Fitch is a rating agency that attempts to tell bond investors the level of risk that they face when buying bonds.
They issued a report concerning the city’s bond offerings in 2016.
Among their observations:
Public safety pension contributions fell short of actuarially required contributions by approximately $6 million.
The $6 million dollar shortfall was for the 2015 fiscal year.
In other words the city paid less money into the police, fire, and employee pension funds than they should have.
We will get the bill later.
We deserve better