The city wants to raise our taxes as you all know.
Jerome Stocks wrote a letter to the North County Times back in March declaring that city finances are hunky dory.
Also, unlike the city of San Diego's retirement system, ours is actuarially sound and fully funded at recommended rates. We participate in the California Public Employees Retirement System, the largest pension system in the nation, and each year our portfolio is evaluated and actuarially rated to ensure proper funding.
Mark Twain popularized the saying: "There are three kinds of lies: lies, damn lies, and statistics." Your editorial ignores some basic facts about Encinitas' proposed compensation agreement and the city's fiscal health:
# Encinitas has nearly 20 percent cash reserves, and we've increased them since the year 2000.
# Encinitas has no pension-related debt or bonds.
# The employees will receive raises of 3.2 percent, roughly the rate of inflation.
# The employees, not the city, will assume the lion's share of the increased cost of the pension plan enhancement.
# Changes were made to the employee medical benefit that will help offset the city's small portion of the pension enhancement costs in future years.
If the city has so much money why do our taxes need to be raised? Here is an e-mail I received, maybe you got one as well:
As many of you know, the City of Encinitas will be conducting a mail ballot in January through March to determine the city's right to collect the $5 monthly "clean water fee".
The Encinitas Taxpayers Association is hoping to send out flyers opposing this tax increase, but cannot do so until it has sufficient funds.
There are many reasons to support the Taxpayers Association. Many of us don't like taxes. Also, it goes without mentioning that the Taxpayers Association was a huge factor in the defeat of proposition A. In my view, the best reason is the fact that our City Council seems entirely out of touch with our needs and the needs of our city. The City Manager, City Attorney and all city employees got big salary and benefit increases earlier this year. At the time, Jerome Stocks wrote a commentary in the North County Times saying how well the city was doing financially. But now we need a tax increase (supposedly). I think defeating this tax will help send a message to the Council and empower the Taxpayers Association, which appears more dedicated to protecting our interests than the city council.
I will be sending the Taxpayers Association $100 to assist its efforts to oppose this tax. I hope you can help too.
The address for donations is Encinitas Taxpayers Association, P.O. Box 46, Cardiff CA 92007
Please ask your friends and acquaintances to help.