BelowTheMasonDixon
Veteran
What you from Huntsville or something? Ain't yall getting that redstone arsenal and aerospace money?
Birmingham AL
- Thread starter videogamestashbox.com
- Start date
What you from Huntsville or something? Ain't yall getting that redstone arsenal and aerospace money?
David_TheMan
Banned
I'm from montgomery
BelowTheMasonDixon
Veteran
Ok well I can see why you're salty. ya'll need that money/entertainment place is a dump.
David_TheMan
Banned
Aint much in Bham either, everyone still goes to Atlanta to do shyt.
BelowTheMasonDixon
Veteran
Aint much in Bham either, everyone still goes to Atlanta to do shyt.
True. But yall killed Doe B.
David_TheMan
Banned
RIP Doe B, whoever you were.
Fitch Rates Birmingham, AL's GOs 'AA'; Outlook Stable
29 OCT 2015 5:09 PM EST
CREDIT PROFILE
Birmingham is located in north central Alabama, mainly within Jefferson County. Birmingham has an estimated population of 212,234 in 2014 making it the most populous city in the state.
STRONG FINANCIAL RESERVES AND LIQUIDITY
The city's overall reserve and liquidity position remain very sound. Unaudited financial statements for fiscal 2015 show an unrestricted general fund balance of $91 million or 23.4% of spending (operating expenses plus transfers out). An operating surplus after transfers totaling $13.1 million (3.4% of spending) was achieved, reflecting an improvement in the economy and business related taxes and careful expenditure management. An additional $92 million in reserves was separately held in the Birmingham Fund at the end of fiscal 2015. The Birmingham Fund was originally funded from proceeds of the sale of the city's Industrial Water Board assets several years ago - an amount up to 5% of its rolling five-year average market value can be used for general spending, otherwise the balance held therein is set aside for unanticipated budgetary shortfalls or emergency situations. Liquidity across the primary government is sound with nearly $310 million in unrestricted cash and investments or roughly 6 months of spending.
Press Release
The only problem Birmingham has financially is the pension fund
.....
--------------------------------------------------------
2017 budget to erase most of city's deficits
After years of trying to erase a more than $20 million deficit left over from the recession, Montgomery’s 2017 budget is projected to eliminate most — if not all — of the remaining financial burden.
The 2017 fiscal year began Saturday, and City Finance Director Barry Crabb said he hopes to wipe out the entire deficit by this time next year. By his most conservative estimate, more than 90 percent of the remaining deficit will be written off.
“The majority of those deficits will be gone, including $12.5 million for the big three,” Crabb said. “Less than 10 percent of those deficits will roll into 2018, but it will be my hope to get them done in 2017.”
The big three Crabb referred to are the Montgomery Area Transportation System (MATS) fund, the gas tax fund and the internal service fund, which pays for workman’s compensation and medical claims for city employees.
Combined with deficits from 15 to 20 other projects, the city’s deficits totaled about $20 million as late as 2013.
By this time next year, most of the deficits will be gone, allowing the city to build its reserves unhindered in following years.
“I’m hopeful that after 2017 we can get back to building our reserves up,” Crabb said.
City Finance Director Barry Crabb addresses the City Council about the 2017 budget on Sept. 20, 2016. (Photo: Andrew Yawn / Advertiser)
The deficits for these and other funds were incurred after the city spent its reserves during the recession under former Mayor Bobby Bright.
After the 2016 budget is processed, the city expects the reserves to be up to $22.5 million, a strong total considering where it was four years ago, but well short of the reserve level recommended by rating agencies (20 percent of the general fund, or about $46 million).
“During the recession, the previous mayor spent the reserves down to almost nothing. Even in 2012, they were only at about $5 million,” Crabb said. “From 2012 to now, we’re going to be up to $22.5 million and continue to march towards our near-term goal of 15 percent of the general fund budget.”
http://www.montgomeryadvertiser.com...17-budget-erase-most-citys-deficits/91221250/
29 OCT 2015 5:09 PM EST
CREDIT PROFILE
Birmingham is located in north central Alabama, mainly within Jefferson County. Birmingham has an estimated population of 212,234 in 2014 making it the most populous city in the state.
