Council is inching ever so slowly to arriving at some decisions to deal with the 150-million dollar shortfall in the civic pension fund. And the actual financial impact could mean the city will contribute more than 20-percent of the payroll to fund that deficit — something Councilor Bill Farren says means one of two things — a tax increase or a cut in the level of services provided by the city in order to cover the shortfall over a fifteen year period.Council is asking for a report from the Finance Commissioner to see if those levels are feasible — the pension board is also being asked to provide updated financial information to consultants Morneau Sobeco so they can update projections associated with a series of suggestions to deal with the deficit.
