Published: April 16, 2008 11:16 pm         

Editorial: Fiscal management

Beckley officials have done it right

Editorial: Fiscal management

Beckley officials have done it right



Opinion: The Register-Herald, Beckley, W.Va.





Earlier this year, the Legislature was considering a bill to revamp municipal pensions for police and firefighters. However, after considerable outcry from rural areas, and more specifically volunteer firefighters, the legislation fizzled.

But the demise of Senate Bill 667 certainly doesn’t signal the end of this movement. In fact, legislators are already tossing about more potential solutions to address the unfunded liability which is reported to exceed $660 million in municipalities statewide.

We agree something needs to be done, but it also should be noted that proper fiscal management is the key component. And the City of Beckley allows us to drive home this point.

At the present time, the police and firefighter pensions in Beckley are both funded at approximately 70 to 75 percent, which is one of if not the highest in West Virginia. A shiny example of proper fiscal planning.

On the other hand, Huntington’s pension plans, which are considered to be in the worst shape throughout the state, are at 3 and 9 percent.

We asked Beckley Mayor Emmett Pugh about this issue back in March and he was very diplomatic when talking about the struggles facing other municipalities like Huntington and Wheeling. Pugh wouldn’t say it was poor handling of finances, even though it certainly appears that way to us.

Beckley was prudent, Huntington and other municipalities were not.

But even though our leaders have been financially responsible, it doesn’t appear as if we the taxpayers are going to benefit from it because the movement is on to increase a surcharge already on our auto and fire insurance policies.

Discussion has also centered around reallocating a portion of another surcharge on those same aforementioned insurance policies to assist both of the pensions plans as well as providing monies for volunteer firefighters as well.

The majority of legislators appear to be in favor of bailing out the ailing municipalities while doing something for the volunteers. In turn, the public needs to demand proper oversight and accountability in the future.

Too bad more places didn’t have elected leaders and qualified personnel practicing due diligence and proper fiscal management like we did Beckley.