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Piedmont budget assumes full staffing despite recruitment pressures; pension costs may require drawdown of stabilization fund
Summary
Council heard that the draft budget assumes full staffing while staff and chiefs described recruitment and retention challenges—particularly in the police department—and that the city's pension‑rate stabilization fund (about $5 million) may be tapped in FY26–27 as CalPERS unfunded‑liability payments rise.
Councilmembers pressed staff on staffing and recruitment assumptions in the proposed budget. City Administrator Roseanne and Interim Finance Director Mike Sheck said the budget is based on full staffing levels while noting the city typically realizes vacancy savings during the year. "We've experienced quite a bit of change and transition in planning and building," Roseanne said, and staff warned that lateral police hires remain challenging in the current labor market.
On pensions, Sheck reviewed the stabilization fund created in prior years and said investment returns had grown that balance to roughly $5,000,000. He warned the city may begin drawing on that fund in FY26–27 to smooth increases in CalPERS unfunded‑liability payments and that the fund could be depleted in three to four years under current projections. "Right now there's $5,000,000 in the fund because we had a good investment returns over the 5 years," Sheck said, adding that next year's unfunded liability payment will be approximately $3.5 million and is projected to rise further.
