Barry Allen’s
Comments on
By the numbers: According to public records, the City’s
contribution to pensions doubled between 2005 and 2007 to $20,000,000. In 2006,
the un-audited actuarial accrued pension liability was $93,000,000. City debt
is $432,000,000 while investments are at $501,000,000
Taking care of business: Fingerprinting,
live scan and passport services generated $777,000 less than planned.
The City can’t lose money fast enough without adding “profitable” enterprise
accounts.
Shakeup in the City’s Finance Department: A new outside
audit firm is being approved. Three years is insufficient to find the
accounting issues and deal with them.
Last year Finance and Management Services added 5 and 8
staff respectively.