cash flow issue on their side. Many of these payments occurred after 9/30. It will be too bad that their late payment may be a hit on the Town’s free cash.
Matt
In my opinion, the amount of Free Cash will influence the audits for FY 13 and FY 14 which will happen very shortly. These audits are a critical piece in restoring a bond rating for the Town of Templeton.
It may be time to look at the governmental structure of the town as a whole. Some changes to the form of government may be necessary to ensure that ALL town departments are working toward the same goal.
My opinions...supported by FACTS ! ! !
Julie Farrell
And here I thought "we do things right" over at Templeton Light!
ReplyDeleteIt is sad to say, but it is not below the good old boys and J.D. to do what they can to make things hard on the staff that work for the town by with holding payments, just because they can. I sat at a meeting where he said he would not pay the bills because they were not made out "the way he wanted them." That Department takes what they want for raises and equipment, that is a raise every year, and does business with the rest. This is not my grandfather's light Department because in those days the business worked for the people, just as it should now !! Bev.
DeleteSo lets see if i get this right." We pay" our electric bill and they "don't pay" the town the bill they created. I think it's time to dig into more of the financial issues the TMLWP have. Now that they paid 17,000.00 to get their own credit rate and need to borrow the 1/2 million plus to maintain the water tanks. I think they knew they have needed the tank reconditioning done. So how is it with the water rate increases we were just handed they need to borrow the 650,000.00 to do it. Did they just remember they have tanks? Our commissioners are failing to control the department like they should. They are no more working for the ratepayers or the taxpayers and the town will find itself in debt further with this information. I wonder why people don't get it as they charge more and more for less and less.
ReplyDeleteThe facts are the rates should be falling and go up instead because the other providers go up.
The General manager only compares the private companies when it comes to the real rates. Gives the better deals to commercial users and keeps our rates just under what the private market charges. TMLWP only works for TMLWP and could care less about the town that owns them. Ask one question about the wind turbine. How much money from the renewable energy credits did they funnel to their commercial customers. Better yet how much money is left to maintain the turbine when it fails? Will it be like the water tank and borrow more and more to kick the can down the road?
It's a shame the commission only listen and believe the one way thought of the General manager.