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April 18, 2014, 6:48 pm

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McMenamin Vows To Vote ''No'' On Mayor's Budget


At least one Springfield alderman is already coming out in opposition to Mayor Mike Houston’s budget proposal. 

 

Houston this week delivered a budget that he says is balanced… and applies a million more dollars toward the city’s unfunded liability for police and fire pensions.  But Alderman Joe McMenamin says that’s not enough to make a dent in a funding gap that’s approaching $200 million. 

 

McMenamin also says the city is digging an even deeper hole by overestimating the rate of return on pension investments.  But Houston says accepting a lower estimate would force the city to kick in even more money, taking resources away from other vital services.

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