- Property Crime Hits Top City Official
- State Backed Hotel to Miss More Payments
- State Medevac Choppers Flew 136 Promotional Missions In 2013, Costing Over $220K
- Dueling Bills Over Speed Camera Fallout Reveal Divided Council
- Mayor: Media 'Beating a Dead Horse' on Speed Camera Ticket Errors
- Baltimore City Councilman: Subpoena Vote a 'Whitewash'
- Date Set For Speed Camera Subpoena: Council Will Not Rule Out Calling Mayor To Testify
- As Speed Camera Investigation Vote Looms, Council Remains Silent
- Baltimore City Inks Second Secrecy Clause with Speed Camera Vendor
- State Releases Maryland Heath Exchange Salaries, Totaling Millions
- Hidden Deficit Threatens Baltimore City Finances
- Baltimore City To Drop Speed Camera Bounty System
- Baltimore Mayor Calls Police Action a 'Delicate Balancing Act'
- Lawyer Blasts Report On In-Custody Death of Anthony Anderson
- Delegate Calls For Ethics Probe Of Baltimore County School Chief
- Panel's Sanction Of Police Tactic Under Scrutiny
- Police Say Rumors of 'Knock Out Game' Assault in Inner Harbor Are False
- Mayor: Departing Corrections Chief Maynard Should Be 'Proud' Of His Work
- Baltimore City Ranks Fourteenth Highest in Nation For Tax Lien Sales
- City Police Memo Details Off-Duty Gun Ban At Ravens Stadium
- Price Tag To Transition To New Medevac Helicopters Continues To Grow
- Council Seeks to Eliminate Criminal Records from Job Applications in Baltimore City
- Multi-County Symposium on Speed Camera Policies, Best Practices Closed to the Public
Hidden Deficit Threatens Baltimore City Finances
Updated: Monday, December 23 2013, 10:06 AM EST
A little known and rarely discussed unfunded liability poses a threat to Baltimore's fiscal health. And it's a debt which is often hard to predict and could worsen in the future.
City officials revealed Friday the city is on the hook for an estimated $146 million in projected unfunded workers compensation claims. That's money for injuries which occur on the job which often lead to extra healthcare costs and compensation for lost wages.
Finance officials briefed the council on the looming expense at a hearing earlier this month, listing it as one of several fiscal threats that could pose problems for taxpayers down the road.
The project expense adds to a long list of mounting liabilities that could tax city finances in the future, including growing pension costs and future healthcare benefits for retirees.
Still, mayoral spokesman Kevin Harris says Baltimore's workers comp bill is not atypical.
"The size of the deficit is not unusual for a city of Baltimore's size," Harris wrote in an email. "On an annual basis, the City budgets for the projected costs for claims that are expected to be paid during that fiscal year. This is commonly referred to as pay-as-you-go funding, and is typical for risk management fund."