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Council reviews sewer-fund transfers to cover retiree and health costs
Summary
Comptroller Chuck Robinson told the council transfers from the sewer fund fund balance are needed to cover underestimated retiree contributions and higher health insurance and electricity costs.
Binghamton City Council members heard an explanation Monday about transfers from the sewer fund to cover higher-than-expected retiree and health-insurance costs and some electricity bills.
Comptroller Chuck Robinson said an analysis showed several sewer-fund budget lines would be overdrawn by year-end. Robinson told the council the lines in question include retiree contributions and regular health-insurance accounts; the city had miscalculated…
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