Saturday, November 17, 2012

Will Wilde: Rainmaker

The City of San Angelo produced a graph (cartoon) showing the impact of its business-type activities in its latest Comprehensive Annual Financial Report.

Principal Officer Will Wilde, Director of Water Utilities, is the city's biggest rainmaker.  Between Water and Sewer it looks like the City produced $12 million in profits on nearly $40 million in revenue.  A 30% profit margin, that's PEU sweet.

Update 12-6-12:  Despite making $8 million off water alone last year, the City has a $4.8 million fund that could be used for rebates.  Council targets 90 days of water revenue, roughly $4.9 million.  That should be closer to $6 million a quarter from the graph above.  While the rainmaker retired, questions remain as to how the bounty has been used.  It's not much a stretch for citizens concerned about Will Wilde's ethical gaffes to wonder if he acted like Yantis Green with the public's money.

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