Just in time to ruin my day, reader and Greenwich resident Lucia Jansen sends along the following:
…I sit on the RTM on the Budget Overview Committee and created this analysis of an upcoming Greenwich firefighter contract to be voted Monday night at the RTM. Like pigs going to slaughter the RTM Finance and Labor Contracts committees voted to support the contract—with the same tired, party line “because we can’t win in arbitration.” The finance committee vote was 10-1-0…one member wasn’t there (Erf Porter, II) but surely he would be supporting the contract as he always does. The Labor Contracts committee (with Joan) was 5-0-0.
Anyway, I thought you would enjoy reading the analysis. The spreadsheet was done recently with the numbers plugged in with the deal Tesei and Caldwell negotiated. Please note, that in the Explano’s to the RTM Tesei was clever and didn’t put in the full pension cost, but only the “normal” cost and excluded the unfunded liability…..as if the taxpayer isn’t on the hook for it all. My spreadsheet shows the true cost of the contract—an increase of 14.60% costing the taxpayer over 3 years $48,851,218. Note, the pension cost increase of 64.99% over a mere 3 years.
Read it and weep.