Commission adopts FY2024–25 budget amendments and pension changes on second reading
Summary
On second reading the commission approved Ordinance 2025‑33 amending the FY2024‑25 budget across multiple funds and Ordinance 2025‑34 revising general employee pension benefit formulas; both passed unanimously.
The commission adopted two second‑reading ordinances.
Ordinance 2025‑33 amended the annual budget for fiscal year 2024–25 across multiple funds, including the general fund, downtown redevelopment trust fund, stormwater utility fund, airport fund, economic development fund, pension pass‑through fund and several capital and replacement funds. The ordinance was read by title and approved on second reading with no public comment recorded.
Ordinance 2025‑34 amended the general employees pension plan (Chapter 16) to change benefit amounts, eligibility and vesting language and to provide a benefit multiplier for credited service earned on or after Oct. 1, 2025, for members hired on or after December [date shown in staff notes]. Commissioners voted unanimously to approve the second reading.
Both ordinances will be codified and implemented by the finance and human resources departments according to the normal administrative timetable.
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