how memphis solve our financial woes
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Memphis Light Gas & Water could bail out the City of Memphis a financial crisis without raising taxesTRANSCRIPT
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How MemphisHow MemphisHow MemphisHow Memphis solve solve solve solve
our financial our financial our financial our financial woeswoeswoeswoes By Stanley Green
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How Memphis solve our financial woesHow Memphis solve our financial woesHow Memphis solve our financial woesHow Memphis solve our financial woes City of Memphis has been stricken with a plague of the Blue
Flu and Red Rash. Hundreds of police and firefighters have
called in sick to protest their health benefits and retirement
pensions being cut short. In addition the city owes Shelby
County School Board 57 million dollars. The only solution
has been to raise taxes. Well raising taxes is the wrong
answer. The smart answer is Memphis should withdraw
emergency funds from its revenue producing public utility
company to solve our financial woes.
Memphis Light Gas & WaterMemphis Light Gas & WaterMemphis Light Gas & WaterMemphis Light Gas & Water Memphis Light Gas & Water Public Utility Company (MLGW)
produces a billion dollar annual revenue. City of Memphis’
taxpayers own MLGW, but private shareholders have been
reaping all the profits. As a result, the City of Memphis has been
officially ranked among the poorest cities in the United States.
This means that MLGW has not shared sufficient profits with the
City of Memphis. If such were true, Memphis would become
ranked as the most prosperous growing city in America. The
latter would eliminate need of raising taxes to pay our debt.
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MLGW 2013 Annual ReportMLGW 2013 Annual ReportMLGW 2013 Annual ReportMLGW 2013 Annual Report MLGW 2013 Annual Report has been published online opened for
public inspection. Each financial figure has been recorded in
thousands. What thousands mean is we have to add three zeroes
(000) to whatever figure has been shown to acquire the exact
amount. For example: A figure such as 343 equals to three hundred
forty three thousand dollars ($343,000). Whereas, a figure of
343,000 equals to three hundred forty three million dollars
($343,000,000). MLGW furnishes utilities to seven (7) different cities
to include: City of Memphis, Arlington, Bartlett, Collierville,
Germantown, Lakeland, Millington, and other rural areas.
Mayer Hoffman McCann P.C.Mayer Hoffman McCann P.C.Mayer Hoffman McCann P.C.Mayer Hoffman McCann P.C. Mayer Hoffman McCann P.C. (MHM) is the certified public
accountant (CPA) firm that has audited City of Memphis Light
Gas & Water Public Utility Company. 2013 Annual Report.
According to MHM, MLGW has taken in nearly one and a half
billion dollars. What percentage of this amount is profit and
how much has gone to the City of Memphis to pay our bills? If
City of Memphis is the primary stock holder, then the 2013
Annual Report should reflect Memphis as the principal
beneficiary to reap whatever profits have been made.
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2013 Electric Operating Statistics by Town2013 Electric Operating Statistics by Town2013 Electric Operating Statistics by Town2013 Electric Operating Statistics by Town This chart is a graphic illustration of MLGW’s 2013 Electric
Division operating statistics by town. Each town has been
assigned a specific color. The chart has been divided into pie
slices. The City of Memphis reflects about seventy five (75)
percent of the total pie. The total amount MLGW has taken in
was one billion two hundred forty six million eighty one
thousand dollars ($1,246,081,000). The latter figure doesn’t
include the Gas and Water Division shown on different charts.
2013 Statistical Highlights 2013 Statistical Highlights 2013 Statistical Highlights 2013 Statistical Highlights ---- Electric DivisionElectric DivisionElectric DivisionElectric Division 2013 Statistical Highlights – Electric Division is a breakdown listed
as follows: Residential, Commercial General Services, Industrial,
Outdoor lighting and Traffic Signals, Interdepartmental, Green
Power, Miscellaneous, Accrued Unbilled Revenue, Revenue
Adjustment for Uncollectibles. The total operating revenue is
reflected in the exact amount of one billion two hundred forty six
million eighty thousand six hundred ninety two dollars
($1,246,080,692). In other words MLGW’s Electric Division is a
billion dollar operation in itself. How much of this billion dollar
revenue is generated for the City of Memphis to pay its bills?
