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<br />Normal cost <br />Liability amortization <br /> <br />Miscellaneous Plan Increased Costs/(Savings) <br />$2,370,719 $2,286,195 (84,524) <br />1,186,677 907,615 (279,062) <br />$3,557,396 $3,193,810 (363,586) <br /> <br />6.10 <br />Page 3 <br /> <br />As can be seen by the preceding comparisons, as a result of this change the costs of the <br />City's safety plan will decrease almost $1 million while the costs of the City's miscellaneous <br />plan will decline about $400,000 for a total of$1.4 million. This decrease in costs is one of <br />the primary reasons staff has been able to recommend that the Council not make any <br />reductions to the FY 2006/07 general fund budget. The trade-off to these savings is that <br />the portion of the City's liability at PERS will be reduced, or paid off, over a less certain <br />period of time or might not be paid off at all. <br /> <br />The City does have the option of sending funds to PERS at any time beyond the amounts <br />PERS requires. Should the Council desire to do so, a decision must then be made as to <br />the source of such funds, reserves, expenditure reductions, or from a new as of yet to be <br />defined revenue source. <br /> <br />fy1P~ <br /> <br />Brian Panty <br />Director of Finance and Financial Planning <br /> <br />/'. <br />",/' i <br />/ ,/ ,'¡ <br />/ : / f' <br />( f.~"""! !d' , <br />1/ // <br />) ,. ?:(' ,¡ "/.., <br />/ /FW V(/"v¿'" <br />(..h" <br />Edward Everett <br />City Manager <br /> <br />3 <br /> <br />