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October 22, 2014, 8:45 am
970 WMAY News

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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