How Big Is Bountiful City’s Slush Fund?

I thought about including this in my last post, since it comes from the same article (Bountiful RDA looks at funding for new gym) but thought this deserved individual attention.

This point from the article needs to be highlighted.  For the last several years, the increased property taxes (about $52/year/180K home) have been collected and will continue to be collected for another 15 years.  Then comes this admission:

[Jensen] said the RDA has “in excess of $1 million” [in] available funds, adding that “even if we repaid the South Davis Recreation Center and (RTC) parking garage, all obligations, we would still be in the black.”

Does this mean that, all this time, they could have paid these burdens off and “still be in the black” or is Jensen only referring to the annual payment of the bond?  Did the city choose to force residents to give up their hard earned money (including those on fixed incomes, young families, and those with large medical expenses) for the benefit of some specific interest groups?

The initial bond for the recreation center alone was worth $18.8 million.  Add to that, the other projects Bountiful City proposed funding from their “reserves”.  Taking Jensen’s statement at face value, just how much has Bountiful overtaxed residents for such an immense slush fund and why does the city appear happy to continue doing so?

How big is this slush fund?!

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One thought on “How Big Is Bountiful City’s Slush Fund?

  1. Pingback: Speculation On Taxpayer’s Backs – Government In Private Sector (Bountiful) « Utah Rattler

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