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Trustees approve FY26 OPEB budget of $27.4 million
Summary
The Oklahoma City Post Employment Benefit Trust approved its fiscal year 2026 annual budget on May 14, setting revenues and expenditures and projecting a fund balance with a caveat that FY24 closing could change figures.
The Oklahoma City Post Employment Benefit Trust on May 14 approved the fiscal year 2026 annual budget, establishing revenue and expenditure budgets for the period covering July 1, 2025, to June 30, 2026. The motion passed unanimously.
The budget matters because it sets the trust—s plan-year spending and reserve posture for retiree health benefits. Leticia Thompson, assistant budget director, presented the FY26 budget and said the overall budget is $27.4 million, an increase of about $394,000 (approximately 1.46%) over FY25.
Thompson outlined changes by plan: indemnity-plan expenditures rose by roughly $782,000 (reported as about a 5.4–4.9% increase in the presentation) mainly driven by higher premiums; the EPO plan expenditures decreased by about $340,000 because of lower enrollments. On the revenue side, retiree contributions to the indemnity plan increased by about $391,000 while EPO contributions decreased by about $169,000; Thompson said these revenue changes align with expense shifts.
Thompson reported a reserve for future health-benefit obligations of about $4.2 million and projected a fund balance for FY26 of approximately $102.2 million. She cautioned the FY26 projection is subject to change because the FY24 close of the books is still in process; final FY24 results could alter FY25 and FY26 balances.
After brief questions from trustees, the board voted to approve the FY26 budget; the chair called the vote and the motion carried unanimously.
