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Dear Editor:
Quietly and efficiently, the new mayor of Carmel is bringing the state’s highly effective budget director into her government as chief financial officer.
Zac Jackson is charged with managing city finances and cash flow planning, analyzing the city’s financial position and setting financial strategy.
That is one tall order in a city famous for its $1.5 billion debt and fiscal stonewalling.
Even the new mayor herself found it impossible, as a city councilor, to crack the Iron Curtain surrounding Carmel Redevelopment Commission’s $18.5 million cost overruns on the over-priced luxury Hotel Carmichael.
Jackson also can finally clear up the half-in, half-out debt reporting maze that lists 79 bonds in one place and 22 fewer elsewhere, designating some bonds “developer-backed” in an obvious ploy to keep the outstanding principal owed under $1 billion.
Inflation, stagnation, rising interest rates and a general monetary mess coast to coast will only add to Jackson’s burdens.
We non-mayors wish him well.
Bill Shaffer
Carmel