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<br /> Proposed Fiscal Year 2025-26 City Budget, Changes to the City’s Basic Classification <br /> and Compensation Plan, Changes to the Executive Management Team’s Classification <br />and Compensation Plan, Uniform Schedule of Miscellaneous Fees, and the Seven-Year <br />Capital Improvement Program <br />June 3, 2025 <br />Page 6 <br />Pension Stabilization Trust and Annual Prepayment of Unfunded Liability <br /> The proposed budget includes a $1 million General Fund deposit into the City’s Section <br />115 Pension Trust in FY 2025-26. The Trust was created to help fund future increases in <br />pension debt payments. <br />In addition, CalPERS requires the City to make an annual payment toward its Unfunded <br />Actuarial Liability (UAL). The City has the option to either prepay the full amount by July <br />31 at a discounted rate or spread the payments evenly over 12 months. As in the past <br />seven years, the City plans to prepay the UAL in July. The proposed budget includes this <br />discounted prepayment. <br />Annual Reporting of Goals, Key Performance Measures, and Department Highlights <br />Each year, departments provide updates to their Strategic Goals, report on progress <br />toward meeting Key Performance Measures, and highlight key accomplishments. These <br />updates are summarized in Exhibit 2. <br />Workforce Changes <br />Proposed workforce changes include additions, deletions, and reclassifications of <br />positions. Exhibit 1 on pages 24-31 details all of the proposed workforce changes to full- <br />time staff. Two resolutions, the Classification and Compensation Resolution and the <br />Executive Management Team Resolution include compensation adjustments to improve <br />market parity, classification additions and deletions, and title changes. <br />A summary of proposed workforce changes follows: <br /> <br />