If you can decide for the Council, which budget scenario do you like?

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  • Michael F. Sarabia - 12 years ago

    1. To share the pain, propose to those affected by Pension costs, that an equal amount of the new funds that they will provide will be matched by mandatory days-off without pay by ALL City employees, other than those that meet the Proposed Pension Cost funding requests. In effect, the city will double the impact of their sacrifice.
    The day offs to be allocated as deemed feasible, but all must "share the pain". The days-off planned to allow minimal impact on city services. Some may want to shut a complete Department one or two days per month, other may want to distribute the absentees in ways that let others fill-in where practical but, no doubt, a reduction on speed of service.
    2. Begin contingency plans for a mandatory savings account equal to 4 Percent of gross pay, for all City employees with no exceptions. The savings accounts to be maintained by a trusted financial agency outside City control. All savings will receive a 4 Percent yearly interest rate. Anyone that leaves the city payroll will automatically receive all their savings and accumulated interest after they meet normal departure procedures. These funds will be solely dedicated to the City payroll, only -no capital purchases, rentals, etc. The City will continue to cover other payroll obligations. Every year, the need to continue, and the amount, of savings will be reviewed for reductions -if appropriate. The mandatory savings plan to be in use for two years and renewed for two-year periods to facilitate planning.
    1 and 2 The public must be informed of these measures and the expected delays in some city services, other than Police and Security.
    3. Make an 8-year budget plan and borrow whatever funds may be required. A line of credit at a "good" interest rate might be available. Banks have Billions in cash since few are buying new homes. Now may be a good time to borrow, long term - eight years? Better minds will decide the actual numbers used here. Consider this a First Draft.

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