Did you think your local tax dollars was going to basic services, libraries, streets, firefighters? Bet no one mentioned that large amount of the budget goes to just ONE item—pensions. In the case of Santa Barbara it is 16%. That does not include the health care costs and others benefits.
Thank you for reading this post, don't forget to subscribe!In one year the cost increased by 1.6%. Now you know why sales tax increases are on the ballot—the money goes to CalPERS. Not the community. You should ask your city council how much they pay to CalPERS.
City Puts Aside $20.6 Million for Retirees
Santa Barbara Independent, 6/3/19
The City of Santa Barbara allotted $20,636,405 — or 15.9 percent— of its total $129,561,865 in general funds to the California Public Employees’ Retirement System (CalPERS) for employee pensions in 2018, according to Finance Director Robert Samario. This was an increase from 14.3 percent in 2017, as part of the city’s ongoing 2016 effort to increase its contribution rates over a five-year period to reduce unfunded pension liabilities created by investment losses during the 2008 recession.
Of the $20.6 million allotted in 2018, $5,575,580 went to retired firefighters and $8,178,449 went to retired police officers. Together, employees from the two departments accrued more than half of the 2018 CalPERS funds.
About Stephen Frank
The pension costs are just a symptom of problems city wide and through out the State.
e.g. There is no proof curb extensions work. (zero zip nada) in protecting pedestrians. They cost taxpayers a minimum of $45K a corner. A flashing cross walk costs installed about $10K. The City of SB is putting in dozen each year.
That money should go to making the city efficient, instead it is being wasted.
The City is trying to make over a failure shopping center in downtown. At the same time it is narrowing roads to destroy the transportation grid at a minimum cost of $55.0 Million. The money spent on street narrowing should go to making government more efficient and businesses successful.
Does this sound like Playa del Ray? Does this sound like Downtown L.A. the Garcetti foolishness?
Why are city employees given every other Friday off? it was started during the recession. The recession is over. So why close government down?
Santa Barbara is the canary in the coal mine. Not paying attention is just the path to destruction and Socialism Dictatorship
I know. They waste money to CAUSE traffic congestion then want to install a congestion tax. Take any issue and it’s the same template.
One of the most simplest way to explain Socialism.
‘You Do Not Have To Go To Venezuela To See Socialism, You Can Go To Compton’ https://www.youtube.com/watch?v=MSdZwsXgcFg&t=13s
One of the most simplest way to explain Socialism.
‘You Do Not Have To Go To Venezuela To See Socialism, You Can Go To Compton’ https://www.youtube.com/watch?v=MSdZwsXgcFg&t=13s
STOP
VOTING
FOR
DEMOCRATS!!!
Ca is going into the drink, there is not enough money now to spit on and all the lies told cannot maintain this cover up….