File Photo
Hopkinsville Mayor Carter Hendricks took to Facebook Live Wednesday morning to address increasing pension costs for the city and what the General Assembly can do to help.
The mayor says the recently approved city budget for the upcoming fiscal year includes an additional $498,000 in pension obligations and a total increase is $3.3 million over the next five years.
He says unless the General Assembly takes action to assist local governments, the costs will inevitably be passed along to taxpayers.
Even with the challenge of an increased pension burden on future budgets, Mayor Hendricks says the city must continue to invest in itself.
The Pension/Future Funding Committee was recently created by City Council and under the leadership of Chairman Wendell Lynch will look at ways to address the pension issues.
Mayor Hendricks says the General Assembly could help by finding new revenue sources and by looking at changes for new hires entering the pension system.
https://www.facebook.com/HendricksForHoptown/videos/627243631105369/