• Leslie Williams
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  • Faith-Ingle-Smith 3
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Fri, Oct 31, 2014 10:18 AM
Issue of October 22, 2014
Reader Feedback
print email Source: Editorial: Council makes right choice to subsidize budget
Council's Choices
February 07, 2014 | 09:16 AM

Ross --- Thanks for making it clear to the public about subsidizing the County General Budget. I am one of the people with issues with using Foundation Funds up front.

Who said that $68 million was adequate to sustain the General Fund into perpetuity? No official calculation has ever been made. I have always heard $100 million is needed.

Using the two methods that you describe, I find that either could be wrong at the end of the year. As you say, luckily, the 2013 estimate was close.

The big difference in the two methods as I see it can be a loss of up to $200,000 a year in earnings on the Foundation funds.

As for being in compliance it has never been an issue in my seven years on the Council.

A better question for the week would have been. "Do you favor using Foundation Funds over using Riverboat Funds for subsidizing County General Funds.

Again, thanks for your reporting on the issue.

Gordon Pendleton
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Corydon Democrat, 301 N. Capitol Ave., Corydon, IN 47112 1-812-738-2211 email