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<p>WILKES-BARRE &#8212; City council scheduled a special meeting for next week to hear from the consultant working with the administration to put in place a plan to improve city finances.</p><p>At the March 30 public meeting, representatives of The PFM Group will discuss the options available to the city that&#8217;s participating in the state&#8217;s Early Intervention Program, which is designed to assist struggling municipalities with short-term and long-term solutions to their financial problems.</p><p>Mayor Tony George has repeatedly warned of deficits caused by unrealistic revenue projections in past budgets and growing expenses for the city&#8217;s debt service and pension obligations. In his first year in office last year, George asked for help from the state to enter the EIP and prevent the city from being declared financially distressed under Act 47. With $15,000 of its own funds and a $60,000 state grant, the city hired PFM to start the review process and chart a course for financial stability.</p><p>The meeting next week is one step in PFM&#8217;s process of developing a multi-year plan for the city. It&#8217;s already made several presentations to council.</p><p>In December, a PFM representative discussed the city&#8217;s financial condition, and returned earlier this year with a plan to restructure debt and issue bonds to pay for the wall repairs. Council asked PFM to come back to present other options.</p><p>One of the options met council&#8217;s approval, and it passed the first of two readings by a 3-2 vote. It involves restructuring a portion of the city&#8217;s $86 million debt service for two years and issuing $5.5 million in bonds for Solomon Creek.</p><p>&#8220;I believe council is going to wait until after we have the special meeting on March 30,&#8221; council Chairwoman Beth Gilbert said of when the next vote will occur. Council meets again on April 6.</p><p><ins>For other local news stories, <a href="https://www.timesleader.com/category/local" target="_blank">click here</a>.</ins></p><style>
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<div class="metaInfo"><bylineMeta><p>By Jerry Lynott</p><p>jlynott@www.timesleader.com</p></bylineMeta></div><div class="metaInfo"><factboxMeta><p><strong>IF YOU GO</strong></p><p><strong>What:</strong> Wilkes-Barre city council has scheduled a special meeting on a &#8220;Presentation and Discussion of PFM&#8217;s Early Intervention Program, Menu of Options&#8221;</p><p><strong>When:</strong> 6 p.m., March 30</p><p><strong>Where:</strong> City Hall, 40 E. Market St., Wilkes-Barre, fourth-floor city council chambers</p></factboxMeta></div><div class="metaInfo"><shirttailMeta><p>Reach Jerry Lynott at 570-991-6120 or on Twitter @TLJerryLynott.</p></shirttailMeta></div>

Consultant to discuss Wilkes-Barre’s finances at special meeting next week