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C.V. Budget Figures No Longer Valid

Monterey Herald -- Oct. 3, 2009



The residents of Carmel Valley are being asked on Nov. 3 to vote for incorporation based on a projected budget that uses financial information from fiscal years 2002-03, later projected using auditor's ratios to 2006.

As might be suspected, objective review of the budget has shown the assumptions that allow the budget to appear to be cash positive
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are overly optimistic if not totally unrealistic. Even with this faulty economics, the budget after a couple of years shows a deficit. Who will be on the hook for the dubious assumptions and the deficits that we know will be coming? It will be the responsibility of the residents and businesses owners of Carmel Valley.

A few things have happened since the proposed budget was formulated, including an economic crisis. Quail Lodge will close with a loss of almost $700,000 in yearly hotel taxes, John Gardiner's Tennis Ranch has closed, Tehama was allowed to opt out, sales taxes and hotel taxes have decreased substantially, and property values have fallen.

We are being asked to believe that adding an extra level of government will reduce cost. Who is naive enough to believe this? Don't be fooled, don't take the risk, vote no on G.

Wayne Chapman
Carmel



Last Updated: Oct 03, 09

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