Even though the city budget is swelling along with the city debt levels, taxpayers voted to increase the debt level by passing all bond proposals yesterday. For most property taxpayers, in 2007 the taxes paid went up despite a drop in value (assessed) of most homes.
Additionally, the city spent your tax dollars to advertise the bond proposals running ads that stretch the truth: saying Sand Lake School has never been remodeled. I went to Sand Lake and it has been remodeled and expanded.
Interestingly, enrollment in the Anchorage School District continues to drop.
If folks really new the facts, they would think twice about voting to increase the city debt level, but the clever PR spin machine known as the Begich Administration pulled another fast one with your tax dollars.
As for the shift in the assembly, that was somewhat deserved. The party that was in charge didn't behave in an ethical manner either.
Anchorage, get ready for higher taxes, bigger budgets, lower property values and lower enrollment in the school district!
Wednesday, April 2, 2008
Tuesday, March 18, 2008
Muni of Anchorage Total Debt...
The city of Anchorage is in debt to the tune of almost $1.7 billion. Of that, over $1.2 billion are general obligation bonds, which means they are supported by the taxpayers. The other roughly $500 million are revenue bonds for ML&P and AWWU which means they are backed by people paying their utility bills.
The Anchorage School District annual budget is soaring from about $400 million to almost $600 million for the 2008-2009 school year.
Meanwhile enrollment in the Anchorage School District is still dropping from a high in 2002 of over 50,000 students to about 48,000 being projected for 2008-2009 school year.
These are facts. Another fact is that the Municipality is spending money on advertisements to get people to vote for more debt (bonds)...
The Anchorage School District annual budget is soaring from about $400 million to almost $600 million for the 2008-2009 school year.
Meanwhile enrollment in the Anchorage School District is still dropping from a high in 2002 of over 50,000 students to about 48,000 being projected for 2008-2009 school year.
These are facts. Another fact is that the Municipality is spending money on advertisements to get people to vote for more debt (bonds)...
Wednesday, February 20, 2008
New Week, Same Result: Anchorage Debt
I am trying to get and answer to this question: What is the total value of the debt issued by the City of Anchorage? I left another message yesterday in the Mayor's office and haven't heard anything yet.
I'll keep you posted.
I'll keep you posted.
Thursday, February 7, 2008
Anchorage's Growing Budget...
A big concern is the amount of money our governments spend. Our governments: city, state and federal. I thought I'd start by looking at the local level to get some answers. I have a call into the Mayor's office asking about hard numbers for the city's debt and about the city's income or tax revenue.
I was told that I need to speak with Richard Whitehead and was put through to his voicemail. I left him a message yesterday.
My main concern is this: the city's budget (including the Anchorage School District) has been growing rapidly while actual enrollment in the school's has been dropping for seven years. Schools are the largest part of the budget. Why is this happeneing?
I'll post more information when (or if!!) I get answers to my inquisition.
I was told that I need to speak with Richard Whitehead and was put through to his voicemail. I left him a message yesterday.
My main concern is this: the city's budget (including the Anchorage School District) has been growing rapidly while actual enrollment in the school's has been dropping for seven years. Schools are the largest part of the budget. Why is this happeneing?
I'll post more information when (or if!!) I get answers to my inquisition.
Monday, January 28, 2008
COP's GasLine...
I agree 100% with COP with respect to their letter to the Governor last week:
http://ansnaturalgaspipeline.com/pdf/responseletter.pdf
The big 3 north slope producers need to be part of the discussion if this pipeline is going to be built.
The recent tax hikes on these 3 firms and potential for further production declines only make the natural gas pipeline more urgent as state spending continues to skyrocket.
COP's plans saves the state $500 million! Why not use that for a refund to state residents instead of giving it to TransCanada? Or put it into the big fund?
Sarah, have you completely lost it? Your policies are only making the state stronger in the short term and only because oil is at $90.
http://ansnaturalgaspipeline.com/pdf/responseletter.pdf
The big 3 north slope producers need to be part of the discussion if this pipeline is going to be built.
The recent tax hikes on these 3 firms and potential for further production declines only make the natural gas pipeline more urgent as state spending continues to skyrocket.
COP's plans saves the state $500 million! Why not use that for a refund to state residents instead of giving it to TransCanada? Or put it into the big fund?
Sarah, have you completely lost it? Your policies are only making the state stronger in the short term and only because oil is at $90.
Friday, January 25, 2008
BP, COP, XOM and Alaska
Those are the stock tickers for BP, ConocoPhillips and ExxonMobil. They are shelving a $1 Billion Heavy oil project for the Prudhoe Bay field due to the recent tax rate change.
These types of projects are high risk and only are rewarding with oil at high levels. When the state hikes taxes twice in 2 years, these projects look much less appealing.
You will hear many people tell you that these three companies are bluffing and that this is a heavy-handed tactic and that they really can afford these types of projects.
The people that tell you this don't understand the economics of an aging oil field. They think that the oil companies pockets are infinitely deep and can fund any type of project and that they even set the world oil prices.
