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Treasurer outlines pension gains, a new outreach position and modest general fund request
Summary
City Treasurer Sims and OMB presented the treasurer—s FY2027 request, emphasizing pension performance, a new split-funded communications/programs manager and $160,000 in financial-empowerment programming; the presentation also flagged an $85,000 vehicle request and shifts in pension health-care funding.
City Treasurer Sims and an OMB analyst defended a small but strategic increase in her office—s FY2027 operating request, telling the Wilmington City Finance Committee that the treasurer—s operations are focused on modernization, governance and outreach while the bulk of the office—s budget is devoted to pension funds.
During a presentation to the committee on April 22, OMB fiscal and operational analyst Mister Jones said the treasurer—s office is requesting a total departmental budget of $8,000,000, with roughly 90% of that amount tied to pension funds and about 10% to the general fund. Jones said the general-fund portion totals $813,000, an increase of about $289,000, driven primarily by personal-service costs tied to a new split-funded position.
Sims said the new position — a manager of communications, programs and strategic partnerships split 50% between pension funds and the general fund — will support financial-empowerment programming for employees, retirees and residents. "This position will oversee the financial empowerment and wellness programming that added $160,000 to the workshops, seminars and training account," Sims told the committee.
Sims also highlighted the pension fund—s recent performance: she said the administration—s management has added more than $111 million in pension-fund growth since 2021 and that the plan returned 13.5% in fiscal year 2025. She said approximately 67—68% of planned assets are managed by minority- and women-owned business enterprises, a year-over-year increase the office emphasized as part of its equity priorities.
Council members pressed for details on specific line items. Mister Jones confirmed a requested $85,000 vehicle for the treasurer—s office will replace a loaner vehicle and said fleet management set the price; Jones added that the general-fund request for the treasurer—s office represents less than one-half of 1% of the city—s roughly $212 million proposed operating budget.
Sims also addressed pension-health costs and retiree benefits: she said the pension-health care line is budgeted at $5,500,000 for FY27 after a $250,000 actuarial increase, and that the office makes a standard annual OPEB contribution of $250,000; she said 411 participants are currently enrolled in the retiree-health program.
The treasurer closed by describing a multiyear plan for modernization, expanded outreach programs branded as "Treasury Talks," and an intentional approach to managing consultants and actuarial expenses while repurposing savings for financial education initiatives. Chair Michelle Harley said committee members could follow up via staff for additional detail.
