Aside from “pension,” no words better encapsulate the city of San Diego’s financial crisis than “audit” and “bonds.” As the Union-Tribune is reporting, the city’s audits and bonds are again being delayed. But this time, the supposed fix to San Diego’s financial management problems — a new $50 million computer system — is the problem.
From the U-T/Watchdog Institute:
Significant problems with a new $50 million computer system are preventing San Diego from balancing the city’s books, officials acknowledge, and the delay has stalled refinancing of bonds that were to save millions of dollars.
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