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6.A. - Page 85 of 114
<br />APPENDIX A - Data on Each City's Pension Costs for Four Years from FY 2014-15 through FY 2017-18
<br />The column below that reflects the most immediate impact on the Cities is "Contribution Cost" as this sets out
<br />the total pension costs paid each year and shows the rate at which it has, in most cases, increased each year. The
<br />other column that is particularly useful to understanding the impact of pension costs on the Cities' budgets is
<br />"Contribution Cost as % of General Fund Spending" as this shows the relative size of pension costs in
<br />comparison to the overall general fund budget.
<br />Note: Except as noted in this note, all information in Appendix A is derived from the Cities' "Comprehensive
<br />Annual Financial Reports" (or "Basic Financial Statements," or "Annual Financial Reports" in the case of the
<br />Towns of Atherton, Colma, Portola Valley and Woodside). Certain of Daly City's, East Palo Alto's and Foster
<br />City's numbers are based on correspondence from those Cities received in June, 2019.
<br />(All dollar numbers in thousands.)
<br />CITIES
<br />Fiscal
<br />Year
<br />Covered
<br />Payroll
<br />Pension
<br />Contribution
<br />Cost
<br />Contribution
<br />Rate (i.e.,
<br />Pension
<br />Contribution
<br />Cost as % of
<br />Payroll)
<br />Unfunded
<br />Liability
<br />Funded
<br />Percentage
<br />Unfunded
<br />Liability if
<br />Discount
<br />Rate is
<br />Reduced
<br />1%
<br />General
<br />Fund
<br />Spending
<br />Pension
<br />Contribution
<br />Cost as % of
<br />General
<br />Fund
<br />Spending*
<br />Atherton
<br />2017-18
<br />$4,649
<br />$1,289
<br />27.7%
<br />$16,122
<br />72.9%
<br />$24,391
<br />$12,065
<br />10.7%
<br />2016-17
<br />$4,327
<br />$1,155
<br />26.7%
<br />$13,982
<br />73.8%
<br />$21,344
<br />$11,437
<br />10.1%
<br />2015-16
<br />$4,261
<br />$617
<br />14.5%
<br />$10,674
<br />78.5%
<br />$17,326
<br />$10,611
<br />5.8%
<br />2014-15
<br />$3,988
<br />$826
<br />20.7%
<br />$9,253
<br />81.9%
<br />$16,088
<br />$11,622
<br />7.1%
<br />Belmont
<br />2017-18
<br />$15,773
<br />$3,927
<br />24.9%
<br />$37,312
<br />73.3%
<br />$55,262
<br />$19,450
<br />20.2%
<br />2016-17
<br />$15,209
<br />$3,582
<br />23.6%
<br />$32,835
<br />72.0%
<br />$48,680
<br />$18,344
<br />19.5%
<br />2015-16
<br />$14,613
<br />$4,191
<br />28.7%
<br />$26,626
<br />76.2%
<br />$41,855
<br />$16,800
<br />24.9%
<br />2014-15
<br />$12,701
<br />$2,262
<br />17.8%
<br />$25,067
<br />79.8%
<br />$39,412
<br />$16,777
<br />13.5%
<br />Brisbane
<br />2017-18
<br />$8,111
<br />$1,906
<br />23.5%
<br />$21,118
<br />73.4%
<br />$32,231
<br />$17,544
<br />10.9%
<br />2016-17
<br />$7,916
<br />$1,713
<br />21.6%
<br />$18,227
<br />78.6%
<br />$27,989
<br />$15,521
<br />11.0%
<br />2015-16
<br />$6,880
<br />$883
<br />12.8%
<br />$13,952
<br />79.9%
<br />$23,410
<br />$14,850
<br />5.9%
<br />2014-15
<br />$7,023
<br />$1,174
<br />16.7%
<br />$12,074
<br />82.2%
<br />$21,119
<br />$13,247
<br />8.9%
<br />Burlingame
<br />2017-18
<br />$20,598
<br />$5,718
<br />27.8%
<br />$65,912
<br />72.1%
<br />$97,834
<br />$53,637
<br />10.7%
<br />2016-17
<br />$19,753
<br />$5,294
<br />26.8%
<br />$57,694
<br />73.4%
<br />$86,051
<br />$49,707
<br />10.7%
<br />2015-16
<br />$18,232
<br />$4,615
<br />25.3%
<br />$46,987
<br />77.8%
<br />$75,062
<br />$47,459
<br />9.7%
<br />2014-15
<br />$17,671
<br />$3,894
<br />22.0%
<br />$41,762
<br />80.1%
<br />$69,042
<br />$44,405
<br />8.8%
<br />Colma
<br />2017-18
<br />$4,346
<br />$1,264
<br />29.1%
<br />$10,682
<br />73.3%
<br />$15,961
<br />$14,683
<br />8.6%
<br />2016-17
<br />$4,031
<br />$1,048
<br />26.0%
<br />$9,449
<br />74.2%
<br />$14,008
<br />$13,323
<br />7.9%
<br />2015-16
<br />$3,749
<br />$937
<br />25.0%
<br />$7,747
<br />74.7%
<br />$11,969
<br />$13,410
<br />7.0%
<br />2014-15
<br />$3,604
<br />$939
<br />26.1%
<br />$6,891
<br />76.1%
<br />$10,724
<br />$12,948
<br />7.3%
<br />*Note: Contribution Cost amounts in Comprehensive Annual Financial Reports may include pension costs paid on account of certain employees whose activities are not
<br />accounted for as part of General Fund activities, and their pension costs would, therefore, not be included in General Fund total expenditures. As a result, the percentage
<br />of General Fund Spending in Appendix represented by Pension Contribution Costs may somewhat overstate the percentage represented by General Fund pension costs.
<br />Some experts have estimated that this might result in an overstatement of the percentage by 10 - 30 percent, such that a Contribution Payment as a % of General Fund
<br />Total Expenditures of 10 percent might actually be somewhere between 7 and 9 percent.
<br />2018-19 San Mateo Civil Grand Jury Appendix A-1
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