Police buyout won’t save money this year

YOUNGSTOWN — Though the financially struggling city is reducing its police force by six through an early-retirement offer, it won’t save any money this year, its finance director said.

There is the possibility the buyouts could cost the city more money than it will save this year. The city is looking to make up a projected $1.15 million shortfall in its general fund in 2009.

The city will save nearly six months’ salary as well as health care premiums, retirement contributions, overtime payments and other expenses for the six officers for the rest of the year, Finance Director David Bozanich said. But that amount will be wiped out by the severance packages the officers will receive for unused sick and vacation time.

“We’ll be close to break-even” this year, Bozanich said today after the board of control approved the early-retirement buyout for the six. “This does nothing to solve our 2009 budget.”

Calculations for the severance packages are being done and should be finalized shortly, he said.

Beginning in January 2010, the buyout of the six police officers will save the city about $500,000 annually, Bozanich said. The city doesn’t plan to replace the officers in the foreseeable future, he said.

Layoffs “are a probability” this year, Bozanich said. “We don’t see another option.”

For the complete story, read Thursday’s Vindicator or Vindy.com