David Bixler, Sioux Falls City Council Budget Analyst sent me the below graphic today with this email;

The tables below illustrate the programs and debt service supported by the 2nd penny (sales/use tax) for the last two budget cycles. In addition, other funding is summarized by the programs those sources support.

Click on Graphic to Enlarge

debt-service

 

7 Thoughts on “City spends over $20 million a year in debt service

  1. The Daily Spin on May 28, 2015 at 9:20 am said:

    To put this in proper perspective, city debt interest is 25% of the county’s annual budget. The county provides social services (working poor welfare) and they sustain the city/county jail (1,000 inmates). There are more miles of road and more bridges in the county. The city can’t get the one 12th Street bridge repaired. The city has been playing with monopoly money or (perhaps) the debt should be converted from pesos into dollars.

  2. OldSlewFoot on May 28, 2015 at 10:16 am said:

    That debit service is less than 20% of the revenue taken in on the 2nd penny. Seems like a reasonable amount to me. Here is the 2014 County budget if you want to compare … http://www.minnehahacounty.org/commission/budget_finance/2014AnulBdgt.pdf

  3. anonymous on May 28, 2015 at 3:24 pm said:

    Minnehaha County is already hinting at yet ANOTHER OPT-OUT!! Meanwhile, the City is rolling in revenue from the second penny.

    I think the revenue from the second penny needs to be shared by the City AND the County. All services provided by both also need to be re-thought.

    It would require a lot of re-structuring to do this, but it could be done and it would be much more equitable.

  4. The Daily Spin on May 30, 2015 at 1:54 pm said:

    It will be a surprise and disaster when citizens revert to E-Commerce. No sales tax (it’s barter paid to out of state, not legal tender) when you use Google or Apple pay. PayPal has been around ten years. Without sales tax, city revenue dries up. They’ll be lucky if they collect enough to pay interest on the half billion debt.

  5. The Daily Spin on May 30, 2015 at 2:05 pm said:

    How can they tax you when records are electronic on your phone or in the cloud. You’ll acquire goods and services with a phone scan that can’t be traced. They’ll be a 3rd penny but go ahead and make it a 100th penny if we don’t have to pay it. The county will yet prosper from real estate taxes.

    Is it time for one government that’s combined city and county?

  6. The Daily Spin on May 30, 2015 at 3:57 pm said:

    Will credit card & branch banks disappear? You don’t need them with smart phones. Everything Sanford renamed ‘Google’?

  7. The Daily Spin on May 30, 2015 at 4:04 pm said:

    Is it income or sales subject to tax if you’re paid with Google, Apple, or PayPal credits?

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