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Public safety budget hit by state retirement-rate increase; staff outline options to close nearly $900,000 gap
Summary
At an April 14 Public Safety Meetings session, staff presented the proposed 2027 operating budget and said a notified 2.5% increase in the state retirement rate (TCRS) turns a projected $24,000 surplus into roughly a $900,000 deficit; staff said they will present balancing scenarios at a follow-up workshop April 27.
At the April 14 Public Safety Meetings session, a city staff presenter reviewed the proposed 2027 operating budget and warned that a recent change to the state retirement rate will move the proposal from a small surplus into a large shortfall.
"We got notification from TCRS, the state retirement plan, that our rate went up about 2 and a half percent, which is the equivalent of a $900,000 increase," the presenter said, adding that staff had previously calculated about a $24,000 surplus but now face an approximate $900,000 deficit. Staff said they are developing scenarios to address the gap and will present options at the April 27 budget workshop.
Why it matters: public safety accounts for a large portion of the city's…
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