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Episode 10 Residents Role in Protecting the Future
Episode 9 - Solvency in 2008 -2009 - Last Resort Measures
2008 to 2009 Struggle to Remain Solvent
To recover from the dire circumstances faced in 2008 and 2009 required the following extraordinary financial management efforts and luck.
The first priority for use of the remainder of the Tax Anticipation Note that was issued and largely spent by the previous council in the first week of 2008 was to meet payroll. Second priority was to pay critical operating…Continue
Episode 8 - December of 2007 - Brink of the Abyss
On January 7 of 2008 the incoming Council faced a $1,855,216 deficit from prior years.
Episode 7 Part 2 of 2 - Debt Growth and Debt - Tax Anticipation Notes
I apologize in advance for the length of this Episode but there was a lot to cover.
A Tax Anticipation Note (TAN) is issued when Ridley Park, and most municipalities in Delaware County, do not have sufficient reserve funds for payroll…Continue