Financial projection is disconcerting
According to village Finance Director Judy Kovacs, Forest Park does not have enough cash to pay for next month’s expenditures already borrowing $298,000 from VIP money earmarked for infrastructure repairs. She is projecting a year end loss of $1.685 million for the major village funds and concludes that we cannot absorb this loss without incurring further debt to pay our bills.
Elected officials were presented with this financial report during the March 10 village council meeting and asked if there were “any questions, comments or concerns.” The only councilman to express concerns was Marty Tellalian. He also requested clarification regarding the borrowed VIP funds. The others were silent. What? No concerns?
As the meeting moved forward with a lengthy discussion about Operation Stop Sign, I began thinking the commissioners must know something we don’t. I decided to call them and find out if they agree that the village will lose this amount and if so, will we take on more debt or try to cut expenditures?
Rory “Roosvelt Road” Hoskins (commissioner of Accounts and Finances) has not returned my calls yet.
Marty “I’ll second that” Tellalian (commissioner of Public Property) told me a new report indicated the projected loss was now only $1 million.
Mike “Community Calendar” Curry (commissioner of Public Health and Safety) may have been too busy counting vacant parking spaces to return my calls. Hey, why don’t we count the vacant storefronts on Madison Street? Maybe we don’t need more parking after all.
Sorry, but I was not going to call Mark “Man of Action” Hosty (commissioner of Streets and Public Improvements) after that dog and pony show for Operation Stop Sign.
Since Tellalian has conflicting information and the others are unwilling to discuss Kovac’s memo with me, I will try to discuss this with our Village Administer Mike “Fees” Sturino.