Council flags pension study timing and a date typo in the audit packet
Council members noted the pension experience study cited in the audit packet dates to 2018 and questioned whether it should be updated every five years; the auditor said annual actuarial reports are provided and agreed to correct a date typo on page 50 before finalizing the audit.
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A council member drew attention to the pension section in the audit packet and said the most recent experience study referenced was dated Nov. 29, 2018, noting the Government Finance Officers Association recommends reviewing that experience study every five years. The council member asked staff and auditors to consider placing an update on a future meeting agenda.
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