Cochise County Board adopts tax rates and levies after discussion of pension shortfalls and special districts

The Cochise County Board of Supervisors voted 3-0 to adopt tax rates and levies for county taxing entities, the board announced after a motion to adopt the figures contained in the meeting exhibit. The board's action follows a publicized truth-in-taxation process and a discussion among supervisors and staff about pension liabilities, special districts and how Arizona's expenditure limits affect county budgeting.

The vote was taken after staff displayed levy charts and supervisors discussed several related matters, including the county's obligations to the Public Safety Personnel Retirement System, commonly known as PSPRS. County staff reported that the Cochise County sheriff's office had $975,154 in excess from the prior year's budget that could be available to put toward PSPRS obligations. "Yes, sir. We are still closing out the fiscal year, but currently, the sheriff has an excess from last year's budget of $975,154," County staff member Fenhouse said.

Why it matters: supervisors and staff said rising PSPRS unfunded liabilities—cited in the discussion as about $40,000,000 for Sierra Vista's fire and police PSPRS and about…