If you want the answers, come to the Finance Meeting tomorrow October 1st, 7:00 p.m. at the east annex. Chairman Nancy Rita has all the answers. Have you had enough smoke and mirrors with Jodi? Alderman Rita must start getting serious about the city finances, and stop ignoring the real problems. Can someone tell her she is an Alderman! Stop lying to the residents.Find Blue Islans's Grant Money and where the money actually went!
#44 Sep 30, 2013
#45 Oct 24, 2013
Hey Kid, this is the way it is suppose to be done. Forget what your corrupt Father taught you. Forget what your being told, to Rob Peter to Pay Paul.
Flossmoor gets glowing financial audit
BY SARAH ZYLSTRA Correspondent October 23, 2013
Flossmoors finances are in fine shape, according to an audit report for the fiscal year that ended April 30.
The village has done a very, very good job at being financially frugal, auditor Fred Lantz told the village board.Some of these financial policies that the village and the board of trustees have adopted historically ... really serve as the foundation for very, very good financial management overall.
Flossmoor has a line-item audit done each year, village finance director Scott Bordui said.
Lantz said Flossmoors financial status has resulted in a bond rating of AA+ and a low interest rate of 2.54 percent in January on the bonds for its water main project.
The villages general fund, its main operating fund, decreased by about $424,000 during the fiscal year, less than the anticipated drop of $745,000, Bordui said. He said most of that money went for a streetlight replacement project, and the savings came from that work and other projects coming in under budget.
Health insurance premiums and worker compensation expenses were lower than anticipated, and several personnel vacancies also saved money, Bordui said, and higher sales and state income tax revenue helped the general fund balance.
Even new accounting procedures for pensions, which move unfunded pension costs to a line item on municipal budgets, wont trip Flossmoor up. The village has been fully funding its pensions even though the state allows for 90 percent funding.
There are not too many folks that report a net pension asset for funding more than what the actuary says you should into a pension plan, Lantz told trustees.That in itself is a significant accomplishment.
#46 Oct 24, 2013
Other communities could benefit from THIS LESSON!
#47 Oct 24, 2013
Other communities, counties, and the state of Illinois could benefit from reading the Flossmoor audit article to learn how to manage thier finances and clean house!
#48 Nov 3, 2013
When will Mayor Vargas and Alderman Rita take action to better manage municipal finances?
#49 Nov 3, 2013
A line item audit will reveal their hidden agendas.
#50 Dec 23, 2013
Former Chicago Comptroller Amer Ahmad pleads guilty
BY CHRIS FUSCO Staff Reporter December 23, 2013
Plea agreement for Amer Ahmad
Former City of Chicago Comptroller Amer Ahmad pleaded guilty Monday to being part of a large bribery and money-laundering scheme when he was Ohios deputy state treasurer crimes for which hell face up to 15 years in prison.
Ahmad, 38, of Chicago, also agreed pay $3.2 million in restitution, according to his plea agreement, which was entered during a 45-minute hearing in U.S. District Court in Cincinnati.
Ahmads crimes all occurred before he joined Mayor Rahm Emanuels administration in April 2011. An investigation by an oustide law firm that City Hall hired to review his conduct here revealed no criminal wrongdoing.
Emanuel aides declined to comment on Ahmads guilty plea.
This could happen here, because Treasurer Carmine Bilollto is not treasuring the treasury.
#51 Dec 23, 2013
The last thing the current and previous administrations want "IS A LINE ITEM AUDIT!"
A line item audit will reveal their collective "THIRTY (30) DIRTY YEARS" of deceptive practices!
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