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6.A. - Page 50 of 114 million in FY 2017-18 (representing 59.6 percent of that year's covered payroll and 15.5 percent of total general fund spending of $28.2 million384), up $1.02 million (30.3 percent) from $3.37 million in FY 2016-17.385 Millbrae projects its pension contribution costs will increase from FY 2017-18 by $2.93 million (88.3 percent) to $6.24 million by FY 2023-24 and by an additional $0.0.377 million (6 percent) to $6.62 million by FY 2027-28.386 From FY 2018-19 through FY 2027-28, the City will pay a total of $13.57 million on its pension obligation bonds, which represents an annual average of approximately $1.36 million .387 Taking bond payments into account, the City's total payments on account of its pensions (Ca1PERS and bond payments combined) will increase from FY 2017-18 by $3.24 million (73.9 percent) to $7.62 million by FY 2023-24 and by an additional $0.602 (7.9 percent) to $8.23 million by FY 2027-28.388 Millbrae's projected pension contribution costs are not included in its FY 2017-18 CAFR, or in its FY 2018-19 & 2019-20 budget .389 The most detailed information about the City's projected pension costs is found in the January 19, 2018 report by the City's actuarial consultant (Bartel Associates, LLC).390 Unfortunately, this report is not made available by Millbrae on its website. The Grand Jury obtained a copy through a direct request to the City. 391 Other pension cost projection information can be found on the City's website by manually searching through City Council meeting agenda packages, which can be accessed at the following website: https://www.ci.millbrae.ca.us/departments-services/city- clerk/city-council-meetingsagendas/-to lgg e-allpast. (Last accessed on June 2, 2019.) That search would eventually lead to the agenda for the November 13, 2018 City Council meeting,392 which references a discussion of "Post Employment Benefit Costs" and has a link next to it entitled "PowerPoint presentation." Clicking on that link leads to presentation slides that include, on slide 30, projected pension costs and annual pension obligation bond debt service amounts. 393 381 Millbrae, Comprehensive Annual Financial Report for the Fiscal Year Ended June 30, 2018, p. 34. Note: If general fund "transfers out" were included as part of general fund expenditures for FY 2017-18, then total expenditures would be $33.64 million and the $4.39 million of total, combined payments on account of pensions would represent 13 percent of general fund expenditures. ass Millbrae, Comprehensive Annual Financial Report for the Fiscal Year Ended June 30, 2017, p. 34. Millbrae, Slide presentation for November 13, 2018 City Council meeting re: Post -Employment Benefit Review, slide 30. Email from Millbrae, dated June 12, 2019. 386 Ibid. 387 Ibid. 388 Ibid. 389 Millbrae, Comprehensive Annual Financial Report for the Fiscal Year Ended June 30, 2018. Millbrae, Operating and Capital Budget for the 2018-2019 Fiscal Year and 2019-2020 Fiscal Year. 391 Bartel Associates, LLC report to City of Millbrae, January 19, 2018. 391 The Grand Jury also received updated annual pension contribution cost and pension obligation bond debt service cost information for FY 2018-19 through FY2028-29 via an email from Millbrae, dated June 12, 2019. 392 Millbrae, Agenda for City Council meeting on November 13, 2018. 393 Millbrae, Slide presentation for November 13, 2018 City Council meeting re: Post -Employment Benefit Review, slide 30. 2018-2019 San Mateo County Civil Grand Jury 43 54