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Thanks to union contracts, and their ownership of the city council, we know when the San Bernardino County city o fRialto will become bankrupt---in three years.
Unless special interest union contracts are rolled back, this city will economically die.
And that might be a good thing.
"The top manager believes the city could face a financial crisis in three years unless employee bargaining groups agree to sweeping concessions.
"It is a 36-month window," City Administrator Henry Garcia said. "I don't anticipate new revenue to occur of a significant nature."
Garcia said the city's General Fund budget is at $53 million with roughly $31 million in economic reserves.
But he wants city employees to extend millions in concessions given to fix last year's deficit, and push back enhanced pensions set to kick in next year.
Garcia said because of rising costs passed on from the state's public employees retirement system, the city's retirement costs starting next year add up to $12 million, of which roughly $5 million is wrapped in retirement packages for public safety and general employee unions that were sweetened by a 3-2 City Council vote in 2008."
In a $53 million budget, one item, pensions, is $12 million--almost 15%. Rialto, like most cities are in trouble, and the trouble can be traced to union monopoly agreements.
End the monopolies and you endmost of the fiscal troubles.
Get angry or get poor.
More...
Unless special interest union contracts are rolled back, this city will economically die.
And that might be a good thing.
"The top manager believes the city could face a financial crisis in three years unless employee bargaining groups agree to sweeping concessions.
"It is a 36-month window," City Administrator Henry Garcia said. "I don't anticipate new revenue to occur of a significant nature."
Garcia said the city's General Fund budget is at $53 million with roughly $31 million in economic reserves.
But he wants city employees to extend millions in concessions given to fix last year's deficit, and push back enhanced pensions set to kick in next year.
Garcia said because of rising costs passed on from the state's public employees retirement system, the city's retirement costs starting next year add up to $12 million, of which roughly $5 million is wrapped in retirement packages for public safety and general employee unions that were sweetened by a 3-2 City Council vote in 2008."
In a $53 million budget, one item, pensions, is $12 million--almost 15%. Rialto, like most cities are in trouble, and the trouble can be traced to union monopoly agreements.
End the monopolies and you endmost of the fiscal troubles.
Get angry or get poor.
More...