The Government of Coral Gables is Broke, Bungling and Broken

Basically, this signals three small problems:

  • The city is penniless because it doesn’t have the money to pay a mere $1.2 million overcharge (call it a loan) to FEMA.
  • The city has a bungling financial management.
  • The EDGE computer accounting system is broken.

Equally, the taxpayers will pay–this was a loan from FEMA in lieu of a tax increase.

Coral Gables City Manager Patrick Salerno said the total $1.2 million to be repaid will come out of the city’s reserves over a period of 10 years in annual payments.

via Coral Gables to repay $1.1 million after double billing Uncle Sam – Coral Gables – MiamiHerald.com.

About Stephen E. McGaughey
International consultant in economic development programs and projects

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