This one goes out to the ones who believe we have a fiscal crisis and to those who don’t. Bloomberg reports on Long Beach and $$$$:
…..The City Council declared a fiscal crisis last month after a 66 percent increase in overtime and a $500,000 payout to a retiring police commissioner forced officials to tap the bond market for $4.25 million in December. Long Beach is facing a $10.3 million deficit, about 12 percent of its $83 million budget, by the end of its fiscal year June 30. It may need to borrow again before then, Schnirman said in a March 19 interview.
There is plenty of more where that came from. Read: N.Y.’s DiNapoli Audits Long Beach Amid City’s Fiscal Crisis