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Finance committee reports progress on pensions, CIP and compensation review; final report due soon
Summary
The city’s finance committee updated council on five subcommittees — unfunded pension liability, CIP (streets and buildings), compensation, cost allocation, and cash-management forecasting — and said final recommendations are expected in about a month.
Acting Finance Committee Chair Chris Warner delivered a status update on the committee's work, saying the group is advisory and focusing on a five-year baseline forecast for the general fund.
"We are not making any assumptions on new revenues," Warner told the council, summarizing the committee's approach of classifying expenditures into compliance, service level, and aspirational categories and emphasizing that recommendations will be advisory only.
Greg Dolly (unfunded liability subcommittee) said that the city’s funded ratio stood…
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