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Committee recommends transfers to pension fund and to address BRA deficits
Summary
The Finance Committee recommended transferring $3,388,863 from the pension stabilization fund to the Brockton Retirement Board to cover pension obligations and $1,609,443 from free cash to eliminate deficits tied to the Brockton Redevelopment Authority's CDBG/HOME programs, following administration explanations and plans for audits and HUD coordination.
The Finance Committee on Dec. 1 recommended a set of transfers intended to stabilize the city's pension and community-development accounts.
CFO Troy Clarkson presented a transfer of $3,388,863 from the pension stabilization fund to the Brockton Retirement Board to satisfy the city’s…
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