Will Fullerton’s Pensions Eat the Library and More?

Fullerton Hunt Library

You think we’re full of it when we warn you about the severity of the pension problem in Fullerton (and elsewhere). You think we’re joking about the pension crisis that threatens to eat our city budget whole.

You ignore when Fitzgerald laughs off structural deficits and joins our council in voting for every pay/benefits package our heroes demand.

Well it is a crisis. A crisis of math and a crisis of ethics.

How bad is it?

It’s so bad our City Manager is actively considering giving away property we can’t readily sell to pay what we owe on the pensions.

Here’s an except from an email forwarded by CM Ken Domer to now-former Administrative Services Director Michael B. O’Kelly, CPA asking for his feedback (emphasis added):

I wanted to share information about fairly new alternative funding concept in public pension – funding using “assets-in-kind”.

Followed by:

The concept of using assets-in-kind for pension and OPEB funding is currently being considered by the State of CT. Attached is one of the presentations made during the hearings of the CT Pension Sustainability Commission that explains the approach (PDF document). I thought it may be interesting for you to review. Of course, the approach is not specifically designed for the states, but can be implemented by the local government as well.

Assets for Pensions

Essentially, the pension fund is ready to foreclose on Fullerton.

First we’ll lose worthless assets like the poisoned park, the bridge & stairs to nowhere, some undeveloped land. Then council will vote for some more hero benefits and CalPERS will change the discount rate again and we’ll move on the hunt branch library, the main branch library, the community center, Hillcrest and so forth. At some point we’ll sell City Hall and Council Chambers to the pension fund which would be fitting considering the heroes and their pensions already own our council and staff.

We’ll do all of this because, according to our council majority the budget is balanced.

And because we’re in excellent financial shape.

nothing to see here more along

Behind Closed Doors Jennifer Fitzgerald Transparency Union Goons Watch Your Wallet

13 thoughts on “Will Fullerton’s Pensions Eat the Library and More?

  1. Jesus Silva has been going around telling people that a 1% tax is coming in November of 2020. Now why would he say that? Who is orchestrating this and is there a Brown Act violation occurring?

  2. Cannabis businesses are also coming to town…

    Pot, not Potholes!

    Any yes, expect a 1 cent sales tax increase in 2020

    1. FYI-Cannabis businesses are already in Fullerton. Since cannabis delivery is legal in the state of California, the City of Fullerton has had legal cannabis delivery/sales in the city for quite some time. However,we have lost out on all that sales tax revenue. And, I’m sure the city is receiving no revenue from the illegal shops in Fullerton .

  3. Meanwhile, anyone check out the “ improved roadwork “ being done on Bastanchury in between Brea Blvd. and Harbor. NO Mayor Silva and City officials…… re-painting the white lines and doing shitty ass patchwork on all the potholes , broken roads doesn’t equal new and improved roads. Putting lipstick on a pig ….just like they’ve been too Fullerton for years.

  4. You are absolutely correct. Based on many years of observation, I have developed a low trust level with what our city Council says they will do and what they have done.
    Correct me if I’m wrong. For many years we had a water tax that was to be used for city infrastructure. However, that money was instead directed to the general fund.
    So, for 30+ years we had funds that were available to deal with our infrastructure issues. Instead that money was spent in other areas.

  5. A 1% sales tax increase is guaranteed to come November 2020. Before they start talking tax increase, they need to restructure the fire department. Fullerton can do exactly what placentia is doing and contract out paramedics to a private company and reduce the number of full time firefighters since all they’ll have to do now is put out the occasional fire. The potential savings is in the millions.

  6. Stop complaining Fullerton. Placentia sales tax was bumped up already. What for you ask? You tell me. It looks the same as it had for the last 15 years!

    1. La Palma City Council members and the La Palma Police Officers Association donated most of the money to convince voters to raise their taxes to “Save our Police” and “keep community services”. Where did the money actually go? Pension debt and increases in employee salaries and benefits — not services. It seems deceit and manipulation are the currency of every city council in the area.

Leave a Reply

Your email address will not be published.