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Cape officials tout pension reform savings

Not all agree projections will be realized

August 1, 2013

In exchange for giving back roughly $50 million in pension reforms, city of Cape Coral workers are going to receive a one-time give back, spread out over two fiscal year....

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lightswitch

Aug-01-13 8:42 PM

Erbrick was on the city disbanded Finance Advisory Committee. Which I might add she voted on to disband when see mistakenly voted into the position of city councilwoman.

The advisory committee had asked questions which got in the way of this runaway Slick Six city council.

Rana Erbrick's best performance on the FAC Finance Advisory committee was when it was stated that there were figures on the North Water Plant as to why it went forward when all the data clearly showed going into the 4th quarter of 2006 and first quarter of 2007 the usage continued to tumble downward. Her statement on Cape TV at the FAC meeting. "What do you want us to do with this information? It is not our JOB to bring this to the city council."

My question is if she thought or found someone whether it was or a possibility should she bring it to council's attention or let them blindly pass a project that was questionable at best? No it was her job and she will be a one term wonder in 2015!

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rocco1

Aug-01-13 9:30 PM

Both the city manager and the financial director have been quoted as favoring a 401K style retirement program for the employees. That turned out to be just talk. We have some very expensive pension benefits, especially in fire and police. Benefits like this are unsustainable, but this council and city manager are putting a bandaid on the problem and kicking the can down the road. Mr. Mc Grail likes to say he doesn't want to kick the can down the road, but that is exactly what he is doing here, while patting himself on the back. With benefits so out of whack, like they are for public safety, the deficits will continue to climb. In the meantime, public safety employees closing in on retirement, will continue racing to collect their lump sum distributions of over 400,000, and yearly pensions exceeding 90,000 a year plus COLA, all at the age of 50. I am all for a generous retirement program for our public safety personnel, but what we have now is ridiculous.

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1Edray

Aug-02-13 10:35 AM

lightswitch:"Rana Erbrick's best performance on the FAC Finance Advisory committee was when it was stated that there were figures on the North Water Plant as to why it went forward when all the data clearly showed going into the 4th quarter of 2006 and first quarter of 2007 the usage continued to tumble downward."

Not quite. The 4th quarter of 2006 it was still going up. Up until Nov '06 usage was at it's historic high. It did drop Dec '06. Usage started coming back up over the next few months. Though lower than '06, monthly totals were still mostly higher than every previous year. Aug '07 saw the start of the long term decline.

There was nothing in the records going back to 1988 that suggested that would be a long term trend over the next few years. Being that was the start of it, would one suddenly stop all projects based on a few months worth of data? The increases in capacity were based on years of data and also having the available capacity for the utility expansion.

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1sandy

Aug-02-13 4:58 PM

The FAC was a joke. They never resolved anything. The RAG Council and their buddies on the FAC just kept talking about issues but resolved NOTHING. Please, Mr. RAG lightswitch, point to something that the RAGs and the FAC resolved the 2 years that they were in charge.

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lightswitch

Aug-02-13 10:11 PM

The data was not a few months it was happening all over the nation. Funny companies and communities that were paying attention knew well ahead of the 4 th quarter the economy was in trouble and made preparations for same. Of course those companies, communities and individuals got to stay liquid and in business. The only thing I agree to what you say is no one knew the length of time. But just like the recession of 1975, 1981, 1991, by watching the signs around the country and the world caution allows acceleration in growth. Plowing ahead for the sake of we must go forward did not work this time and Cape Coral has the proof. You know you don't need a 3 legged stool to know if there are insufficient jobs and little money in the private sector the public sector will starve too. Like I have stated before screw it up again and a receiver comes in cuts public wages and pensions, lays off with respect to REAL REVENUES and corrects the ratios.

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lightswitch

Aug-02-13 10:31 PM

Once again if you divide the savings by the number of years you find that the bulk of the savings comes at the back end of the 25 year term. In 25 years Szerlag will be long gone but maybe not forgotten along with this entire city council and the majority of directors and staff. On the front end of this scam the residents will be here to keep this blood sucking city in a so called state of SUSTAINABILITY. Maybe the taxpayer who do not work for the city do not want to sustain their current lifestyles while they take reductions in wages and benefits and the ones on fixed incomes look at no bonuses, no guaranteed yearly benefit increases, no guarantee there will be a yearly increase in their social security and or 401k or other investments. Maybe the city should be split into 4 cities one for each quadrant. Oh but I forgot so much effort(?) has gone into SUSTAINING 3000 miles of city,county,& state roads, another major layer of bureaucracy to pay for and house, etc., etc., etc..

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johngalt

Aug-03-13 9:33 AM

"The first panacea for a mismanaged nation is inflation of the currency; the second is war. Both bring a temporary prosperity; both bring a permanent ruin. But both are the refuge of political and economic opportunists." Ernest Hemingway. With the bankruptcy of Detroit as a template, the wise might consider a discounted payment now in lieu of a promise to pay payment later. Extravagant future benefits & pensions will no doubt be re- negotiated as innovation ceases and regulation stymies growth. The levy of higher and higher taxes will result in fewer residents, so the taxing authorities respond with more redundant tax schemes. The residents that stay on are ever more dependent of local gov’mt. thru transfer payments or salaries. The downward spiral cannot be stopped. Imagine it as spiral staircase with smaller and smaller steps as you descend. Soon, you’ll be standing in thin air. But, you’ll have your union contract!

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terrygolf1313

Aug-03-13 1:38 PM

ONCE AGAIN THE UNIONS WIN AND THE TAX PAYERS LOSE,MOTOR CITY HERE WE COME

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1sandy

Aug-05-13 7:29 AM

Ah,progress and the reactions of the jealous RAGs...gotta love it!

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