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Commission appropriates $3.9 million in premium‑tax distributions for police and firefighter pensions
Summary
The commission approved an amendment to the FY 2024–25 budget to appropriate $3.9 million in premium tax retirement distributions from the state; the revenue is restricted to police and firefighter pensions.
Joshua Waters, the city's budget director, told the commission that the state had distributed premium tax revenue that by statute must be used to fund police and firefighter pensions. "This revenue can only be used to fund police and firefighter pensions and totals $3,900,000," Waters said.
The item was a public hearing with no public speakers; commissioners voted to appropriate the funds into the amended FY 2024–25 budget. The action was presented as routine fiscal housekeeping to ensure restricted state funds are recorded and used for the intended pension liabilities.
