Michael J. Sorba, Staff Writer
Posted: 03/19/2010 07:36:00 PM PDT
COLTON – Pricey pension packages, budget breakdowns and deep deficits have reduced or jeopardized the reserves some cities have amassed over recent years.
Both Colton and San Bernardino are struggling with dwindling incomes that have burned cash reserves to dangerously low levels.
Rialto is struggling with higher pension costs set to start July 1, which a top official has said will deplete a sizeable $31 million reserve within three years if employees don’t agree to concessions.