Community Calendar
Community
Calendar
Tomahawk Leader Internet Edition - Newspaper in Tomahawk Wisconsin Photo Album
Photo
Album
Map
Map of
Tomahawk, WI
Grey Bar
The Tomahawk Leader is a state and national prize-winning weekly newspaper serving the scenic Northwoods area in and around Tomahawk, WI.

It is currently Thu Apr 24, 2014 9:25 pm

All times are UTC - 6 hours [ DST ]




Post new topic Reply to topic  [ 1 post ] 
Author Message
PostPosted: Wed Nov 01, 2006 7:02 pm 
Offline
Administrator
Administrator

Joined: Tue Jul 31, 2001 1:01 am
Posts: 656
Has thanked: 0 time
Been thanked: 3 times
A Letter to the Editor in the 10/31/06 Tomahawk Leader:

To the Editor:

A new regulation coming from the Governmental Accounting Standards Board (GASB) Statement No. 45 requires school districts and any other public employers giving benefits to employees report these benefits to the public by including the actual amount of the cost and the dollar number in their budgets.

As Ronald Snell, the director of state services for the national conference of state legislatures said, “when the numbers are produced they’re going to be shocking.”

To give an idea of the cost ahead, the Rhinelander School District has already started to address the issue. They hired an actuary, which according to the regulation must be done. He has already finished the work required. The document gives the projected pension and health care insurance obligations that the school is liable for up to the year 2045. The district’s liability is $26.6 million dollars through 2045. The 2008-09 budget requires the district to invest $3.3 million per year to pay for this estimated liability. They currently budget $800,000 now so will have to come up with another $2.6 million. This is a really big deal. Union officials have said it’s not their fault municipalities put themselves in a hole by promising more than they can deliver. Now we will all pay the price.

Dick Bunkelman
Tomahawk


Top
 Profile  
 
Display posts from previous:  Sort by  
Post new topic Reply to topic  [ 1 post ] 

All times are UTC - 6 hours [ DST ]


Who is online

Users browsing this forum: Bing [Bot], Yahoo [Bot] and 1 guest


You cannot post new topics in this forum
You cannot reply to topics in this forum
You cannot edit your posts in this forum
You cannot delete your posts in this forum
You cannot post attachments in this forum

Search for:
Jump to:  
POWERED_BY
Localized by Maël Soucaze © 2010 phpBB.fr