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#1 2011-06-29 22:28:36

Kevin
Administrator
From: Tanglewilde
Registered: 2004-09-08
Posts: 6,929

Fool me once...

Pension deal costs city $17 million more than budgeted - Chris Moran, Chron Houston Politics

The city of Houston has made a deal with its municipal employee union pension system to pay about $34.5 million less than it owes the system in the coming year. But it’s still $17 million more than the city planned to spend in the budget that passed last week.

[snip]

Last week, the city budget approved by Council called for paying about $80 million to the pension. City officials have been negotiating with the pension system for about two months. City Attorney David Feldman said he settled on a figure of $98.5 million with the pension about six weeks ago and since then has been playing defense to ward off pension proposals to reduce the number of pension trustees appointed by the City Council.

[snip]

There was no clear explanation from the dais as to how the city would cover the $17 million increase over what it had budgeted.

Last year, we noted that by passing unspecified spending cuts, the Mayor and her Council had effectively passed a sham budget (which indeed turned out to be the case at the end of the year, when various gimmicks were required to bring it into balance).

This year, the sham of a "balanced" budget seems only to have lasted one week. Granted, $17 million is almost a rounding error in a budget as large as Houston's, but still....



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