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Ross budget workshop: five‑year forecast balanced but pension costs loom
Summary
Council heard a staff presentation showing the town's operating fund remains balanced over five years under conservative revenue assumptions; discussion centered on CalPERS unfunded liability ($5.7M), an annual $200,000 pay‑down and options including consultants, PARS or increased pay‑downs.
Town staff told the council the town’s finances are healthy and projected that current service levels can be funded through 2027–2031 under conservative assumptions. “The town is financially healthy. We have received a clean audit for fiscal year ending ’25,” Krista said, noting the council had increased savings for the civic center and continued discretionary pension pay‑downs.
Staff presented a five‑year forecast that relies on Marin County and HDL projections for property tax growth (3–4% per year) and includes a $200,000 annual transfer toward the town's unfunded accrued pension liability. Krista said the most recent CalPERS valuation shows an unfunded accrued liability of $5,700,000; staff also noted the town has made $3.6 million in discretionary payments since 2016. Council members pressed staff on assumptions — several pointed out recent property tax growth exceeded forecasts — and asked the finance subcommittee to evaluate pension options and whether to engage a consultant.
