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Comment on Analysis of 2019 City of Milwaukee Budget finds windfall among future challenges by Anonymous
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Comments for Milwaukee Independent
The Wisconsin Policy Forum’s annual review called the Mayor’s proposed 2019 budget for the City of Milwaukee “one of the least contentious in years” in light of an unexpected $9 million reduction in its pension fund contribution.
The report also warns that the benefit will be short-lived, however, and that the city’s long-term budget challenges “remain as intense as ever.”
“It is certainly good news that the budget is able to convert an overestimated 2018 pension payment into stable departmental budgets and a re-stocked pension reserve,” says the report.
Earlier this year, however, the pension fund actuary discovered that the city vastly overpaid in 2018.
While this good fortune provides for a relatively calm budget in 2019, the report highlights some areas of ongoing concern: