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— Quincy Massachusetts News by Quincy Quarry News – News, Opinion and Commentary.
Long parked and thus not plowing snowplow
Quincy Quarry News Citizen Photojournalist image
Last Sunday into Monday’s Bombogenesis blizzard covered Quincy with even more snow even if less than did Winter Storm Fern in the final days of January.
Even so, local officials opted for three snow days before reopening local schools in the wake of last week’s school vacation week whereas there was only one snow day declared after much snowier Winter Storm Fern four weeks ago.
Similarly, local streets are still iffy days after the Blizzard of 2026 in spite of near perfect conditions for clearing away snow after storm..
Melting but still blocking a lane of traffic
A Quincy Quarry News exclusive image
Further problematic, City of Quincy snow clearing costs are currently running 260% over budget as of Friday and will be running run even more over budget once all of the bills are duly paid.
In terms of dollars, snow removal to date is running just short of $3 million over budget and a bit over $5 million in total with even more sure to follow as Blizzard of 2026 expenses are duly accounted along with any possible further snowfall.
While admittedly pro forma calculations, the quants on Quincy Quarry News’s financial and other affairs desk suspect that total snow removal spending will run upwards of $4 million or so over budget and surely at least $6 million in total with even more yet overbudget possible.
And for the dirt of the week, at the Quincy Retirement Board’s meeting this week the board voted to boost its Discount rate.
Increasing the Discount rate is significant as the rate is used to project what is needed to cover city pension obligations.
Rolling the dice …
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Further, increasing the rate up from a prudent 6.5% to 7.25% with the new higher rate among the 16% highest municipal pension fund discount rates in Massachusetts.
Such a boost in the Discount rate is a problematic endeavor as it juices projections of the future growth in value of the pension fund and so reduce the current projected shortfall in the actuarial funding of city employees’ pensions.
In other words, changing the score in the middle of the game when trailing.
Things happen under the table …
A Cassius Marcellus Coolidge image
Trailing way behind.
The boost also seeks to reduces the annual pension funding shortfall assessment which ultimately ends up imposed on local taxpayers to fund a pension fund which is supposed to be fully self-funding via paycheck deductions from city employees’ paychecks.
In short as well as yet again: Only in Quincy© …
