S.D. Oversight Monitor: We’re on Track
Tuesday, March 6, 2007
The city has paid out more than $30 million already to consultants hired to help them get out of the legal and financial pension deficit mess. Stanley Keller is the latest. The previous consultants recommended the city hire a monitor to report back to the Federal Securities and Exchange Commission.
Keller told council that -- by pure coincidence -- his first month's legal and financial expenses are exactly what was budgeted.
Keller : It just happened to hit right on line, so I can say with confidence we're on track. So while I didn't put this in writing, my goal and hope is that -- indeed the total cost will come in below what's been budgeted.
The mayor has budgeted $4 million for the Independent Monitor over three years. Keller is overseeing the oversight systems, under the city's financial reforms. Alison St John, KPBS news.
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