Next Tuesday budget meeting will discuss this from page 287 of the budget.
Five points:
- 9,708,794 Capital Campaign Stabilization
- 1,000,000 City Square Reserve Fund
- 5,501,101 Bond Rating Stabilization Fund
- 3,047,000 North High School Construction Fund
- 4,351,100 OPEB Trust Fund
OPEB=Other Post Employment Benefits, which mainly means health insurance. From 2013 Audit
- OPEB unfunded liability 636,000,000
- Pension Unfunded liability 410,000,000
We need to check the 2014 Audit to see what these unfunded numbers will be. Keep in mind these can change greatly based on actuarial assumptions, investment returns and actual premiums versus those that were projected.
$4,351,000 is a good step but a drop in the bucket.
