What the Town (and Yes On F) leave out of the news of Liberty’s 2016 Financial Report

What the Town (and Yes On F campaign) leaves out of the news of Liberty’s 2016 Financial Report:

  1. Liberty made $3.2 million in capital improvements, despite the Town’s efforts to block system improvements. Schedule A-1, pdf page 19 shows $3.678 million in capital improvements — approximately $400,000 was contributed by outside sources (developers). Liberty is on pace to invest $6.5 million in 2017.
  2. The report shows not a single ratepayer dollar was spent on condemnation or political activities — pdf page 10 Income statement adjusted to exclude non-regulated activity. (note — schedule C-5 discloses all NON-ratepayer 2016 expenses for Measure V/W at $560,793).

NOW in addition to the more than $4.2 million missing from the Town’s numbers for net income, the Town’s press release lists a number of shortfalls in other calculations:

  • Liberty collected $661,724 less from customers for water service in 2016, compared to 2015) pdf page 41 — schedule B-1, line 30. Oops, that’s $661,724 less for Measure F debt.
  • Administrative and general salaries were reduced by $57,371 (line 22) — $57,371 less
  • Liberty cut operating costs significantly. According to pdf page 44 — schedule B-2, line 42, operating expenses have decreased by more than $1.6 million. Within that $831,101 was reduced in administrative and general expenses (line 36).¬†Oops — that’s $1.6 million gone for debt service


Yikes! Where is tax-increase loving Dr. Christopher Thornberg when you need him!