manxchatterbox Posted February 26, 2006 Author Share Posted February 26, 2006 Terry McCann:- "At the end of 45 years the building will be 45 years old. It will be fucking useless. Rather like yourself" Good job I've broad shoulders and ignore bully boy tactics, sticks and stones etc.. ....methinks the buildings in Lake Road are older than 45 years and as for the new Cooil Road site at the end of 45 years if the building is "fucking useless" where do the Corpy go then? Link to comment Share on other sites More sharing options...
manxchatterbox Posted February 26, 2006 Author Share Posted February 26, 2006 ..also looking back at the 6th Feb posting about the amount of unpaid parking tickets....the figure has alledgedly risen inexorably... quarter by quarter... from £150,000 in March last year to now nearly £300,000 !!!!!! who is (supposed to be) responsible for collecting this money in? (or actually NOT as the case is)...what the hell is going on? looks like someone has taken their eye off the ball...no wonder the rates go up... the message seems to be.... if you get a Douglas Corpy parking ticket so what don't bother paying it 'cos you never have to 'cos they never do anthing to enforce collection.....even though they have an Enforcement Officer costing ratepayers £30,000 a year!!! ..is the non collection perhaps something to do with the farce in the small claims court whereby Default Summons have to be signed by an Advocate? (i.e I'm told the Town Clerk has been signing some Corpy Summons but they are probably not effective so are a wast of time).... ...jobs for the boys....it'll all get covered up and no one will be named and shamed or lose their job for incompetance...and the press don't do investigative reporting or bother to follow up stories so it'll all be hidden under the carpet... Link to comment Share on other sites More sharing options...
manxchatterbox Posted February 27, 2006 Author Share Posted February 27, 2006 ..and I wonder what is the amount of unpaid rates at the financial year end and what is the Corpy doing about collecting the money in from rates defaulters?? Link to comment Share on other sites More sharing options...
sarahc Posted February 27, 2006 Share Posted February 27, 2006 ...and breathe... Link to comment Share on other sites More sharing options...
Skig Posted February 27, 2006 Share Posted February 27, 2006 The land in lake road must be worth 10 times as much as apiece of land up by B&Q. Why must it be? Are you an estate agent? A property magnate? How do you know, or are you just speculating? Dandara will make an awful lot of money with their riverside apartments. A hell of a lot more than they would if they built in a field by B&Q ! Link to comment Share on other sites More sharing options...
manxchatterbox Posted February 27, 2006 Author Share Posted February 27, 2006 "man in the pub" says the Borough Treasurers Office are saying the Corporation is staring into a "black-hole of unimagiable gravity as far as the financing of its budget is concerned".... The amount of unpaid parking tickets is continuing to grow and the amount of the debt is out of control..apparently its an accounting matter with regard to cash-flow that its better to attribute some recoverability to the debts rather than just write them off....(is this correct???) apparently they can't raise the rates as they wanted to 'cos of Govt capping and the only way out to raise the necessary cash is to hock the assets on lease back etc.... ...thing is you can only hock it once and when you've mortgaged all your assets what do you do then?? Link to comment Share on other sites More sharing options...
Gladys Posted February 27, 2006 Share Posted February 27, 2006 To steal a wonderful phrase "I'm no accountant, but I'll have a look"... Assuming that the Corpie account and report under normal accounting standards, then having booked the income from the parking tickets etc. they should, prudently, apply a justifiable (from their particular track record) bad and doubtful debt provision against it. But that is an accounting, not a debt management, issue. Providing for a debt doesn't mean that it ceases to be recoverable, it just means that in the interests of a true and fair view, there will be a percentage of debts that will be unrecoverable and an educated guess at this is reflected in the accounts by reducing the asset of the amount of money you are owed. With my very limited knowledge of accounts (I really don't do figures) debts do not figure in cashflows, only actual cash received and paid out, so writing off a debt, or not, will only impact on the balance sheet where the debtors will be re-stated to show the true figure they expect can be recovered not the cashflow. Actual non-recoveries, I think, are reflected in the profit and loss which, again, is not a cashflow. Like I say, I am not an accountant, but it does seem the man in the pub is passing on information that is not from source! However point taken, there should be more strenuous efforts to collect debts. Link to comment Share on other sites More sharing options...
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