Common Council discusses insurance overruns

By Ashley M. Casey

The Common Council’s budget workshop, scheduled for today, Feb. 8, has been canceled.

Mayor Ronald L. Woodward discussed the workshop’s only agenda item — the 2013 health insurance overrun — at the Feb. 4 Common Council meeting.

Woodward told The Valley News the city’s spending on health insurance ran over by $512,000 last year.

“It put us into deficit spending,” he said. “We’ve got to go through the accounts and cover that spending.”

The mayor said the city’s financial consultants predicted a surplus of $500,000 in October 2013.

“Two months later, we ended up with a deficit,” Woodward said. “You can’t predict who’s going to get sick.”

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