Archive for August 11th, 2012

The Sun: Pension costs lead San Bernardino’s debts

Andrew Edwards, Staff Writer
Posted: 08/10/2012 01:46:23 PM PDT

Special Section: San Bernardino

SAN BERNARDINO – The city has nearly $200 million in unfunded pension costs, according to a U.S. Bankruptcy Court filing showing to whom the city owes the most in unsecured claims.

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Published: 10 August 2012 – 07:23 PM

A showdown between San Bernardino Mayor Pat Morris and City Attorney James Penman over the mayor’s veto authority has been resolved, with both agreeing to study contracting out some of the city’s trash operations.

To read story by Imran Ghori in the Press-Enterprise, click here.

Beau Yarbrough, Staff Writer
Created: 08/10/2012 03:41:36 PM PDT

Like a homeowner living beyond their means, California is paying some of its bills late, by months or even years.

And this “the check is in the mail” method of balancing the state budget has forced many of California’s 977 public school districts to either dip into shrinking financial reserves or to pay borrowing fees and interest on short-term loans to cover their expenses in the meantime.

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