tag:blogger.com,1999:blog-2498525082522582900.post1215560439949369343..comments2024-03-22T16:02:08.213-05:00Comments on The Wheel: The Devil Wears Green EyeshadesMark Stegerhttp://www.blogger.com/profile/02376182294736839659noreply@blogger.comBlogger3125tag:blogger.com,1999:blog-2498525082522582900.post-60276619421429683932012-02-28T07:26:13.564-06:002012-02-28T07:26:13.564-06:00Mark says - "Is the drop in net assets relate...Mark says - "Is the drop in net assets related to the employee raises? I don't recall anyone saying, let's draw down those cash balances to give employees a raise." <br /><br />Mark, that is exactly what happened when they found out property values did not drop as much as expected, that is when Keffler told the council that he was going to give out raises. Also, if you will remember, he convertered car alloances to salary after the big stink about how Richardson had more in car allowances that just about any other city. He also said Richardson did the car allowances the way it did because most of the city employees were already at the top of their pay grade and that was about the only way to give them more money.<br /><br />But the CAFR does tie almost $11 mil to pay raises.<br /><br />CAFR, Page 17 (page 25 of the pdf) "Total expenses for fiscal year 2011 increased by approximately $11,374,000 (8.96%) when compared to<br />fiscal year 2010. This increase is predominately due to increases in salaries and employee benefits.dc-tmhttps://www.blogger.com/profile/14175240802333780232noreply@blogger.comtag:blogger.com,1999:blog-2498525082522582900.post-9613400790793881242012-02-27T18:58:07.867-06:002012-02-27T18:58:07.867-06:00Thanks for the questions, glbeach, but I don't...Thanks for the questions, glbeach, but I don't have the answers. I don't know if the year-to-year fluctuations in net assets are significant or only random noise. I do know that the topic wasn't really discussed by the council. That worries me.Mark Stegerhttps://www.blogger.com/profile/02376182294736839659noreply@blogger.comtag:blogger.com,1999:blog-2498525082522582900.post-30654226787338299712012-02-27T08:58:46.995-06:002012-02-27T08:58:46.995-06:00Like you, not an accountant and certainly not a mu...Like you, not an accountant and certainly not a municipal or public sector accountant, but if I look at $12,404,680 decrease against a total asset basis of 566,295,000 it gives me a change of 2.19%. I guess depending on your perspective, it may or may not be significant. Was there commentary on when the basis increased by that amount or is this an example of a fear of loss bias and only noteworthy in that it is a decrease? I don't know, I'm only asking.glbeachhttps://www.blogger.com/profile/10177895211614530947noreply@blogger.com