(Scranton, Pennsylvania) – Mayor William Courtright announced that the City of Scranton has made its full Minimum Municipal Obligation (MMO) payment into the pension system on-time for 2015.
“2015 has been a year of progress for the City of Scranton. Many of the initiatives we have undertaken to improve our financial outlook are taking shape and are now beginning to bear fruit. Today I am proud to announce that we met our obligation to the pension system and made a full pension payment on-time for 2015.”
“It has been a number of years since the City of Scranton has had the ability to make a timely MMO payment to the pension system. My administration has made a commitment to responsible budgeting, creating enduring reforms and building a strong financial foundation from which we can grow.”
“This progress would not have been possible without the great team we have assembled, whose work has been central to making the full, on-time MMO pension payment this year.”
“As I always say, we still have a lot of work to do, but this marks a significant step forward for the City. We are happy to be moving into 2016 on a very positive note.”