Richmond Public Utilities is facing staff vacancy rates higher than 50% in some areas of its department, Director April Bingham revealed during an Audit Committee meeting at City Hall.
SOLUTIONS 30: Solutions 30: MARKET INFORMATION AND RESUMPTION OF TRADING ON MONDAY, MAY 24, 2021
MARKET INFORMATION AND RESUMPTION OF TRADING ON MONDAY, MAY 24, 2021
During the Audit Committee meeting held on May 20, 2021, EY, Solutions 30 s auditor, informed the company that it was not in a position to express an opinion on its 2020 financial statements, without however submitting its final report which incorporates the basis of this impossibility to express an opinion. At the time of this press release, the final audit report was not available.
In the meantime, the Supervisory Board meeting on May 20, 2021, took note of EY s position and
confirmed the main 2020 financial aggregates, already communicated on April 28, 2021, which remain unchanged:
Funding for Springfield’s ‘precarious’ pension system ticks upward
Updated 5:13 AM;
SPRINGFIELD An audit of the city’s finances still finds the retirement fund in “precarious” condition, and it remains the worst-funded public pension system in Massachusetts, but city officials took solace in a newly reached milestone.
Powers & Sullivan LLC, of Wakefield, reported Wednesday that the city’s pension system is 30.2% funded, surpassing the 30% mark for the first time in recent years. This was based on valuation data as of Jan. 1, 2020, and compares to 27.2% two years earlier.
City councilors, after hearing the latest audit report this week, said Thursday they are glad there has been progress.