[{"_1":2,"_98":-5,"_99":-5},"loaderData",{"_3":4,"_26":27},"root",{"_5":6,"_17":10,"_18":19,"_20":21,"_22":10,"_23":-5,"_24":-5,"_25":10},"user",{"_7":8,"_9":10,"_11":10,"_12":-5,"_13":-5,"_14":15,"_16":-5},"roles",[],"isAuthenticated",false,"isPremium","planName","subscriptionStatus","featureFlags",{},"insightsBudget","isDevelopmentHost","userPreferences",{},"recaptchaSiteKey","6LcvOJcUAAAAAHsB-gPGfGktcRlKpH7OTIU_dMTD","isImpersonating","impersonation","affiliateStatus","isFreedomPortal","routes/v2/article/layout",{"_28":29,"_30":31},"notFound",true,"relatedArticles",[32,75,86],{"_33":34,"_35":36,"_37":38,"_39":40,"_41":42,"_43":44,"_45":46,"_47":48,"_49":50,"_51":52,"_53":54,"_55":56,"_57":58,"_59":60,"_61":62,"_63":64,"_65":66,"_67":68,"_69":70,"_71":68,"_72":73,"_74":73},"mediaId",6249654,"mediaKeyId","3204944-0cbb2aa43e5aca953b3fafc5122188a1","parentId",3204944,"title","Council approves consulting contracts for pension valuations; conversion study to RSA also funded","audioSeconds",170,"startMs",119000,"endMs",289000,"viewUrl","/Search/View?dp=1&key=3204944-0cbb2aa43e5aca953b3fafc5122188a1&start=119&end=289","thumbnailUrl","https://assets.pipeline.soar.com/3204944-0cbb2aa43e5aca953b3fafc5122188a1/thumbnail_119000.jpg","articleUrl","/articles/6249654/Tuscaloosa-City/Tuscaloosa-County/Alabama/Council-approves-consulting-contracts-for-pension-valuations-conversion-study-to-RSA-also-funded","mediaUrl","https://secure.pipeline.soar.com/6249654-c1bc895be72f8fc10ea77ecadebf00ba/orig.mp4?Expires=1771177411&Signature=DfwUhD4hMSxm-LdXLu9BZ1gKONmM4vBsoEg8N64q-1zERf82iERd4aW8wADA3U-ov~cJCryDo6MQz1sZSED~0lCE5DZJLReh6wVIzVjojd4Ip~FztePWcYG4bYgMWGucBZC-FplMlf~GEuk1EJ1BlSTMkN5MAOlE3VVkIfFkcNpFVTlEZLoEmbWMd7rPoZkhaP7d-ST3q-uzvnCR5J6gp1w4sHU8IgQkfuCLl7BjCX7K2clKjvt0y~rY9fLFrLXbn4gsy5M9Hes4L7-wXoQsDPojojZJ0ntAAddIKO8FOT9A~0rsh9Dnf9-MbunIGwTkJkSBTAAPFXLUme23FZQWtg__&Key-Pair-Id=KUT5TJCACFTXG","author","Tuscaloosa City, AL","date","2025-05-07T09:02:01Z","article","The Tuscaloosa City Council voted to authorize an agreement with Kevin O. McDonald Consulting for GASB valuation services for the city's police and fire pension plans and other postemployment benefit reporting. The council also approved a separate valuation contract to analyze the cost implications of converting current police and fire pension retirees to membership in the Retirement Systems of Alabama (RSA).

The nut graf: the two contracts cover routine actuarial and accounting services required for GASB 67/68/75 reporting and a conversion study to inform potential pension plan changes; council members asked about funding sources to pay for the work and were told part of the cost would come from council outside-services funds.

City staff told the council the GASB 67/68/75 valuation contract is the same as last year and is $24,200. Staff described that contract as covering the city's accounting and financial reporting obligations for pension plans and other postemployment benefits. The council approved the item by voice vote; no roll-call tally was provided in the public transcript.

A second contract with the same consulting firm was presented to perform a valuation related to converting the police and fire pension plan into RSA membership. Staff described the amount for that work in discussion but the transcript’s phrasing was unclear; staff and council referenced using a portion of council outside-services funds to pay the cost. Council approved the conversion valuation item by voice vote; no detailed vote tally was recorded in the meeting transcript.

