LATEST BOONDOGGLE!

OUT OF CONTROL CHARLOTTE COUNTY GOVERNMENT WANTS TO SQUANDER MORE OF OUR HARD EARNED MONEY WE ARE FORCED TO PAY TO THEM IN TAXES. YOU WON’T BELIEVE THE LATEST BOONDOGGLE THEY’VE COME UP WITH! http://www.floridabids.net/bid-opportunities/2015/12/25/6752728-Feasibility-Study–Visitor-Center.html

Paying a high CEO salary Editor: Congratulations to the residents of Charlotte County. They have contributed more than enough money to pay Brian Gallagher, the national United Way’s CEO, his annual salary of $535,552. Dave Akerstrom Punta Gorda https://www.unitedway.org/ceocompensation

WATER AND SEWER RATE INCREASES!

…approved water and sewer rate increases effective October 1, 2014. As shown in Exhibit 2.13 the rate increases are scheduled over three years and are projected by CCU to be sufficient to fund the current six-year CIP. Full 2015 KPMG audit of CCU http://www.charlottefl.com/…/KPMG-Final-Report-CCU-Audit.pdf

CCU – OUTSTANDING DEBT OBLIGATIONS OF $155 MILLION

CCU has outstanding debt obligations of $155 million, including $149 million in revenue bonds and $12.2 million in loans and other debt as of September 30, 2014 Full 2015 KPMG audit of CCU http://www.charlottefl.com/…/KPMG-Final-Report-CCU-Audit.pdf

APPROXIMATELY $150,000,000 IN CAPITAL IMPROVEMENTS OVER FIVE YEARS

CCU’s Capital Improvement Program (CIP) identifies approximately $150 million in capital improvements over five years between FY2015 and FY2019. Exhibit 2.12 presents the 5 year CIP showing $90 million budgeted for FY2015. The CIP also includes projects for rehabilitation and replacement (R&R) of aging and inferior infrastructure that has been attributed to facilities acquired from private utilities. Approximately $46...