Thursday, June 11, 2009

JCCI Study: Jacksonville's Finances 'In Crisis'

"The study reports the city has debt obligations of almost $3 billion dollars and the problems have been made worse by the national recession."

"The study found the city isn't setting aside enough money every year for maintenance and construction and is not able to adequately take care of its assets."

"And the biggest threat to the city's financial health is the underfunded pension plans owed to fire and police and other city workers. The city now owes the funds $1 billion."

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