Analysis & Insights: The Bigger Picture

A review of the City of Somerset’s audits from FY 2021–FY 2024 shows a cumulative decline of approximately $17.2 million in combined net position, driven largely by long-term pension and retiree benefit accounting requirements, rising operating costs, and ongoing structural pressures, not by a single year of cash losses.

By Staff Reporter | Somerset-Pulaski Advocate

By Michael R. Grigsby, Editor | Somerset-Pulaski County Advocate

By Michael R. Grigsby, Editor | Somerset-Pulaski Advocate

BY: TOM LOFTUS -Kentucky Lantern 

by Staff Reporter, (SPA)

Compiled and written by SPA Editor

By Michael R. Grigsby, Editor | Somerset-Pulaski Advocate                                                                                                                                                                                                                                                                                                    

by Michael R. Grigsby, Editor, (SPA)

Editor: Michael R. Grigsby