The Coral Gables Budget Condition
May 9, 2009 Leave a comment
Citing a recent editorial of the Coral Gables Gazette:
It’s no secret why Coral Gables is now a financial basket case. Too many employees making too much money. In the current fiscal year, the average cost to taxpayers per employee is a staggering $121,519. The city gives its 865 employees $62 million in wages and an additional $43 million in benefits, including a $24 million pension contribution. This is simply unsustainable for a municipality with revenues of $143 million and dropping.
Hence the only solution for Coral Gables it so rethink its staffing, organization and program reach, reducing staff and freezing salaries for the foreseeable future.