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6.A. - Page 87 of 114
<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 />Millbrae*
<br />2017-18
<br />$7,355
<br />$3,313
<br />45.0%
<br />$48,740
<br />73.3%
<br />$71,117
<br />$28,199
<br />11.7%
<br />2016-17
<br />$6,165
<br />$2,335
<br />37.9%
<br />$42,769
<br />74.1%
<br />$62,676
<br />$25,494
<br />9.2%
<br />2015-16
<br />$5,835
<br />$2,064
<br />35.4%
<br />$34,256
<br />78.4%
<br />$53,883
<br />$22,514
<br />9.2%
<br />2014-15
<br />$6,871
<br />$1,400
<br />20.4%
<br />$28,989
<br />1 79.8%
<br />$47,979
<br />$18,201
<br />7.7%
<br />Pacifica
<br />2017-18
<br />$16,478
<br />$4,091
<br />24.8%
<br />$50,801
<br />76.7%
<br />$80,376
<br />$29,991
<br />13.6%
<br />2016-17
<br />$16,369
<br />$3,740
<br />22.9%
<br />$44,400
<br />77.5%
<br />$70,650
<br />$28,781
<br />13.0%
<br />2015-16
<br />$15,922
<br />$2,749
<br />17.3%
<br />$32,841
<br />82.3%
<br />$56,750
<br />$27,358
<br />10.0%
<br />2014-15
<br />$15,378
<br />$2,739
<br />17.8%
<br />$28,089
<br />84.3%
<br />$52,855
<br />$25,354
<br />10.8%
<br />Portola Valley
<br />2017-18
<br />$1,523
<br />$141
<br />9.3%
<br />$712
<br />89.7%
<br />$1,663
<br />$5,292
<br />2.7%
<br />2016-17
<br />$1,442
<br />$116
<br />8.1%
<br />$524
<br />91.8%
<br />$1,382
<br />$4,361
<br />2.7%
<br />2015-16
<br />$1,072
<br />$84
<br />7.8%
<br />$82
<br />98.6%
<br />$881
<br />$4,303
<br />2.0%
<br />2014-15
<br />$993
<br />$1,019
<br />102.6%
<br />$957
<br />83.0%
<br />$1,706
<br />$5,587
<br />18.2%
<br />Redwood
<br />City**
<br />2017-18
<br />$60,845
<br />$18,409
<br />30.3%
<br />$245,579
<br />64.8%
<br />$341,571
<br />$125,859
<br />14.6%
<br />2016-17
<br />$62,098
<br />$17,722
<br />28.5%
<br />$215,202
<br />65.7%
<br />$298,653
<br />$112,142
<br />15.8%
<br />2015-16
<br />$57,352
<br />$17,363
<br />30.3%
<br />$177,937
<br />70.1%
<br />$257,798
<br />$101,684
<br />17.1%
<br />2014-15
<br />$54,275
<br />$16,467
<br />30.3%
<br />$164,149
<br />71.6%
<br />$240,111
<br />$95,856
<br />17.2%
<br />San Bruno
<br />2017-18
<br />$22,287
<br />$7,176
<br />32.2%
<br />$89,228
<br />70.4%
<br />$130,222
<br />$43,366
<br />16.5%
<br />2016-17
<br />$22,512
<br />$6,344
<br />28.2%
<br />$78,198
<br />70.7%
<br />$114,180
<br />$43,244
<br />14.7%
<br />2015-16
<br />$21,315
<br />$4,434
<br />20.8%
<br />$61,771
<br />75.6%
<br />$96,281
<br />$38,882
<br />11.4%
<br />2014-15
<br />$20,532
<br />$4,979
<br />24.3%
<br />$53,531
<br />78.4%
<br />$86,637
<br />$36,738
<br />13.6%
<br />San Carlos***
<br />2017-18
<br />$11,169
<br />$9,701
<br />86.9%
<br />$50,152
<br />62.6%
<br />$69,070
<br />$42,495
<br />22.8%
<br />2016-17
<br />$11,047
<br />$2,236
<br />20.2%
<br />$47,009
<br />63.3%
<br />$64,530
<br />$33,182
<br />6.7%
<br />2015-16
<br />$10,486
<br />$2,622
<br />25.0%
<br />$40,263
<br />67.3%
<br />$57,293
<br />$41,264
<br />6.4%
<br />2014-15
<br />$13,231
<br />$2,624
<br />19.8%
<br />$35,253
<br />71.2%
<br />$42,824
<br />$29,067
<br />9.0%
<br />*Note: Millbrae notes that its pension payments as a percentage of covered payroll are artificially high because the City has pension liability for public safety
<br />employees (police and fire) but the City currently contracts for services and has no employees in those categories. While the City has no police and fire staff, the City is
<br />responsible for unfunded liability pension costs associated with former police and fire agencies and is also responsible for pension costs associated with employees in
<br />police and fire contracts. Pension spending for Miscellaneous plan employees in FY 2017-18 represented only 29.5% of covered payroll. (Email from Millbrae, dated
<br />June 12, 2019.)
<br />**Note: Redwood City points out that its FY 2017-18 General Fund Spending amount set forth above includes a one-time transfer of $8.8 million to the City's Section
<br />115 pension trust account. If that $8.8 million were excluded from General Fund Spending, then the total amount for FY 2017-18 would drop from $125.86 million to
<br />$117.06 million and Pension Contribution Costs as a % of General Fund Spending would increase from 14.6 percent to 15.7 percent. (Email from Redwood City dated
<br />June 7, 2019.)
<br />***Note: San Carlos points out that its "Contribution Cost" in FY 2017-18 includes $6 million of one-time additional payments it made in excess of its Annual
<br />Required Contribution in order to reduce its unfunded pension liabilities and thus reduce long term pension contribution costs. If this $6 million voluntary additional
<br />payment were not included, then pension contribution costs would represent only 33.1 percent of covered payroll rather than 86.9 percent and only 8.7 percent of
<br />General Fund Spending, rather than 22.8 percent.
<br />In addition, the Grand Jury notes that San Carlos' percentage of covered payroll represented by pension contribution costs is also artificially increased because the City
<br />continues to make substantial pension contribution payments to CalPERS (reflected in the numbers above) for its former fire and police personnel even though it no
<br />longer employs fire fighters or police personnel (thus reducing its covered payroll amount significantly). San Carlos' police services are now provided by the San Mateo
<br />County Sheriff s Office and fire services have been transferred to the Redwood City Fire Department. (San Carlos, Comprehensive Annual Financial Report for Fiscal
<br />Year 2017-2018, p. 155.)
<br />2018-19 San Mateo Civil Grand Jury Appendix A-3
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