…BUT FOR A GOOD REASON
Former City Manager Frank Oviedo correctly, and wisely, interpreted Wildomar Magazine’s off-repeated mantra that a small community like Wildomar, with little or no development, could no longer afford the luxury of having two city executives.
As a result, his voluntary resignation in December 2012, provided an immediate savings of $125,000 to the city’s budget for fiscal year 2012-13, as well as an additional anticipated savings of $250,000 to the city’s budget for fiscal year 2013-14. (That’s a savings of $375,000! Since the city ended up last year with $1700 in surplus, it’s actually quite significant!!)
According to this morning’s Press-Enterprise, it appears that the County of Riverside is about to agree to a proposal for a loan modification of the monies spent by the County during Wildomar’s first year of operation. The total obligation amounts to $1.7 million still owed to the County of Riverside.
Please click on the following link, to confirm:
It appears that Wildomar has offered an initial repayment of $383,243 by July 13, 2013, with an annual payment of $100,000 per year until repaid entirely, thus permitting Wildomar to repay its debt without busting its budget.
Wildomar can afford to pay the $383,243, but only because of the significant “Oviedo” savings.
In my opinion, this fiscal arrangement appears to be the smart work of our new City Manager, Gary Nordquist, whose background in city finance has earned him well-deserved plaudits for his work in the City of Fontana. Wildomar is fortunate to have retained his talent and services our behalf.
As for the $100,000 per year loan payment, the City of Wildomar could/should again take the advice of Wildomar Magazine, as well as other citizens, and move City Hall onto the city-owned property known as Marna O’Brien Park, thus relieving the City budget of approximately $120,000 per year in lease payments for its current location in the Albertson’s shopping center. (See Wildomar Magazine Archives for Re-Thinking Wildomar, and scroll down to August 13, 2012 article, “Saving Marna O’Brien Park Through…” for specific details, including the math.)
Additional, and immediate, savings of approximately $300,000 per year could further be achieved by withdrawing from the enormously expensive Southwest Communities Finance Authority, which operates the Animal Friends of the Valley’s canine Taj Mahal ($15,000,000 construction bond obligation) and hiring its own animal control officer (to handle less than 5 cats/dogs per day, on average, according to Animal Friend’s statistics.)
The withdrawal only requires a 60 day written notice, repayment of the $57,000 loaned to the City of Wildomar for last year’s “payment shortfall,” and a little spine in the backs of the Wildomar City Council.(See Wildomar Magazine Archives for Re-Thinking Wildomar, and scroll down to July 27, 2012 article, ” Bitten By Their Own Numbers” for specific details, including the math.)
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