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City CFO says pension-bond calculations mean a roughly $11.4 million school pension deduction in FY27
Summary
City Chief Financial Officer Troy Clarkson told the Brockton Public Schools finance subcommittee that issuing the final tranche of pension obligation bonds will leave an estimated $11.4 million pension deduction attributable to the schools in FY27; members pressed for clearer documentation, historical comparisons and confirmation from DESE.
Troy Clarkson, Brockton's chief financial officer, told the finance subcommittee on April 7 that the city's pension-obligation bond program and a planned issuance of roughly $59'60 million will produce an estimated $11.4 million deduction from the school department's FY27 net school spending figure.
Clarkson said the committee's materials compare three calculations: an Open Architects net school spending estimate of about $254.7 million, an actuary-based escalation that would have produced a roughly $30 million pension deduction absent the bonds, and the city's current estimate derived from underwriter amortization of the final bond issuance (the $11.4 million figure). "That if we had not issued…
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