Posted by Riverbender on January 20, 2019, 3:35 pm, in reply to "Installment 2"
This is a very interesting read. When it was written it was a projection of what was going to happen without changes. Today it reads like a history lesson of the many things that were not changed and brought us to where we are today. One very important thing worth noting in the post is "Over 70 percent of the city's cost is personnel-related...". Back in 1993 that left less than 30 percent of Granite City's revenue to maintain or improve our infrastructure and services, (sewers, streets, etc.)." Unfortunately for the City things have gotten worse regarding personnel spending; namely pensions. Currently, as posted in the Madison County Record,Granite City's fire pension was funded at 26 percent, leaving it with a 53 percent funding shortfall. The total needed for full funding was $2,821,719, but the city only contributed $1,322,316, leaving a contribution shortfall of $1,499,403.
Granite City's police pension was funded at 33 percent, leaving it with 50 percent funding shortfall. The total needed for full funding was $2,640,078, but the city only contributed $1,322,316, leaving a contribution shortfall of $1,317,763. Quite honestly at this point who knows what the answer is but continuing on the same way is only going to make the bad situation worse yet, to this day, nothing seems to being done to change anything. Perhaps then, it is hopeless unless changes are made come election day.