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More Money Toward City Pensions? Not So Fast, Say Budgeteers

More Money Toward City Pensions? Not So Fast, Say Budgeteers

Photo: Newsradio WTAX

Some Springfield aldermen want to take a budget windfall and put it toward police and fire pensions, but city budgeteers are advising against it at the moment.

The city had a more than $2 million surplus in its PILOT fund, which stands for Payment in Lieu of Taxes, at the end of last fiscal year. It’s there to collect wholesale profits and money that would otherwise go toward franchise and other fees it doesn’t have to pay as a municipal entity.

Budget Director Bill McCarty supports the idea with a caveat.

“We just ask for this discussion to move to the end of the fiscal year to see how things shake out,” McCarty said. “We might get lucky, but if we have another winter like we had last year, we might see that PILOT come back around.”

McCarty says a pending bill from the EPA to clean up toxic waste on Factory St., plus a new fire engine at $640,000, could eviscerate the $2 million.

Ward 7 Alderman Joe McMenamin says he’ll update it next week to make only $1 million go toward the funds.

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