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Finance committee approves roughly $78,000 payment to TCRS for legacy-employee liability
Summary
City staff told the finance committee that about $78,000 in year-to-date payroll gap funds should be sent to TCRS to reduce the city’s legacy-employee unfunded liability; the committee approved the payment by voice vote.
Sam, a city staff member, told the finance committee that the city budgets each year for contributions to TCRS for legacy employees when positions are unfilled and that a gap remained between year‑to‑date actual contributions and the budgeted amount. "That's just throwing this year be about $78,000 towards that unfunded liability," Sam said, and asked for explicit approval to request an invoice and pay that amount this fiscal year.
A committee member moved to approve sending the funds to TCRS and another member seconded; the committee approved the motion by voice vote. The presenter said the same approach has been used the past two years.
The committee did not specify which line item the city would use to fund the payment beyond saying it reflects the gap between year‑to‑date actual and budgeted payroll contributions. No additional background materials or a departmental memorandum were included in the meeting packet as recorded in the transcript.
The committee adjourned after the vote.
