Todays Mail Box-- The Mayor Gentes Balance Sheet

Today we sent out a mailing talking about the balance sheet that I inherited back in 2001. Our opponents are talking about quite a few things, which sadly is easy to do, but I prefer to point to tangible things. Each number presented on the mailing is from an audited statement of the village, we have increased cash on hand, reserves, and reduced liabilities.

Yes the village has debt, every village does, our ratio of assets to debt is 4.9 to 1, which compares with Vernon Hills and Libertyville for example. The other Round Lake Area communities are 2 to 1 or worse.

The discussion on debt is interesting, because I think it exposes a the lack of appreciation for what we received in exchange for debt, we have a police and public facility that will serve us for decades and we have strategic land holdings in our downtown and on our borders.

The village is blessed with the ability to have a long view on things, such as land holdings. Mark Twain said it best I think with the quote went something like this "Buy land, they aren't making anymore of it."

I would also observe most wealthy families have huge long term land holdings as a way of consolidating their wealth, while we are not a family we do operate as a stewardship for the community which could be similar to a family.