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[quote=CA renter][quote=no_such_reality]It’s not revenue drops.
San Bernardino’s total revenue is down 11.2% from peak.
That’s all. The property tax drop, sales tax drop, VLF transfer etc, UUT, etc are down a total of about $11 million.
They have not lost half of their property tax base.[/quote]
Yes, it’s revenue drops.
Charts:
http://www.ci.san-bernardino.ca.us/civica/filebank/blobdload.asp?BlobID=10033
Think they’d need to file for BK if their revenues hadn’t dropped so precipitously?[/quote]
Can’t you read your own links? Total revenues have decreased 11.2%. Chart 45.
Total budget peak $133M, total budget today $118. http://www.ci.san-bernardino.ca.us/civica/filebank/blobdload.asp?BlobID=13895
Yes, they would BK, they’ve been overspending for years BEFORE the drops.
Read page 3. Then read page 13, then page 14. The charts should clear it up for you. http://www.ci.san-bernardino.ca.us/civica/filebank/blobdload.asp?BlobID=13760
