Budget Magic

by shinblind

Dec 13, 2017

Can someone explain how Ludington's unfunded pension liability went from around $3,000,000 in 2011 to $11,000,000 in 2016 ? ? ?

Is this the magic the City uses to balance the budget? Underfund pensions in order to balance the books?

Should we be worried?

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  • up

    shinblind

    Here is a comparison with Manistee. Looks like they are fiscally more conservative with funding their pensions.

    Dec 13, 2017

    • up

      Willy

      Is this for all pensions, police, executives, contract personnel  and City employees? What is startling is the per capita figure. The Council has created debts that even the children are responsible for. Shouldn't this information have been in the latest budget that was approved? Good find shinblind

      1

      Dec 13, 2017

      • up

        Brad

        It would be nice to have a graph on percentage of benefits-to-wages in relation to the private businesses and other cities.  As X has pointed out in the past many times (and unheard)

        1

        Dec 14, 2017