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City treasurer pitches FY2026 budget; pension health, DBE investment and community outreach highlighted
Summary
City Treasurer Sims and OMB staff presented the proposed FY2026 treasurer’s office budget to the Finance Committee, emphasizing pension fund performance, a plan to increase retiree medical funding, commitments to MWBE/DBE asset managers and modest increases for community outreach and professional services.
The Wilmington Finance Committee heard the Treasurer’s proposed FY2026 budget and questioned officials about pension funding, retiree benefits and professional services at a budget hearing Wednesday.
OMB fiscal analyst Mr. Jones told the committee the treasurer’s office is requesting $7.3 million in total, with pension funds representing about 93% of that total and the general fund portion at $523,700 (an increase of roughly $55,000). Jones said the increase in the general fund primarily supports personal services adjustments, modest increases in community services funding and travel for training.
City Treasurer Sims framed the office’s priorities as “integrity and compliance, collaborative partnerships, strong governance, and of course, stalwart commitment to…
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