Today's Star-Ledger article on big payouts to public safety personnel does not use the phrase "uncompensated liability," but that's what it's called (or used to be called) in state budget parlance.
Longtime workers can accrue sick and vacation days that must be paid when they retire. A municipality can put money aside for this purpose, but when Plaintalker wrote about it a few years ago, no funds had been set aside. Obviously, this is one of those fiscal issues that should be watched, but with limited oversight, is anybody watching?
Here's the explanation from the Plaintalker archives.
Subscribe to:
Post Comments (Atom)
Unfortunately, with our current mayor there has been little fiscal oversight and as we've seen she is in no hurry to have a full-time CFO in place and other leaders who will make sure this ship called Plainfield doesn't founder on the fiscal cliff known as Shady Sharonda.
ReplyDelete