Monday, September 9, 2013

BTW re: BTC and BDC*

At the council meeting of last Tuesday, September 3rd, the subject of the town lending money to the Brunswick Development Corporation arose.  As we recall, it was a question from a resident.  The meeting, by the way, is still not viewable to us ‘on demand.’

Council Chair- (person, woman, man; take your pick based on your own PC view) Suzan Wilson responded with her trademark good humor, saying something like ‘the town doesn’t have any money to lend, ha ha; I wish we did…that would be nice.’

Apparently Chair Wilson is not particularly familiar with the state of town finances.  You can update yourself by looking at page 1 of this document, which shows as page 5 of the pdf file itself.

You’ll notice that the town is sitting on $18 million in ‘reserve funds,’ $9 million of which is ‘unassigned.’  Presumably, the reserve funds are loaned, for example, to banks or other institutions that pay us interest for the use of said assets.

Rest assured that we’re not advocating the town make funds available to simulate economic development via the latest ‘new thing.’  Even if it involves converting a vacant local property into a jelly bean manufacturing facility.

But we wouldn’t mind in the least if the leader of our local governing body showed a bit more command of the details of bylaws, budgets, and other assorted administrivia of day to day guidance of Cape Brunswick.

Like we’ve said before, life is one big learning experience, and then you die.

* For the uninitiated, this means “By the way regarding Brunswick Town Council and Brunswick Development Corporation.”

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2 comments:

  1. Haven't you learned the law is for other people?

    ReplyDelete
  2. I would like to hear from the person that reacted to this post as "idiotic" with their reasoning for doing so. Or was it just a knee-jerk reaction to someone questioning the status quo?

    ReplyDelete