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Finance director: ARPA obligations met, OPEB full valuation scheduled for FY26; department head signals last presentation
Summary
Finance Director Anna Friedman told the Administration and Finance Committee the city met the U.S. Treasury ARPA obligation deadline and will perform a full OPEB valuation in FY26; she also framed the city's compensation study and signaled this was her final budget presentation.
Finance Director Anna Friedman told the Administration and Finance Committee on June 10 that the city met U.S. Treasury deadlines for American Rescue Plan Act (ARPA) funds and that FY26 will require a full actuarial valuation of Other Post‑Employment Benefits (OPEB), driving a one-time increase in contracted services.
Friedman said Salem met the US Treasury obligation deadline for ARPA on Dec. 31, 2024, and that the city is continuing to obligate and spend down those funds ahead of the federal deadline in 2026. She said the finance office will undertake a full OPEB valuation in FY26 — a full valuation year that typically costs in the “high 20 thousands,” versus interim years that run around $9,000.
Friedman also highlighted a recent compensation and classification study led jointly by finance and human resources and noted plans to modernize the manual personnel budgeting process by integrating payroll data into the city's budgeting platform. She credited capital‑planning staff and others for meeting ARPA obligations and for preparing the FY26 budget.
On a personal note, Friedman told the committee this was her last time presenting the finance department budget and reflected on achievements including GFOA distinguished budget presentation awards and better ARPA management. Committee members and councilors praised her leadership and the department's work.
Councilor Davis moved to recommend approval of the finance department FY26 personnel line $475,236; expenditures $150,006; department total $625,242. Councilor Harvey seconded and the motion carried.
