I must apologize to your readers for my letter last week stating that Chicopee would end up with between $14 and $15 million in reserve. That was based on Free Cash being certified in the $4 million dollar range.
Free Cash was actually certified at $6.1 million. That, along with the $6.5 million in the Stabilization Fund and expected receipt of $3.6 million in storm clean up reimbursement totals $16.1 million, or nearly 24 percent of the new tax levy.
And yet, on the average, taxes for residents and businesses increased? What's wrong with this picture?
To help change the current tax, tax and spend, spend mentality, I have asked my city councilor to not approve any spending from Free Cash and instead insist one hundred percent be held to offset the next year's tax levy. Why should your readers do the same? Even if the tax levy had been reduced by 10 percent it would still leave over $9 million between the three areas noted.
We pay our city council and mayor and department managers for their fiscal responsibility. Hopefully we will have some fully qualified candidates running for office in 2013.
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