State Board of Accounts Hammond Audit2015 Opps!

justcallmetommy · **Joined:** Thu May 01, 2008 8:25 pm **Posts:** 5662

http://www.in.gov/sboa/WebReports/B45293.pdf

Here we go again... Mayor Thomas McDermott Jr, during his tenure has taken hammond from a AAA Standard and Poors, junk bond status.

Quote:

http://www.bondsonline.com/Todays_Market/Credit_Rating_News_.php?DA=view&RID=38819

Hammond Local Public Improvement Bond Bank, IN 2010A Bond Rating Lowered To 'BB+' After Hammond Downgrade

CHICAGO (Standard & Poor's) Oct. 27, 2014--Standard & Poor's Rating Services
said that it lowered to 'BB+' from 'BBB-' its long-term rating on Hammond
Local Public Improvement Bond Bank, Ind.'s series 2010A bonds, supported by
the city of Hammond. The outlook is stable.

"The lower rating reflects our lowering the city's issuer credit rating (ICR)
to 'BBB+'," said Standard & Poor's credit analyst Steffanie Dyer.

Per the Audit Cash & Investments on Hand ($23,409,240) with an ending Balance of ($33,829,002).... $34 Million in the red! Ouch

Park Department, primarily because of the Festival of the Lakes is ($1,925,989) in the red... running a $2 Million loss in operations.

The Golf Course, Loss Marsh, is running ($244,270) in the red, nearly a quarter million dollar loss for Tom can play golf!

The Henry Unit, which is propping up an underfunded and understaffed police department cost ($1,298,458). How much over time can some one work before they become ineffective, placing the public and themselves at risk? Especially someone in public safety.Was that a factor in an incident which occurred this summer?

justcallmetommy · **Joined:** Thu May 01, 2008 8:25 pm **Posts:** 5662

Rental inspections ended with a ($279,753) deficit, despite collecting $857,865 in rental fees.

Unfortunately..... Tom, won't own the half a million dollars spent defending the Rental Registration fees, but a judge lowered the fees to $5....

justcallmetommy · **Joined:** Thu May 01, 2008 8:25 pm **Posts:** 5662

and in the pdf document, under find phrases, type in "Excess (deficiency) of receipts over
disbursements" the number and amount of deficiencies in Mayor Thomas McDermott Jr's budget is bothersome....

Despite over $37 million in gaming money revenue, along with another $48 million in receipts, Hammond still had a $33,829,002 deficit.......

justcallmetommy · **Joined:** Thu May 01, 2008 8:25 pm **Posts:** 5662

& as to that what Mayor Thomas McDermott Jr promised regarding Potash... $10,000,000 given to Potash Inc... one of the wealthiest Corporations in the WORLD has in addition to the $10,000,000 given to Potash, Hammond residents paid $7,511,409 in construction cost, $1,121,113 in Bond fees/cost and another $215,000, for a grand total of $8.8 Million spent with out the site being operational.

Tom and Company hawked it would provide a whole 6 full time jobs.

Yea, Tom's gonna say it brought construction work to the area.... well how many Hammond residents are working on that site? 2?

justcallmetommy · **Joined:** Thu May 01, 2008 8:25 pm **Posts:** 5662

New major debt! Hammond citizens gave, $850,000 to fund a restaurant, which appears to have benefited members of the McDermott clan..... did a couple of family members cash in?

Was a family member made a partner in the LLC for this new restaurant......?

Quote:

http://www.bondsonline.com/Todays_Market/Credit_Rating_News_.php?DA=view&RID=38819 page 17

The City issued the following new major debt in 2014:
I. On August 25, 2014, the City of Hammond issued the City of Hammond Indiana Economic
Development District Revenue Bonds, Series 2014 (Gateway Area Project) for $850,000
for the "Gateway Area Project." The debt will be used finance a portion of acquisition, construction,
installation, and equipping of a new restaurant in the TIF district. The debt will
be repaid by TIF Increment revenues from the Gateway Development Area.

justcallmetommy · **Joined:** Thu May 01, 2008 8:25 pm **Posts:** 5662

& now Hammond tax payers are saddled with bond debt to the tune of $7.6 Million for the Dowing Park Project.... which Mayor Thomas McDermott Jr is giving to Purdue!

A complex which will be built, at the cost of Hammond residents, at which they will be excluded from use.

Quote:

http://www.bondsonline.com/Todays_Market/Credit_Rating_News_.php?DA=view&RID=38819 page 18

On December 10, 2014, the City of Hammond issued the City of Hammond, Indiana
General Obligation Park Bonds, Series 2014 for $7,622,261.90 for the "Dowling Park
Project." This debt was issued to finance a multi-purpose outdoor sports complex and
recreational facilities. The debt will be repaid by property tax revenues.

justcallmetommy · **Joined:** Thu May 01, 2008 8:25 pm **Posts:** 5662

Tom Sold Conkey for $485,000..... only $485,000.... Hell Purdue bought a much smaller building for $1,000,000 from a friend of Tom's making Tom's pal $300,000 plus in about 30 days.......

One of the things I understand the feds are looking at is the use of city funds to rehab that $1,000,000 property!

But a city owned building, twice the size is sold for $485,000?

