To the Honorable Members of the Pennsylvania Senate and House of Representatives who represent ratepayers in the Chester Water Authority service area
RE: Chester Water Authority (“CWA”)
Special Alert – October 26, 2021
DCED’s latest Confession
We have listened to the Act 47 and DCED Teams for 25+ years and look at what they have allowed to happen.
The Receiver’s City of Chester Municipal Financial Recovery Advisory Committee met this afternoon. Most of the meeting concerned the Receiver’s recent status update in which the Receiver disclosed that the City has been significantly over-paying pension benefits for decades. This slide from the meeting is a good summary:
This error in the pension calculation went on for decades. Was it undetected? Or was it purposefully ignored by everyone at DCED and the Act 47 team? At today’s video session DCED’s Kim Bracey acknowledged during the live-stream that DCED/Act 47 team totally missed this.
With all of his consultants why did it take the Receiver 18 months to detect this?
For at least ten years, the principal financial problem for the City has been underfunded pensions. How could this only be detected now?
Again we ask, we have listened to the Act 47 and DCED Teams for 25 + years and look at what they have allowed to happen.
Why should we be listening to them now about selling CWA?
Any questions or comments should be directed to Chester Water Authority. It is best to communicate with CWA via email, email@example.com