Ending: Staff said the conversion valuation will help the city understand the fiscal impact on current pensioners if a conversion to RSA occurs; the study's results and funding-source clarifications will be reported back to the council when available.","mediaType","Video","parentTitle","Tuscaloosa Finance Committee Meeting - May 06, 2025","oneSentenceSummary","The council authorized Kevin O. McDonald Consulting to provide GASB valuation services for police and fire pensions and approved a separate valuation to estimate costs of converting local pensioners to RSA membership.","taxTitle","Tuscaloosa City, Tuscaloosa County, Alabama","taxId",4830,"location","headline","","shortSummary",{"_33":76,"_35":36,"_37":38,"_39":77,"_41":78,"_43":79,"_45":79,"_47":80,"_49":81,"_51":82,"_53":83,"_55":56,"_57":58,"_59":84,"_61":62,"_63":64,"_65":85,"_67":68,"_69":70,"_71":68,"_72":73,"_74":73},6249658,"Tuscaloosa leaders outline Elevate bond plan and projected costs for new Savings Center",0,234000,"/Search/View?dp=1&key=3204944-0cbb2aa43e5aca953b3fafc5122188a1&start=234&end=234","https://assets.pipeline.soar.com/3204944-0cbb2aa43e5aca953b3fafc5122188a1/thumbnail_234000.jpg","/articles/6249658/Tuscaloosa-City/Tuscaloosa-County/Alabama/Tuscaloosa-leaders-outline-Elevate-bond-plan-and-projected-costs-for-new-Savings-Center","https://secure.pipeline.soar.com/6249658-acc99e9f2bdf0ddb73a3cdb0d1c8b1cb/orig.mp4?Expires=1771177411&Signature=OZobPbLeE7eCikZQp~KgJ4WDqgJoQhZrwWSPyJXWmUJ1Cm8j8qx66Sgbmq0vHExSdus2TYDAO6GEVQKp-KI4ypIXvipEBu147fachldV9DAKNFv9GK795gGWcCSJnDTytD387iYvyi4VSwfEffC5ABhONxPYeYUPKxx2IqVd6R4wt-rgWqtDB5dbJ9s8O0Tqef8uZSwjWo7fepKkmww5RrLrWTy2FAu1UdPH5DKIZJKoy5fvSEmBd0VD92D4gpQtFJqdI6YdAFfHMsOWaPnQPufCFlENx0lM5gZx0lzed42V7EmlA6iSglEi4VxNtNZ~IY5XOPf-rK4w-feyZC5O7g__&Key-Pair-Id=KUT5TJCACFTXG","Mayor Mac presented the City of Tuscaloosa's capital-projects budget called \"Elevate,\" outlining a proposed multi-year bond issuance that would fund projects including the Savings Center, a pickleball center, the University Boulevard corridor and Odom Park.

The plan sets aside 15% of the Elevate sales-and-use tax for operation and maintenance (O&M) of Elevate facilities, Mayor Mac said; that allocation and a separate River District Fund would help pay recurring repair, maintenance and operational subsidies for new facilities. He said the city may recommend increasing the O&M set-aside to 16% or 17% in later years to address rising costs.

The nut graf: the council heard detailed projections for bonds and operating costs and asked city staff about how state contributions and foundation fundraising would interact with the city's budgeted O&M obligations. Council members pressed for clarity on who will manage state funds and how long the city's seed funding for the Savings Center foundation will continue.

City staff circulated spreadsheets that showed three bond tables (prior 2020 and 2022 issuances and a proposed fiscal-2026 issuance) and a projected fiscal plan through fiscal 2033. The fiscal-2026 bond proposal would include the Savings Center, pickleball center, University Boulevard corridor and Odom Park. Officials said some completed projects (Odom Park) were paid from cash and will be reimbursed from the bond issue.

Mayor Mac described the Elevate O&M fund as “one of the most important aspects” of the budget and said the city dedicates 15% of the sales-and-use tax toward operation and maintenance. He added the projection shows the fund balance falling by fiscal 2028–2033 under current assumptions, and the city may recommend raising the percentage to maintain the fund in later years.

The presentation included a River District Fund (formerly the amphitheater fund) that combines lodging-tax revenue and portions of the Elevate O&M allocation to support the Mercedes‑Benz Amphitheater, River Market and River Walk. Staff proposed multi-year repairs and upgrades for the amphitheater, including a planned capital spend of $2 million in fiscal 2026 and additional amounts in subsequent years to be financed in the bond package.

For the Savings Center, staff provided a consultant’s projection of maintenance and operating costs and an operational subsidy estimate. The materials presented project fiscal 2025 revenues of $4.3 million and expenditures of $2.1 million for the combined River District/Elevate funds, leaving a carryover; for fiscal 2027 — the year the Savings Center is expected to open — staff projected revenues of $6.8 million and expenditures of $4.3 million, with a carryover. The consultant’s estimate shown in the packet projects a city subsidy for the Savings Center’s operations of about $1,037,000 in fiscal 2027.