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2013 Gas Operating Statistics2013 Gas Operating Statistics2013 Gas Operating Statistics2013 Gas Operating Statistics by Townby Townby Townby Town This chart is a graphic illustration of MLGW’s 2013 Gas Division
operating statistics by town. Each town has been assigned a
specific color. The chart has been divided into pie slices. The
City of Memphis reflects about seventy five (75) percent of the
total pie. The total amount MLGW has taken in was two
hundred eighty four million six hundred sixteen thousand
dollars ($284,616,000). The Gas Division’s revenue doesn’t
come anywhere near close to MLGW’s Electric Division.
2013 Statistical Highlights 2013 Statistical Highlights 2013 Statistical Highlights 2013 Statistical Highlights –––– Gas Gas Gas Gas DivisionDivisionDivisionDivision 2013 Statistical Highlights – Electric Division is a breakdown listed as
follows: Residential, Commercial General Services, Industrial, Outdoor
lighting and Traffic Signals, Interdepartmental, Green Power,
Miscellaneous, Accrued Unbilled Revenue, Revenue Adjustment for
Uncollectibles. The total operating revenue is reflected in the exact
amount of two hundred eighty four million six hundred fifteen thousand
nine hundred seventy dollars ($284,615,970). MLGW’s Gas Division is a
mega million dollar revenue producing industry that takes in a billion
dollars less than the total amount compared to the Electric Division.
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2013 Water Operating Statistics by Town2013 Water Operating Statistics by Town2013 Water Operating Statistics by Town2013 Water Operating Statistics by Town This chart is a graphic illustration of MLGW’s 2013 Gas Division operating
statistics by town. Each town has been assigned a specific color. The
chart has been divided into pie slices. The City of Memphis reflects about
seventy five (75) percent of the total pie. The total amount MLGW has
taken in was two hundred eighty four million six hundred sixteen
thousand dollars ($284,616,000). The Gas Division’s revenue doesn’t
compare anywhere near close to MLGW’s Electric Division.
2013 Statistical Highlights 2013 Statistical Highlights 2013 Statistical Highlights 2013 Statistical Highlights –––– Water Water Water Water DivisionDivisionDivisionDivision 2013 Statistical Highlights – Water Division is a breakdown listed as
follows: Residential, Commercial General Services, Industrial,
Outdoor lighting and Traffic Signals, Interdepartmental, Green
Power, Miscellaneous, Accrued Unbilled Revenue, Revenue
Adjustment for Uncollectibles. The total operating revenue is
reflected in the exact amount of eighty four million seven hundred
eighty thousand one hundred fifty three dollars ($84,780,153).
MLGW’s Gas Division is the least revenue producing industry.
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TTTThe he he he smart thing to dsmart thing to dsmart thing to dsmart thing to doooo The smart thing Memphis could do is reallocate funds from MLGW to
finance City of Memphis’ expenditures. MLGW generates one and a
half billion dollars revenue each year. Private shareholders have
reaped majority of the profits leaving the City of Memphis broke. I
have lived in Memphis all of my life. One thing I have discovered is
that public officials don’t believe in making smart decisions. Instead,
decisions have been made as knee jerk reactions that never make any
sense. My idea makes better sense because it avoids raising taxes.
Memphis police director: Memphis police director: Memphis police director: Memphis police director: ““““WeWeWeWe’’’’re in crisis re in crisis re in crisis re in crisis
modemodemodemode”””” as sickas sickas sickas sick----out growsout growsout growsout grows Memphis Police Director Toney Armstrong has issued a public
announcement about police officers calling in sick (i.e. Blue Flu) to
protest Memphis City Council and Mayor A C Wharton, Jr. voting in
favor of cutting health benefits. Memphis police force is made up
of 2,200 members. Five hundred twenty two (522) officers have
called in sick. This is nearly one fourth of our total police force.
Memphis City Firefighters have called in sick as well suffering ‘Red
Rash’. The protests have endangered our public safety.