Thursday, October 11, 2012

Fire authority liabilities doubled to a half-billion dollars in 7 years

Fire authority liabilities doubled to a half-billion dollars in 7 years - OC Watchdog : The Orange County Register
.....the Orange County Fire Authority is calling them all out in a way that’s a bit unusual, and can leave one short of breath.
On top of pensions, OCFA has piled what it owes workers for medical benefits once they retire, workers’ compensation, and for vacation, sick and other leave time earned but not taken, as well as those pricey helicopter leases.
Here, then, is the picture that emerges:
Over the last seven years, OCFA’s total long-term obligations have more than doubled, to $558 million.
That happens to be twice as much as its general fund budget this year ($282 million).

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