By: Robjamco | Original Article at patch.com
That when someone asks about City reserves….
City Finance Director / Asst City Manager
Aylward: “All the money in the City bank accounts equals Reserves” (regardless of limitations of use )
City Manager
Kapanicas: “ Assets over Liabilities= Reserves”
(A-L=R) …. (handy when you dont depreciate your Assets)
Auditor
(When asked by Councilman White using common accepted terms in Accounting such as liquidity, non-designated funding requirements, availalable to spend, cash, etc)
Levy: “None”
We as a City want to move forward in positive and transparent ways so that the Citizens can understand what is happening at City Hall. I think we can all agree on that. We arent all Auditors, or Finance Directors, or City Managers. It is confusing. It is frustrating. Debits, credits, fund balances, encumbrances, payments schedules after awhile it all sounds like Charlie Brown’s teacher.
However what I heard , as clear as a bell on a calm clear night, is that a City Manager, a City Finance Director, and a City Auditor who have all worked together (2 daily at City Hall and 1 annually preparing Audit) OVER 20 YEARS SINCE 1994 HAVE 3 ENTIRELY DIFFERENT definitions of what Municipal Reserves are and what that amount IS.