The Long Beach Herald has a whopper of a story before the holiday season. It seems Scrooge has come to Long Beach, and without emergency action, Long Beach can’t make payroll on December 23rd. Meaning that, Long Beach’s workers won’t get paid two days before Christmas.
Of course, in the leaked menu obtained by the Herald, City Manager Theofan and the comptroller are frantically working to borrow money – over $1 to cover the shortfall. An emergency City Council meeting will be held on November 30th to approve the Long Beach “bailout.”
It’s interesting that for month’s we’ve heard about the fiscal health of Long Beach, yet when push comes to shove, we can’t pay our bills and seemingly have known we wouldn’t be able to for as many months.
City Manger Theofan explained that it was all Irene’s fault because of the overtime the City racked up, and FEMA hasn’t paid up yet. How is this a surprise and why weren’t residents aware of this earlier.
The other whopper to come out of this memo is that while resigning acting police commissioner Sofield Senior will not be getting a golden parachute. But his accumulated sick and vacation time add up to 500k. And he wants it within 60 days. And here I am getting excited about my 10 vacation days a year that are use or lose…
The plan the City Manager has floated is to borrow $1.5 million to cover the payroll shortfall of $1.4 million (are we already assuming the estimated shortfall is larger than $1.3 million?). If my math is right, the City only has $100,000 to pay the $1.3 million bill. Much later after all the obfuscation about Irene, the crux of the matter comes up, and that’s these unbudgeted payouts. The memo says these payments total to a monstrous $1.4 million for the three employees, making any Irene-incurred overtime seem like just a drop in the bucket.