Dear Editor: The February 18, 2000 Brady Standard contained financial information about The City of Brady provided by the Mayor, Clarence Friar. A thorough review of the information revealed numerous inaccuracies; these inaccuracies have a dramatic impact on the overall financial health of the city.
Capitol Improvements 1.9 million 1.3 million
Bonds & Bank notes
Paid off 1.8 million 1.0 million
Debt 1.0 million 1.8 million
The Mayor stated “we could pay off the million we owe and be debt free” at 9:00 a.m. the next morning if we had to. The reality is that we have the ability to only pay off 1/2 of the city’s debt if desired. We simply have fewer assets and more debt that we are being told. We do not have the luxury of waiting two to three years to determine if a project is good for the community and to see if we will be able to pay for it, as stated on several occasions. . We must make good solid business decisions up front, based on fact and honest, accurate financial data, not emotion and the dictates of the special interests. The Application to Texas Water Development Board for Financial Assistance dated 1-18-00 provides the best available information in describing the city’s financial condition. This information provides the citizens a more accurate look at the city’s financial condition than the false information the mayor has provided the people. On January 31, 2000, we had a balance of $300,000 in our cash pool account (operating account), as of May 2, 2000, the balance had been further reduced to $160,000. We continue to spend more money than we take in. The citizens should be aware that this account contains citizen’s utility deposits. Assuming that there are 3,000 customers that have a $100 utility deposit each (We know the deposit amount required at this time is double this amount.), we would need a minimum balance of $300,000 should be maintained by our City government. Security deposits should never be used to pay the city’s bills. The Citizens deserve honest, accurate information on the financial condition of their city. The law provides they are given accurate financial information. Isn’t it time the people of Brady demand they be provided honest, accurate information by their elected officials, as the law requires’ Gayla Bowen Brady, Tex.