The City of Prescott's $123.5 Million. Who has ever heard about it?
The City of Prescott has on hand $123,500,000 in "cash" investments. Have you heard about it? Where did the money come from? Where is the money intended to be spent? Why didn't the Mayor's Special Strategic Committee discuss this as a possible option for the PSPRS future unfunded liability payments?
Please read these Memorandums via this link. The CTC is still investigating what this money is all about. More to follow.
Update on 8/12/2017 for the CTC information request relating to the $123,500,000. The data request and city response are at the city and in the process of being assembled by the city employees as the material is not available on the website for public review. The city employees have now and in the past been very helpful. The other option would be reviewing the documents at the city office. However, Mr. Steelman (CTC board member) and the city employees opted for electronic delivery.
When fiscal information is readily available to the elected officials, the same courtesy and access is necessary for the taxpayer. The Memorandums via this link should be posted and made available to the taxpayer immediately to allow for transparency and timely public input. The general public does not have the expertise or time to research and investigate information the City has not disclosed for public review.