Laserfiche WebLink
Approval to Pre -Pay the City's Safety Plan Unfunded Actuarial Obligations <br />June 4, 2019 <br />Page 2 <br />STRATEGIC PLAN ALIGNMENT <br />Approval of this item assists the City in meeting Goal #4, - City Financial Stability, Objective #1 — <br />(maintain a stable, efficient and transparent financial environment). <br />FISCAL IMPACT <br />The proposed FY19-20 budget includes an assumption that the City will make the pre -payment, <br />resulting in an estimated net savings of $629,558 ($806,502 savings, less approximately $176,944 <br />reduced investment income). The contribution to reduce the unfunded liability is a General Fund <br />expenditure. <br />Accounting Unit 01105020-61103 for police - $15,081,258 <br />Accounting Unit 01105020-61104 for fire - $7,563,274 <br />APPROVED AS TO FUNDS AND ACCOUNT: <br />Kathryn D�CPA Tyv\, <br />Executive Director <br />Finance and Management Services Agency <br />ZFWX l <br />75A-3-2 <br />