FPDR board approves $3.3 million budget amendment after clean audit; disability costs fall

The Fire and Police Disability and Retirement Plan Board of Trustees on Nov. 18 accepted a package of budget amendments that reallocate roughly $3.3 million to reflect higher-than-expected starting pensions for recent retirees and lower-than-expected PERS reimbursements tied to reduced overtime, after auditors presented a clean annual opinion.

Stacy Jones, FPDR deputy director and finance and pension manager, told trustees the largest changes include a $1.5 million reduction to the budgeted reimbursements for PERS contributions to police and fire (based on evidence of lower overtime), an approximately $5 million increase to pension expense to reflect higher starting pensions among recent retirees, a $4 million increase in beginning fund balance tied to one-time urban-renewal revenue, and a $2.8 million downward revision to current‑year property‑tax collections. Jones described the net package as roughly a $3.3 million change and said the plan would still retain about $16 million in contingency.

The board voted to approve the…