Bigger Cities Join in Abnegation
ab·ne·ga·tion (#b.n2-g"ZshMn) n. Self-denial.
Sacramento is facing a budget shortfall of $48 million to $58 million next fiscal year. The city's general fund budget is about $450 million.
Under the city's proposed "voluntary separation program," full-time employees with at least five years of continuous city service are eligible, with priority given to workers who have been at the city for 10 years or more. The city is offering one week of pay for each year worked, but the amount cannot exceed $50,000.----
...To pay for the buy-outs, the city will us up to $7 million from its reserves, according to the report. The city anticipates it will save up to $13 million in the first year and $20 million in future years.
Source: Sacramento Bee
Draw down the reserves $7m to save $13m. Here's an idea; lay them off. Be sure to read the responses.