Council members asked how the state’s planned $25 million contribution for the state’s STEM center would be managed and whether those dollars would offset the city’s O&M liability for the Savings Center. The mayor and staff said the state funding would be for state-specified services and that the city’s O&M figures reflect only the city’s share; specific agreements and language for passing or managing state funds still must be worked out with the foundation and other partners.

Council members also questioned how long the city’s seed contributions to the Savings Center Foundation would continue now that the foundation has raised substantial philanthropic commitments. Staff said the final year of seed funding in the council’s plan is fiscal 2026; thereafter fundraising and earned revenues are expected to be reflected in the foundation’s and facility’s operating results, although staff cautioned that operational fundraising is distinct from capital fundraising for exhibits and long-term operations.

Officials and consultants noted that early years of operations sometimes show a “spike” in maintenance costs as systems are fine-tuned; staff said these projections come from benchmarks for conference centers and museums and will be refined as bids and an operational staffing plan are completed. Staff recommended the council meet with the Savings Center Foundation leadership for additional detail; the mayor offered to place that discussion on a future agenda for a deeper briefing.

Ending: Council members did not take a final vote on bond issuance at this presentation; staff said the bond sale is market dependent and tentatively targeted for midsummer, likely the week after July 4. Staff emphasized that figures are projections and will be refined with bids, operational plans and finalized funding agreements before any final financing or contractual commitments are made.","City officials presented a proposed multi-year bond schedule and operating plan for the Elevate program, including a new 'Savings Center' that would receive 15% of Elevate sales-and-use tax revenues for operations and maintenance and a projected operating subsidy in early years.",{"_33":87,"_35":36,"_37":38,"_39":88,"_41":89,"_43":90,"_45":91,"_47":92,"_49":93,"_51":94,"_53":95,"_55":56,"_57":58,"_59":96,"_61":62,"_63":64,"_65":97,"_67":68,"_69":70,"_71":68,"_72":73,"_74":73},6249648,"Council approves July back-to-school sales tax holiday",38,77000,115000,"/Search/View?dp=1&key=3204944-0cbb2aa43e5aca953b3fafc5122188a1&start=77&end=115","https://assets.pipeline.soar.com/3204944-0cbb2aa43e5aca953b3fafc5122188a1/thumbnail_77000.jpg","/articles/6249648/Tuscaloosa-City/Tuscaloosa-County/Alabama/Council-approves-July-back-to-school-sales-tax-holiday","https://secure.pipeline.soar.com/6249648-e8da1b3be4f028d4a8c582a3c46a06c9/orig.mp4?Expires=1771177411&Signature=kOOSoxqdWaQ5SinD7OkJ73HKqRdGXcPKT-rVYDyHTwDJaLqBGdHeoMtgtlwd7EGouSES1eAmAl-6xVzugGnn~1u39cfQQ9zBPVIWzli6PlF0Fs7SccdtpMLTDRAnVTXOyS5Ow4cJcx1EEqjgM5sNlA1ofpq1V6FR0o-8urNvxqFPfZEnxIDTOTvjD2V9b6YQulS4nCqLXKK3TiIk3Ypq5tVc7aR2rjB6tabnTzyYpuoanXEwtv8HT160~m9JRMNgNSHCFP-ATvjeNtc~NjMXNvVo66tca1GOHR2~-GIn9BcpbISwMsHnOOKvQOQmuB3GR4ukEsOcAvZpIHDfRzimkg__&Key-Pair-Id=KUT5TJCACFTXG","The Tuscaloosa City Council approved a back-to-school sales tax holiday for July to abate sales tax on qualifying clothing and school supplies, staff told the council. The item was presented as \"back to school sales tax holiday\" and approved by voice vote.

The nut graf: council members asked no substantive questions during the presentation and the item passed on a standard motion, with council adoption recorded in the meeting transcript as a voice vote (\"All in favor, say aye\").

Staff described the holiday as a July abatement intended to help families purchase clothing, school supplies and similar items ahead of the school year. Council approved the item by voice vote; the transcript records no roll-call or specific vote tally.

Ending: Staff indicated the measure will be implemented in July; staff did not provide additional administrative details about qualifying items or duration in the portion of the transcript provided.","The council approved a back-to-school sales tax holiday in July to exempt sales tax on qualifying clothing and school-supply purchases; the item passed by voice vote during the meeting.","actionData","errors"]

Article not found

Council approves consulting contracts for pension valuations; conversion study to RSA also funded

Tuscaloosa leaders outline Elevate bond plan and projected costs for new Savings Center

Council approves July back-to-school sales tax holiday