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October 24, 2014, 4:17 pm
970 WMAY News

Plan to Use Excess Money for Public Safety Pensions to Get Reworked


A measure to take excess Payment In Lieu of Tax money from the city's Corporate Fund to help pay down some of the mounting unfunded public safety pension liability may get reworked.

 

Alderman Joe McMenamin says he will introduce an amendment the ordinance next week.

 

Several Alderman and Houston administration officials contend there is uncertainty in the city’s reserves with big costs ahead for things like a firetruck or an EPA cleanup bill.

 

The city’s Chief Utilities Engineer says that PILOT money may be diminished by the mild summer and cheaper natural gas prices cutting into wholesale electricity sales.

 

Aldermen will discuss the measure to use excess money in city coffers to pay on the city’s fire and police pensions.

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