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Gilpin Township accepts pension letter; estimates MMO at $24,254
Summary
Pension administrator Sharon Long presented the township's estimated minimum municipal obligation (MMO) for next year at $24,254 (before state aid); the board accepted the letter and discussed combined pension figures and next steps.
Sharon Long told the board the township's estimated minimum municipal obligation (MMO) for next year. "Our estimated MMO for next year, our municipal obligation is $24,254 to the pension fund," she said, noting that figure is before any state aid.
Board members discussed how the nonuniform and police pension totals combine for planning and budget purposes. After clarifying questions, a motion was made to accept the letter from Sharon Long, the pension administrator, and the motion carried on a voice vote. The board flagged that state aid projections will affect the net obligation and that they will revisit exact funding when state aid is confirmed next year.
