Wrong again, but it doesn't matter - you are missing the point. The POINT is that the City lies to the residents, the staff lies to the Council, the Council lies to the voters, and the Management lies to the employee's. It's rampant - it's so ingrained people don't even think before they do it - but instead of being concerned about THAT, you are all tied up in who dares speak ill of the situation. The problem is clear - but your perception is tainted.

"but I haven't worked for the City in years". I get it. Disgruntled worker, probably RIF'd a few years ago.

La Cucaracha:

I'll stand corrected. According to the IMRF's Detailed report for 2010, the plan's actuarial funding level is 83.3% (page 39 of the report.)

That said, the trajectory is still negative, although not as bad as my earlier post indicated. Again, from the IMRF's most recent report, page 39, 10 years ago the funding level was 106.4%, today only 83.3%.

One final point, the funding level is based upon a number of assumptions,. including investment returns of 7.5% per year. A lot of plans use rates of return in that ballpark, but the IMRF has not obtained that return for a long time. For the last 10 years, the rate of return has been 5.4% (page 51 of the 2010 report) Since 1995, the return has been closer to 9%, but a lot of smart people don't see a return to those rates in the foreseeable future. If the plan was revalued at a 6% rate of return, the funded ratio would be frighteningly low.

So, I apologize for not having the correct data, but I stand by my observation that the plan's trajectory is poor and I question the wisdom of planning for a 7.5% rate of return.

I'll be glad to update my research -- perhaps you could save me some time and provide your source for the 86% funded number? Thanks in advance. Believe me, as a taxpayer, I hope that you are right and I am wrong.

Sam,

According to IMRF, the actual pension fund, not the City, the fund is 86.3% funded. I can't help it that the City hasn't done their research. Maybe you should take your own advice and update your own research?

That is where some of them, most likely you, belong - but I haven't worked for the City in years. Nothing to gain, nothing to lose, just think it might be nice if someone over there tried telling the truth instead of creating the reality they want to see so they can justify their unethical actions. What's really sad is that the dishonesty has become so ingrained, some of you honestly believe you are justified in your self promoting actions.

So let's guess which department you might be in, since "not a sole onsite". What a bunch of BS, you think you have it allll figured out, trying to discredit the city you work for.

People like you shouldn't be allowed to work for the city, you are toxic and uninformed, making stories up. A real audit, an independent audit, is conducted every year, they are given free reign of the books. If they ever found anything like you claim they are hding, someone would be going to jail.

DoRight asked:

Is this the same "John Q. Public that posts messages on the napergate.com blog site???

No, that is not me.

Not a soul on site - if someone audits the figures the City feeds them, then that's a waste of time.

Police and Fire?

IMRF is 86.3% funded.

"Get an INDEPENDENT audit of this Cities books - what they report is beautiful, and supports whatever position they want to sell at the moment - but that doesn't make it the truth, "

An INDEPENDENT audit is done every year, if you really knew anything about anything. Sikich is the auditing firm that is almost done with the audit for last FY...

No they don't, and they shouldn't, but they should care about the debt these guys pile up while claiming to be broke.

I get that none of their underhanded behavior matters with their bond rating, but it sure would be nice if it mattered somewhere.

Everything you say may be true, but none of it is evidence of Naperville having a long running budget deficit. All Moodys is concerned with is that Naperville meets it's obligations every year without resorting to creative accounting and, will likely be able to continue to do so. Moodys doesn't really care about layoffs, benefit reductions and service cutbacks.

Naperville balances it's budget on the backs of those with the smallest voices each ad every year for the past 4 at least. It's predictable at this point. They patted themselves on the back for balancing the budget without raising taxes right before the elections. True, they didn't raise property taxes, but they did put in a gas tax, and fee's, and a thousand other little charges that add up .... but still, they think they are thrifty.

They borrowed millions to pay for the Smart Grid, which they could have had anyway without borrowing since it was budgeted over the next several years, but they consider themselves brilliant for that. Go figure.

Now ... all this time they are talking about the crushing shortfall they are facing over the next several years. Why? BECAUSE, if they have money they have to provide services, they can't raise fee's, and they have to pay the people that work for them. The crying over how they are millions short for fiscal year 13 will start around August or September - but it won't stop them from spending whatever they want on whatever pet project they decide is to benefit themselves or their friends. My October they will be discussing service cuts, staffing cuts, pay cuts etc.... but "working real hard" to avoid that, and be oh so worried that they might have to raise taxes or fee's.

By January, the axe will fall again, we will again be sacrificing services, seeing fee's raised, watching people lose their jobs (that is always so good for the economy in the City isn't it?). By March, they will again be telling themselves how wonderful they are for coming out of this terrible crisis - and awarding themselves with very GENEROUS bonus's. AND then it all begins again.

Break the cycle, bring in some ethical honest management - elect some people who have a clue what it is like to be an average citizen, or at the very least care about them (believe me, the people on the council now couldn't care less).

Get an INDEPENDENT audit of this Cities books - what they report is beautiful, and supports whatever position they want to sell at the moment - but that doesn't make it the truth,

Since when does Naperville have a long running budget deficit?