Mayor Sanders is expected to brief the City Council today on the status of an investigation into the pension scandal. The council has spent more than 17 million dollars looking into why the city failed to properly disclose the debt to investors.
The under funding of the pension system has led to a deficit of $1.4 billion dollars. An audit of the city's finances cannot be done until a report by Kroll is completed. Without the audit San Diego can't borrow money on the public bond market.
