Yesterday we reported that new government accounting standards revealed a projected $400,000 unfunded pension liability at the Bighorn-Desert View Water Agency. At last night’s meeting of the Twentynine Palms Water District, directors learned that district’s potential liability for unfunded pensions was more than triple the Bighorn figures. Reporter Mike Lipsitz explains …
Last night in Twentynine Palms, the Water District’s audit report for fiscal 2014-2015 revealed a potential unfunded pension liability in excess of $1.3 million. The figure is manageable if the district takes action to shrink that liability in the coming years. Also last night, directors awarded local Van Dyke Corporation a $1.1 million contract for construction of a third evaporation pond. Turning to the district’s state mandated conservation measures, Twentynine Palms is achieving only half of the 28 percent reduction goal. Under fire department business, directors proclaimed this Sunday, November 1, as “Change Your Clock, Change Your Battery Day.” In his report, Chief Jim Thompson reported 629 diners turned out for the October Pancake Breakfast Fundraiser, netting the department $2,000 after expenses.
TWENTYNINE PALMS WATER FACES $1.3 MILLION IN UNFUNDED PENSION LIABILITY
