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Mount Clemens reports pension at 96% funding, highlights diversified investments and grant pursuits
Summary
City staff told commissioners the municipal pension system is about 96% funded and described a diversified investment strategy that helped finance local street reconstruction; staff also summarized grant activity and said the city shares a contract grant writer with the DDA.
City staff briefed the commission on fiscal sustainability measures, reporting the Mount Clemens pension system was about "96% funded" and positioning the city among the better-funded municipal systems in Michigan.
"So the pension system right now is 96% funded," staff told the commission and noted that in 2024 Mount Clemens ranked in the top tier of pension funding among reporting Michigan systems. Staff described a diversified long- and short-term investment strategy the city uses to support capital projects, including recent local street reconstruction work.
On revenues and grants, staff listed successful and pursued sources: federal and state allocations, SEMCOG, FEMA, EGLE, CDBG and MEDC, and noted a successful "wrap grant" application with other grant attempts under consideration. Commissioners asked about grant preparation; staff said the city shares grant-writer services with the DDA, identifying "Linda Davis Kirksey" as the shared grant writer.
Commissioners asked whether the administration should track number and dollar value of grants as metrics; staff said grant counts have declined but financial returns from investments have materially improved. One staff estimate cited roughly "$100,000 a month" in earnings from invested funds as a reasonable, if variable, figure to illustrate improvement in returns.
No formal fiscal action was taken at the work session; the commission asked staff to tighten metric proposals and to report additional detail on grant dollars and investment performance at a future session.
