Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
LaSalle finance panel reviews draft tax levy and recommends larger pension contributions ahead of vote
Summary
Financial director John Duncan presented draft changes to the city’s annual tax levy and urged higher pension contributions after actuarial results showed a funded ratio gap — police pension ~48% funded, fire ~82% — and recommended higher contributions while keeping the overall rate under 5%.
LaSalle’s Finance Committee spent the bulk of its meeting reviewing a draft of the city’s 2025 tax-levy ordinance and pension funding recommendations from this year’s actuarial evaluation.
Financial Director John Duncan outlined last year’s levies and a draft plan to adjust them. He said the town levied $625,000 for the general fund, $35,000 for audit, $40,000 for IMRF, $300,000 for the library, $120,000 for the fire pension and $2,100,000 for the police pension in the prior cycle. In his draft for the coming year he proposed a modest $10,000 reduction to the general fund levy, leaving many smaller levies unchanged and increasing the library levy from $300,000 to $320,000 as part of a 10–12 year plan to move the library toward sustainability.
Duncan said the actuarial analysis…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
