Tuesday, June 25, 2013

State Auditor Yost demolishes City Council on pension woes

Christopher Smitherman has warned the City for years and years about its irresponsible policies on the City pension.  

Yesterday, Ohio Auditor David Yost issued a scathing letter to the City Manager with the State's perspectives on the debacle.  

This is not another political football, or a situation in which reasonable minds can differ.  Under the "leadership" of Mayor Mark Mallory and Finance Committee Chairman Roxanne Qualls, the City has gone from being $81 million underfunded to being $862 million underfunded.  It will take unprecedented growth in the tax base or a massive tax hike to make up the deficit.  

The situation is truly dire.

Read the Yost letter below, a metaphorical indictment of the City's persistent fiscal irresponsibility.

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