Listen carefully to these people and try not to laugh and feel sorry for them. They don't understand basic economics. You can witness this at ADN.COM which is the Anchorage Daily News website. Most of the posters have no idea.
www.adn.com
These types of projects are high risk and only are rewarding with oil at high levels. When the state hikes taxes twice in 2 years, these projects look much less appealing.
You will hear many people tell you that these three companies are bluffing and that this is a heavy-handed tactic and that they really can afford these types of projects.
The people that tell you this don't understand the economics of an aging oil field. They think that the oil companies pockets are infinitely deep and can fund any type of project and that they even set the world oil prices.
Listen carefully to these people and try not to laugh and feel sorry for them. They don't understand basic economics. You can witness this at ADN.COM which is the Anchorage Daily News website. Most of the posters have no idea.
www.adn.com
Friday, January 18, 2008
Our Hot Gov...
She'll be in the Feb 2008 issue of Vogue magazine. That is just great. She delivered a perplexing state of the state address this week. Why was it perplexing?
1. Because she said that she has created a climate of investment for the oil and gas companies. What?
2. She went after Sen. Ted Stevens and the "earmarks" from D.C. saying Alaska needs to be strong and stay independent. Really? Most of the money spent on Alaska is DOD and last time I checked Alaska is strategically significant (N. Korea and China). There is a reason UPS, FEDEX and many other shippers fly planes through Alaska daily. Over 65% of all planes that land at ANC are non-passenger!
3. She praised the reinstatement of a great welfare program: the longevity bonus.
She is spending her political capital faster than President Bush after 9-11.
1. Because she said that she has created a climate of investment for the oil and gas companies. What?
2. She went after Sen. Ted Stevens and the "earmarks" from D.C. saying Alaska needs to be strong and stay independent. Really? Most of the money spent on Alaska is DOD and last time I checked Alaska is strategically significant (N. Korea and China). There is a reason UPS, FEDEX and many other shippers fly planes through Alaska daily. Over 65% of all planes that land at ANC are non-passenger!
3. She praised the reinstatement of a great welfare program: the longevity bonus.
She is spending her political capital faster than President Bush after 9-11.
Tuesday, January 8, 2008
Greenies gone wild...
Welcome:
Today is the NJ primary. I was wrong. I said that Neither Obama nor Huckabee would win their respective nominations after Iowa. After listening to the talking heads on TV (CNBC, MSN, Etc.) they are all in love with Obama, left and right alike with the exception of Ben Stein. Anyway, less than a year out and it looks like Obama has the best chance to win the Dem. primary and the GOP is up in the air.
Now to the topic: Oil! In 50 years, we may not have a petro-based transportaion economy. But for now, we do. While we continue to encourage alternative energy, we need to extract the petroleum resources we currently have.
We have heard politicians for decades talk about our dependence on foreign oil on one hand, while they limit development at home on the other. There are many outstanding reasons to explore/produce/develope our petroleum resources in the United States:
1. Oil is the largest component in the trade deficit. Import less oil, reduce the trade deficit.
2. Stop sending money to countries that don't like America and our way of life.
3. High paying jobs in the oil patch!
4. Keep more oil profits at home which in turn provides more taxes and royalties. The tax revenue could be used to subsidize alternative energy development
We can accomplish many things just by allowing companies to explore here in the US. It is almost to the point of being rediculous. In Alaska we have a large tract of land that was designated by the Federal Gov't the National Petroleum Reserve Unit A or NRPA and greenie organizations are sueing the feds to stop exploration in these areas. Crazy. Greenies gone wild. They are willing to sacrifice jobs, quality of life, and national oil independence to make sure a caribou herd numbering in the hundreds of thousands won't lose any numbers.
I am not pro-oil, just pro-common sense. Anyway, that is it for today.
Today is the NJ primary. I was wrong. I said that Neither Obama nor Huckabee would win their respective nominations after Iowa. After listening to the talking heads on TV (CNBC, MSN, Etc.) they are all in love with Obama, left and right alike with the exception of Ben Stein. Anyway, less than a year out and it looks like Obama has the best chance to win the Dem. primary and the GOP is up in the air.
Now to the topic: Oil! In 50 years, we may not have a petro-based transportaion economy. But for now, we do. While we continue to encourage alternative energy, we need to extract the petroleum resources we currently have.
We have heard politicians for decades talk about our dependence on foreign oil on one hand, while they limit development at home on the other. There are many outstanding reasons to explore/produce/develope our petroleum resources in the United States:
1. Oil is the largest component in the trade deficit. Import less oil, reduce the trade deficit.
2. Stop sending money to countries that don't like America and our way of life.
3. High paying jobs in the oil patch!
4. Keep more oil profits at home which in turn provides more taxes and royalties. The tax revenue could be used to subsidize alternative energy development
We can accomplish many things just by allowing companies to explore here in the US. It is almost to the point of being rediculous. In Alaska we have a large tract of land that was designated by the Federal Gov't the National Petroleum Reserve Unit A or NRPA and greenie organizations are sueing the feds to stop exploration in these areas. Crazy. Greenies gone wild. They are willing to sacrifice jobs, quality of life, and national oil independence to make sure a caribou herd numbering in the hundreds of thousands won't lose any numbers.
I am not pro-oil, just pro-common sense. Anyway, that is it for today.
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