Instead of issues that are non-consequential to the pocket books of the residents, business-owners and employees of the City of Worcester, we need to address the 3 biggest financial issues that face the City of Worcester.

 

1) Unfunded pension obligation estimated to be over $400 million link to column

2) OPEB (Other post employment employee benefits) liability be over $600 million, City of Worcester presentation

3) Disappearing commercial tax base

OPEB ELEPHANT

 

 

Some good news for you today!!!    Read Nick K’s column, the City of Worcester plans to put $1.396 million of their free cash towards OPEB.   Although it is really a drop in the bucket and far less then the $20 million that it should allocate, it is at least a step in the positive direction.

As much as the City of Worcester did not belong in the airport business, we do not belong in the Convention Center, golf or train station buiness.  We should privatize these assets and allocate proceeds to address these three issues.