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City of Savannah hopes to avoid bankruptcy

Monday, August 29, 2011 | 7:54 a.m. CDT; updated 9:47 a.m. CDT, Monday, August 29, 2011

SAVANNAH — Savannah officials have accepted a new insurance program to help save costs as the city struggles to avoid bankruptcy.

The St. Joseph News-Press reports Savannah city administrator Jill Cornett believes her city might be in the worst financial shape of any community in the state.

On Friday, the City Council accepted a bid that will increase the employee deductible from $1,000 to $2,500 per year. Officials say that will save the city more than $60,000 over the next 12 months.

Mayor Dave Ingersoll is leading an effort to obtain a secondary loan to pay bonds and avoid bankruptcy.

City employees complained about the insurance change but said it's better than having to go out and find new jobs.

 


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