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Denham Springs finance review flags retirement-rate drops, new hotel-tax fund and planned salary adjustments
Summary
City staff told the council finance committee that employer retirement contributions for some plans fell this year, the budget does not include a cost-of-living increase, and a new fund will capture hotel-tax revenue; a citywide salary survey and a separate compensation study for public safety are planned.
Denham Springs — City finance staff on May 3 told the City Council finance committee that employer retirement contributions for some plans have decreased this year, the draft budget does not include a uniform cost-of-living increase, and the city will create a separate fund to account for hotel-tax revenue.
The changes could affect police and fire pay and the timing of new revenue. In its presentation, staff said the employer contribution for one retirement plan dropped from 14% to 13.5% and that the police contribution fell from 35.6% to about 33.475%, which the presenter said "decreases the premium…
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