Quote:

http://www.bondsonline.com/Todays_Market/Credit_Rating_News_.php?DA=view&RID=38819 page 18

B. Major Changes to the Status of Fixed Assets

The City made major changes to fixed assets in 2014. The property at 625 Conkey Street,
formerly the City of Hammond Recycling Center, was sold to JJS Recycling Factory LLC on
September 12, 2014, for the amount of $485,870.

justcallmetommy · **Joined:** Thu May 01, 2008 8:25 pm **Posts:** 5662

Now if you remember, when Tom was first elected, he labeled the previous administration as dead beats, they didn't pay their bills.

Yet NIPSCO is suing Hammond as the Sanitary District is $2,775,000 in arrears.... OUCH!

Quote:

http://www.bondsonline.com/Todays_Market/Credit_Rating_News_.php?DA=view&RID=38819 page 18

C. Lawsuits
The Hammond Sanitary District was named in a complaint filed by Northern Indiana Public
Service Company (NIPSCO) on August 26, 2014. The complaint alleges the Hammond
Sanitary District is delinquent in payment in the amount of $2,775,000. The parties are
currently in settlement negotiations.

justcallmetommy · **Joined:** Thu May 01, 2008 8:25 pm **Posts:** 5662

As to the Parks Department.... the true cost of the Festival of the Snakes?

Well it is about $1,500,000 Hammond Taxpayers shell out each year.

The Parks Department open the fiscal year $3,467,000 in arrears, winding up with $1,925,000 in uncovered expenses...

justcallmetommy · **Joined:** Thu May 01, 2008 8:25 pm **Posts:** 5662

But what ya gotta read is a $17,000,000 error...

justcallmetommy · **Joined:** Thu May 01, 2008 8:25 pm **Posts:** 5662

Found in another report released by the SBA....Now why did the SBA cite Tom McDermott Jr with spending over $34.5 Million in excess of the budget?

Quote:

http://www.in.gov/sboa/WebReports/B45293.pdf page 16
Disbursements in Excess of Fund Appropriations
General $ 31,770,409
M.V.H. 2,647,691
LRS 5 01,309
C.C.D.F. 55,670
Water Hydrant Rental 8,367
Civil City Bond 801

Indiana Code 6-1.1-18-4 states in part: ". . . the proper officers of a political subdivision shall
appropriate funds in such a manner that the expenditures for a year do not exceed its budget for that year as
finally determined under this article."
Appropriations as stated in the budget, or as modified by additional appropriations, shall constitute
the limitation of disbursements. No disbursement shall be made without an appropriation therefore unless
specifically authorized by law. (Accounting and Uniform Compliance Guidelines Manual for Cities and Towns,
Chapter 1)

Tiger1 · **Posted:** Mon Aug 31, 2015 9:22 am

Throwing money away at corporations that are not employing Hammond residents, except for a handful of token jobs.
We are going the way of Gary real quick. I check the Real estate listings regularly, as they are an indicator of Hammond's economy. One house that was just listed for $44,000 is a house I looked at to buy 25 years ago. 25 years ago, that house was going for $50,000.

formerly hammond · **Joined:** Mon Jul 28, 2008 5:53 pm **Posts:** 200

I will beat a dead horse here and frankly, I don't give a DAMN what anyone says.

McMoron said closing the health department would save money for Hammond taxpayers. Really? How is that working out for ya?

The only reason he closed the health department is because he couldn't handout patronage jobs to friends and family or fire those whom he wanted canned. So he paraphrases Robin Williams' joke in action... If I can't screw it, I'll kill it.

Everything that man touches turns to excrement.

I wonder how long before the little Tommy Dabertin and the merry band of Dabertins goes after McMoron?

Hammond, Indiana, the toilet rim of Indiana, right next to the toilet hole, Gary.

justcallmetommy · **Joined:** Thu May 01, 2008 8:25 pm **Posts:** 5662

Quote:

http://www.in.gov/sboa/WebReports/B45293.pdf page 18

On December 10, 2014, the City of
Hammond issued the City of Hammond, Indiana
General Obligation Park Bonds, Series 2014 for $7,622,261.90 for the "Dowling Park
Project." This debt was issued to finance a multi-purpose outdoor sports complex and
recreational facilities. The debt will
be repaid by property tax revenues.

This is the Sports Complex facility McDermott gave to Purdue University, yes Hammond residents are paying for the bond debt, and Tom just handed it over, with Hammond residents loosing use, ownership of this asset, but having to pay for it.

354

justcallmetommy · **Joined:** Thu May 01, 2008 8:25 pm **Posts:** 5662

Quote:

Lawsuits http://www.in.gov/sboa/WebReports/B45293.pdf pg 18
The Hammond Sanitary District was named in a complaint filed by Northern Indiana Public
Service Company (NIPSCO) on August 26, 2014. The complaint alleges the Hammond
Sanitary District is delinquent in payment in the amount of $2,775,000. The parties are currently in settlement negotiations.

Under McDermott's leadership the Sanitation Department is almost $3,000,000 delinquent paying a utility payment? http://www.in.gov/sboa/WebReports/B45293.pdf pg 22

Now is this an isolated incident? Did someone sorta forget to write a check for a month or not pay the bill for over a couple of years? Did this policy place Hammond residents at risk?

The Hammond's Park Department as well, can't operate with in their budget, they are $3,000,000 in unpaid debt.

And Tom wants to be Governor or us Senator.

355

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