By Bruce A. Fasol
In economic theory there exists the model of ‘Trickle Down Economics.’ It is generally applied to recognize economic success theoretically beginning on a ‘Wall Street’ level, and eventually reaching local ‘Main Street.’ However, these days in Illinois, it is not success that is trickling down – t is the lack of it. The deep economic abyss in which this state finds itself in has indeed began to trickle down, too.
Continued problems balancing Springfield’s books has local leaders taking stock of their own spending and shirt term economic planning.
Zeigler finance commissioner Jim Flood suggested that the city of Zeigler needs to “pull back” and cut some of the unneeded spending. You might call it the local version of sequestration. Commissioner Flood suggested that Tuesday may bring a more comprehensive set of measures intended to more tightly monitor spending. One of the ways that Flood said spending should be closely monitored was pre-approval of purchases.
At the most recent City Council meeting, Flood cited a bill for $377 that was approved that evening. It came as a surprise to him as it was a late addition to the information provided commissioners prior to the meeting. “I didn’t see the product before it was purchased,” Flood remarked. He said he approved bills without having been able to assess actual need, compare prices or other safeguards. “There must be a way of controlling spending”
Some measures are currently in place regarding the amount that can be spent without prior council approval, who can make purchases and other regulations regarding purchases. However, commissioner Flood is expected to revamp or increase the number of such provisions in an effort to control rising costs to the city. Those regulations could come as early as Tuesday nights meeting, Flood said.
