Archive for May 2018

Irresponsible budgeting?

Posted  May 23, 2018, on Seventh State: And next year is already projected to see a $76.8 million shortfall after this year’s shortfall, which was over $100 million. Suppose you were an elected official reading that information.  What would you do?  Perhaps you might say, “Wow, things are kind of tight.  We need to cut…

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Questions for meeting of May 16, 2018

Topic:  “WSSC and its Financial Future” Speaker:  Joe Beach, Chief Financial Officer, WSSC                          Free and open to the public The following questions have been sent to the speaker in advance of the meeting: 1.  What criteria does WSSC use in its decision-making process given the need for new pipes, old pipe repair and replacement,…

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County Council gives preliminary approval to 4.5 % WSSC rate increase

From the Bethesda Beat article posted May 7, 2018: “On Monday, the Montgomery County Council gave preliminary approval to a 4.5 percent rate increase requested by the Washington Suburban Sanitary Commission in its proposed fiscal 2019 budget.  If the budget is formally approved Thursday during a joint meeting of the councils of Montgomery and Prince…

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Md. Pension Fund Lost Out on $8.8 Billion in Retiree Income

From a new report by the Maryland Public Policy Institute: “Maryland state pension managers lost out on nearly $9 billion in income over the past decade by paying higher-than-average investment fees to Wall Street managers in exchange for lower-than-average investment returns,…Compared to its peer group states, Maryland lost out on an estimated $5 billion in…

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