pages: CityCouncil/2017-03-21.pdf, 18
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CityCouncil | 2017-03-21 | 18 | *** Mayor Spencer called a recess at 10:30 p.m. and reconvened the meeting at 10:33 p.m. The Finance Director continued the Power Point presentation. In response to Mayor Spencer's inquiry, the Finance Director stated the contributions to the OPEB Trust will be proportionately spread based on the number of employees. In response to Mayor Spencer's inquiry, the Assistant City Manager stated library employees have a pension and a very small OPEB liability. Mayor Spencer inquired whether there will be less money for library services for the public, to which the Finance Director responded having less money could potentially be the case. In response to Mayor Spencer's inquiry, the Finance Director stated if the Trust is not funded now, there will eventually be cuts to services when it is time to make payments in the future; the objective is to try to prevent the cuts from happening in the future. In response to Mayor Spencer's inquiry, the City Manager stated budgets of each department are being reviewed as a whole; staff is requesting Council to look at a proactive way to address the unfunded pension and OPEB liability. Mayor Spencer stated the Council is being asked to adopt a very specific policy. Councilmember Oddie stated if the liability goes from $15.6 million in FY16-17 to $35.5 million in FY22-23, there may not be a library or public safety departments by then if something is not done now. In response to Councilmember Ezzy Ashcraft's inquiry, the Finance Director stated all employees contribute to pensions, and Police and Fire employees contribute to OPEB. Vice Mayor Vella inquired whether employees contribute the same amounts, to which the Finance Director responded the contribution amount depends on the employee's salary; stated employees also do a cost-share; public safety employees currently pick up 6% of the employer contributions and miscellaneous employees pick up 1.868% of employer contributions. In response to Councilmember Oddie's inquiry, the Finance Director stated the goal is to set up a trust policy; staff is not asking Council to allocate funds tonight. Councilmember Ezzy Ashcraft inquired whether the City can make contributions anytime during the year, to which the Finance Director responded in the affirmative. In response to Council Member Ezzy Ashcraft's inquiry, the Finance Director stated the Regular Meeting Alameda City Council March 21, 2017 | CityCouncil/2017-03-21.pdf |