Saturday, August 10, 2013

Gloucester, VA - Question To Officials, Where Is The Money? Over 14 Million Vanished?

Based on the recent Gloucester Board of Supervisor's meeting this past Tuesday evening, August 6th, 2013, the Board gave to the public the following information that raises a great deal of very serious questions that every single taxpayer in this county should demand be answered right away.  Why?  Because based on what the Gloucester County, Virginia Board of Supervisor's told us, there is a great deal of money not accounted for.  To the tune of multi millions.  Let's go over their own information that they told all of us and made very public.

Based on county population and real estate taxes;

income per penny of tax rate  (How much one penny of tax dollars are worth)

65 cents
tax rate for real estate,  (Present amount we are taxed)
$26,000,000.00  (What is expected to be collected in one year).

number of times taxes collected per year (Taxes are owed every 6 months).
assume 80 percent collection, (Allowing for a 20% not collected in owed payments).
$10,400,000.00  (What has probably been collected in the month of June).

Page insurance money, (Should be held in account)

$22,400,000.00   (What the local treasury should be showing on hand)

money that should be in account
? Personal property tax June
? other income water etc

money in Gloucester CD Account,  (General Fund of Gloucester, County).

? misc money in bank account
$14,900,000.00  (What should be showing on top of the 7.5 million dollars).

Where is this money?

All of the above is the very simple math that Gloucester County officials gave everyone during the recent public hearing of the Board of Supervisor's meeting.  Nearly 15 million dollars can not be accounted for?  Voodoo accounting?  Who's pockets is the money lining?  Fair question based on their statements.  Watch the video we have posted on here, that is where all of this information comes from.  We don't make this up.

Is the 17 million dollars in new bond money to cover the missing money?  Again, that is a very fair question.  And if the 17 million in new bonds is to cover the missing $14,900,000.00, why 17 million in new bond money instead of 15 million?  Is another 2 million slated to disappear?

Other very serious questions we have to ask based on that meeting, the school maintenance supervisor stated that schools are in disrepair to the tune of 30 plus years?  The county board of supervisors has been denying money to the school board for how long for basic repairs?

Where is the money going?  Where is all the money?  Millions seem to be disappearing into thin air while taxes continue to go up.  Anyone see any issues here?   Nearly 15 million dollars missing, everyone is allowing these people to borrow another 17 million?
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