'Saving' was just excess taxation
I just received the St. Charles Public Library newsletter. The cover story is about the renovation project that is about to begin.
The article talks about the project and then says, "We are pleased to announce that through advanced planning and responsible financial stewardship, the project will not result in any tax increase, as $13.6 million will be paid through our Special Reserve Fund, which the board of trustees has been diligently saving."
The idea of using the word "saving" with regard to taxing is a joke. What it really means is that the board could not get a referendum passed several years ago and so they decided to tax more than they needed to run the library and retain the extra funds to accomplish their goals without relying on the approval of the voters.
And people wonder why we don't trust government agencies.