Comments on: Sedona Council Urged to Balance City Budget

By: JeanJ

JeanJ — Wed, 01 Jul 2015 13:58:50 +0000

In addition to the refi’s of the City’s Series 2005 and Series 2007 Bonds, approximately $10 MILLION in more bond debt was given the green light by the Mayor and Council during their 4/30//2015 Special Meeting (Agenda Item 3.b.) after a presentation by Mark Reader and Erika Miller of Stifel, Nicolaus and Company.

The specific plan for obtaining the New Bond Issuance is a work in progress. Working out the details could take a spell. Will the new bonds be replete with interest only annual payments and a 2031 expiration date? Under our last Mayor the City’s Bond Rating was downgraded from AAA to A.

By: Steve segner

Steve segner — Tue, 30 Jun 2015 02:04:43 +0000

Jean, perhaps this will make you feel better,add 3000 to your per capita number.
sedona has 2000 to 4000 visitors staying and paying each night, that should move Sedona way way down your made up per capita list, but even better the visitors pay sales and bed tax.
Hope that helps we now have lots ove bonding income.
Steve

By: Rockin Roger

Rockin Roger — Tue, 30 Jun 2015 01:56:35 +0000

JeanJ

More bond debt you say???? Are you speaking about the city refinancing the bond debt?? You have been beating the same horse for so long I;m a bit confused.

By: Steve segner

Steve segner — Tue, 30 Jun 2015 01:12:42 +0000

Jean per capita does not work, we have no head tax, just sales tax , income to sedona comes from visitors, we keep going over this.
Please how are we over taxed? You say we are , we have a sales tax. ?
Jean, you just do not like a city that supplies services to residents under 60

By: Paid Up & Sick of Paying

Paid Up & Sick of Paying — Tue, 30 Jun 2015 00:41:05 +0000

Let me put it succinctly Steve, you get a tax on my property, I’m selling it and moving two businesses and several income producing tax bases for the city OUT. If any person at the chamber starts talking about it I’m going to personally see to it that my friends and I pull memberships. You should listen 5 at chamber & 7 at city. End quote Steve. The county takes a mere fraction of tax that this damn city wants. Kept quiet all this time but the buck is going to stop on city council desks now. I’m sick of it. I don’t care if the chamber manages to get funding from the city, it’s the city’s job to manage its own business & if you give the chamber it & salaries get paid from it then it’s benefiting the city with employed people. Getting like Alice in Wonderland around here.

By: JeanJ

JeanJ — Mon, 29 Jun 2015 21:46:12 +0000

More bond debt means higher taxes and fees. Instead of borrowing, it’s time City Hall ended its pursuit of pet projects–likewise $$$$ giveaways to regional vested interests who are worsening Sedona’s livability and diminishing the quality of life for tourists.

By the way, Sedona’s per capita bond debt of $4,649.62 is already the 7th highest of AZ’s 91 cities. The average per capita debt for cities and towns with outstanding bond debt is $1,765.98. Source: AZ Dept of Revenue “FY 2013/14 Report of Bonded Indebtedness.”

Unsettling that Sperling’s BEST PLACES (to live) states “Compared to the rest of the country, Sedona (zip 86336)’s Cost of Living is 29.20% Higher than the U.S. average.” Competitiveness is not up to snuff in Sedona due mainly to over taxation. More bond debt or a city property tax would be reductive.

By: steve segner

steve segner — Mon, 29 Jun 2015 19:27:41 +0000

JeanJ says:
The Mayor states the City is “looking for funding sources for our Capital Improvement Program.” Go figure!
Go borrow… Not a bad word, you borrow to fund capitol projects…. a tax on property would also work,
ss

By: JeanJ

JeanJ — Mon, 29 Jun 2015 14:40:01 +0000

A look at the City’s State Schedule A, “Summary Schedule of Estimated Revenues and Expenditures/Expenses,” for the last four years reveals a very troubling pattern. Budgeted Expenditures exceed Estimated Revenues/Collections very significantly. To be exact:

($12,391,621 in FY 2015-16
($10,594,874) in FY 2014-15
($8,878,060) in FY 2013-14
($11,273,855) in FY 2012-13

During recent Home Rule Elections the City’s “Publicity Pamphlet” has stated the budgets in any given year depend upon available revenues. Expenditure and Revenue estimates are always equal. Not anywhere does the City disclose to the electorate its awful plan to spend down reserves/savings.

That there’s been no maintenance of strong reserves to ensure long-term financial stability or cure the City’s underinvestment in roads and drainage infrastructure is a a very serious matter. According to former Councilmember Mike Ward in the SEDONA TIMES (January 22, 2013), “The current projected total cost of the 2005 City Storm Water Master Plan has risen from $15 million to more than $30 million, a massive project even by Phoenix standards.”

By the way, the “‘Things to Know’ about the City of Sedona’s Proposed FY 2011/12 Budget” document states the City’s wastewater plan “….will increase user fees for wastewater….and allow more money to be put toward streets & other capital improvements that benefit the entire community.” Thus, the reduction in the General Fund WW sales tax allocations from 46% to 30% frees up multi-millions over and above 2009 collections for this fiscal year and for those to come. In addition, the City’s revenues are up by $1,745,132 from July through April of this fiscal year as compared to the same period last fiscal year when they were up by $2,017,861.

The Mayor states the City is “looking for funding sources for our Capital Improvement Program.” Go figure!

P.S. The total budget for community groups, including the Chamber of Commerce, is $2.18 million for FY 2015-16.

By: Gail, Sedona

Gail, Sedona — Tue, 27 Jan 2015 18:45:39 +0000

About time somebody said something about those idiots signs all over the place! Going in a round about how many idiot signs are needed? You’ve got signs in the medians, mile markers in FRONT OF SHOPS like Tequa between two round abouts obscuring Tequa signage. Nobody needs to know mile marker whatever in the town limits! Backs of signs should be used rather than a brand new sign installed. Idiots. Disgusting.UGLY!

By: david

david — Tue, 27 Jan 2015 16:40:16 +0000

There are so many street signs in Sedona, if you laid them down one after another you could walk across West Sedona without touching the pavement.