STRONG FINANCIAL RESERVES AND LIQUIDITY
The city's overall reserve and liquidity position remain very sound. Unaudited financial statements for fiscal 2015 show an unrestricted general fund balance of $91 million or 23.4% of spending (operating expenses plus transfers out). An operating surplus after transfers totaling $13.1 million (3.4% of spending) was achieved, reflecting an improvement in the economy and business related taxes and careful expenditure management. An additional $92 million in reserves was separately held in the Birmingham Fund at the end of fiscal 2015. The Birmingham Fund was originally funded from proceeds of the sale of the city's Industrial Water Board assets several years ago - an amount up to 5% of its rolling five-year average market value can be used for general spending, otherwise the balance held therein is set aside for unanticipated budgetary shortfalls or emergency situations. Liquidity across the primary government is sound with nearly $310 million in unrestricted cash and investments or roughly 6 months of spending.
Press Release
The only problem Birmingham has financially is the pension fund
.....--------------------------------------------------------
Montgomery on the other hand....
2017 budget to erase most of city's deficits
After years of trying to erase a more than $20 million deficit left over from the recession, Montgomery’s 2017 budget is projected to eliminate most — if not all — of the remaining financial burden.
The 2017 fiscal year began Saturday, and City Finance Director Barry Crabb said he hopes to wipe out the entire deficit by this time next year. By his most conservative estimate, more than 90 percent of the remaining deficit will be written off.
“The majority of those deficits will be gone, including $12.5 million for the big three,” Crabb said. “Less than 10 percent of those deficits will roll into 2018, but it will be my hope to get them done in 2017.”
The big three Crabb referred to are the Montgomery Area Transportation System (MATS) fund, the gas tax fund and the internal service fund, which pays for workman’s compensation and medical claims for city employees.
Combined with deficits from 15 to 20 other projects, the city’s deficits totaled about $20 million as late as 2013.
By this time next year, most of the deficits will be gone, allowing the city to build its reserves unhindered in following years.
“I’m hopeful that after 2017 we can get back to building our reserves up,” Crabb said.
City Finance Director Barry Crabb addresses the City Council about the 2017 budget on Sept. 20, 2016. (Photo: Andrew Yawn / Advertiser)
The deficits for these and other funds were incurred after the city spent its reserves during the recession under former Mayor Bobby Bright.
After the 2016 budget is processed, the city expects the reserves to be up to $22.5 million, a strong total considering where it was four years ago, but well short of the reserve level recommended by rating agencies (20 percent of the general fund, or about $46 million).
“During the recession, the previous mayor spent the reserves down to almost nothing. Even in 2012, they were only at about $5 million,” Crabb said. “From 2012 to now, we’re going to be up to $22.5 million and continue to march towards our near-term goal of 15 percent of the general fund budget.”
http://www.montgomeryadvertiser.com...17-budget-erase-most-citys-deficits/91221250/
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BelowTheMasonDixon
Veteran
David_TheMan
Banned
Oh damn, i remember dude from an interview after he got on in Atlanta ...talkn bout how he lost his eye and shyt.
R.I.P. bruh
Field Marshall Bradley
Veteran
Yeah.... the respective HBCU's and their cities need to get money off this going forward
Field Marshall Bradley
Veteran
He's performing on the field after the game... the demographic is going to be ages 16 to 70, and Ludacris is on the "approved" performer's list for an event like this as well as in the past....
Not paying for anyone that's heating up the chart's right now... and not really paying for someone that doesn't have a financial track record with the city and surrounding areas.... it is what it is.....
BelowTheMasonDixon
Veteran
He's performing on the field after the game... the demographic is going to be ages 16 to 70, and Ludacris is on the "approved" performer's list for an event like this as well as in the past....
Not paying for anyone that's heating up the chart's right now... and not really paying for someone that doesn't have a financial track record with the city and surrounding areas.... it is what it is.....
He's got joints that are pretty family friendly. I don't know what people expect. It'd be nice to get T.I. but shyt. I'm sure right now. Tip >>Luda performing pay scale.
He had next
Some cats I went to high school with (Karltin Banks & Londn Blue) produced for him