The St. Louis Cardinals' incredible run to the World Series isn't just exciting for baseball fans. It is a little good news for City employees.
"Because of the revenue generated during the playoffs, we are going to postpone furloughs planned for this year," said Mayor Francis Slay.
"We are so thankful that the City employees can also benefit from the post season success of the St Louis Cardinals," said Comptroller Darlene Green.
City officials estimated the seven playoff games have generated almost $2 million in additional tax revenue. Hosting games six and seven of the World Series would add another $900,000.
To help cover rising pension costs and minimize layoffs, the City for the last three years furloughed managers for two weeks, and workers for one week. "We instituted furloughs to save jobs," Slay said. "That spread the pain around. But, it was still pain. Although the future remains cloudy, I am glad that we can lift this burden off of our employees."
That doesn't mean the City is out of the woods. Far from it. If the City does not address its skyrocketing pension costs immediately, next year's budget will be far worse. Plus, it must address deferred maintenance, especially its aging heavy duty truck fleet.
Because the mayor, the comptroller, and others in City government have made tough decisions, the City credit rating has actually improved since he took office-- despite going through two stock market crashes and the deepest recession since the Great Depression. "We must remain fiscally smart and prudent," Slay said.
Office of the Mayor