AgdaPkt 2019-10-14 Joint SA PFA - Laserfiche WebLink

Browse Search

6.A. - Page 83 of 114 RECOMMENDATIONS R 1. Each City include in its published annual or bi-annual budgets a general fund operating budget forecast for the next ten fiscal years. R2. Each City include a report in its published annual or bi-annual budgets specifically setting forth the dollar amounts of its annual pension costs paid to Ca1PERS. The report should include the following: a) The City's total pension contribution costs under all plans, for each of the three preceding fiscal years as well as estimates for such costs in each of the following ten fiscal years (whether developed by City staff internally, or by outside consultants to the City), assuming Ca1PERS' actuarial assumptions are met. b) The City's total Unfunded Liabilities under all plans, for each of the three preceding fiscal years as well as estimates for such Unfunded Liabilities in each of the next ten fiscal years, (whether developed by City staff internally, or by outside consultants to the City), assuming Ca1PERS' actuarial assumptions are met. c) The City's Funded Percentage across all plans, for each of the three preceding fiscal years as well as estimates for such Funded Percentages in each of the next ten fiscal years, assuming Ca1PERS' actuarial assumptions are met. d) The percentage of the City's general fund expenditures, and the percentage of the City's covered payroll, represented by the pension costs described in (a) above (using estimates of general fund expenditures in future fiscal years). REQUEST FOR RESPONSES Pursuant to Penal Code Section 933.05, the Grand Jury requests that each of the following respond to the foregoing Findings and Recommendations referring in each instance to the number thereof: • The Town of Atherton • The City of Belmont • The City of Brisbane • The City of Burlingame • The Town of Colma • The City of Daly City • The City of East Palo Alto • The City of Foster City • The City of Half Moon Bay • The Town of Hillsborough • The City of Menlo Park • The City of Millbrae • The City of Pacifica • The Town of Portola Valley 2018-2019 San Mateo County Civil Grand Jury 76 87