04-20-2016, 12:38 PM
doesanyonecare
I see your new, only two postings so far. You wrote;
"...Try to get the County Finance Department to answer a simple question. "How much interest does the County pay on its debt?" You will get the most convoluted response you have ever heard...."
Well, earlier on this forum was this information;
".....65% of our total bond debt of $375mm. This bond issue, when approved by the Council, was originally slated to take the Countys percentage of the budget for debt service from 7.9% to 13.8%. Accepted guidelines (GFOA) suggest prudent levels of 15%, or less. When the Mayor's finance team was finished the percentage of the budget for future debt service will now be just 8.98%....." BTW, the 8.9% debt service amounts to app. $43mm/annum for both principal and interest.
and here's the Trib's article from a few weeks ago (with the MOST pertinent information noted above) .....you'll need some critical reading skills to wade through the reporters cant and understand her canard.
http://hawaiitribune-herald.com/news/loc...-bond-bill
From my readings I've come to believe that the reporter of this article is incredibly in need of an editor, or else she needs counseling. She has been carrying the torch, or should I say buying the barrels of ink, on a vendetta against the Mayor for over a year now. Her mischaracterizations are purposeful, consistent, and therefore malevolent
SO, notwithstanding your experience with the Finance Dept. the information is readily available, AND, wait for it, the payments on the Countys debts are reasonable and it's really, really, not that big of a deal. Though the histrionics on this forum might suggest otherwise.
BTW;
I'm a small businessman with a 1/2 dozen employees here on this island and I support the increase in GET. Just for the record.
I see your new, only two postings so far. You wrote;
"...Try to get the County Finance Department to answer a simple question. "How much interest does the County pay on its debt?" You will get the most convoluted response you have ever heard...."
Well, earlier on this forum was this information;
".....65% of our total bond debt of $375mm. This bond issue, when approved by the Council, was originally slated to take the Countys percentage of the budget for debt service from 7.9% to 13.8%. Accepted guidelines (GFOA) suggest prudent levels of 15%, or less. When the Mayor's finance team was finished the percentage of the budget for future debt service will now be just 8.98%....." BTW, the 8.9% debt service amounts to app. $43mm/annum for both principal and interest.
and here's the Trib's article from a few weeks ago (with the MOST pertinent information noted above) .....you'll need some critical reading skills to wade through the reporters cant and understand her canard.
http://hawaiitribune-herald.com/news/loc...-bond-bill
From my readings I've come to believe that the reporter of this article is incredibly in need of an editor, or else she needs counseling. She has been carrying the torch, or should I say buying the barrels of ink, on a vendetta against the Mayor for over a year now. Her mischaracterizations are purposeful, consistent, and therefore malevolent
SO, notwithstanding your experience with the Finance Dept. the information is readily available, AND, wait for it, the payments on the Countys debts are reasonable and it's really, really, not that big of a deal. Though the histrionics on this forum might suggest otherwise.
BTW;
I'm a small businessman with a 1/2 dozen employees here on this island and I support the increase in GET. Just for the record.