CITY COUNCIL AMENDED SPECIAL MEETING AGENDA, May 23, 2017

Agenda Packet 05-23-17 by L. A. Paterson on Scribd

CITY OF CARMEL-BY-THE-SEA 

CITY COUNCIL AGENDA PACKET (AMENDED)
SPECIAL MEETING
Tuesday, May 23, 2017
Fiscal Year 2017-2018 Proposed Operating Budget

City of Carmel-by-the-Sea, California Fiscal Year 2016 – 2017 Adopted Annual Budget

FY 2016-2017 Adopted Annual Budget by L. A. Paterson on Scribd

City of Carmel-by-the-Sea, California

Fiscal Year 2016 – 2017
Adopted Annual Budget

CITY COUNCIL SPECIAL MEETING AGENDA, May 9, 201

Agenda Packet Special Meeting 05-09-17 by L. A. Paterson on Scribd

CITY OF CARMEL-BY-THE-SEA
CITY COUNCIL AGENDA
SPECIAL MEETING
Tuesday, May 09, 2017
CLOSED SESSION 3:30 p.m.
OPEN SESSION 4:30 p.m.

DRAFT PROVISIONAL BUDGET FY 2017 – 2018.pdf by L. A. Paterson on Scribd

CITY OF CARMEL-BY-THE-SEA, CALIFORNIA
DRAFT
Provisional Budget
Fiscal Year 2017 – 2018

CITY OF CARMEL-BY-THE-SEA STREET PROJECTS LOCATION MAP (DECEMBER 20, 2016): COMPLETED PROJECTS FY 07-08 TO FY 12-13 through FY 16-17 PROJECTS & FUTURE PROJECTS FY 17-18 & BEYOND

Carmel Street Projects Location Map 12-20-2016 by L. A. Paterson on Scribd

CITY OF CARMEL-BY-THE-SEA, CALIFORNIA
STREET PROJECTS LOCATION MAP
DECEMBER 20, 2016
COMPLETED PROJECTS FY 07-08 TO FY 12-13 through FY 16-17 PROJECTS & FUTURE PROJECTS FY 17-18 & BEYOND

City of Carmel-by-the-Sea Fiscal Year 2016-2017 DRAFT BUDGET

Carmel by the Sea DRAFT Budget FY 16 17 by L. A. Paterson

City of Carmel-by-the-Sea
Fiscal Year 2016-2017
DRAFT BUDGET

Carmel City Contracts (10/23/14 Report)

ABSTRACT: A document Table of Carmel City Contracts (10/23/14 Report), including columns for Department, Vendor, Fiscal Year, Description, Begin Date, End Date, Council Approved?, Responsible Person, Expenditure Limit, Contract Actual, (Over)/Under, is embedded.  As of the October 23, 2014 Report, there are 99 contracts listed on the Table, including eight (8) Over Contract Expenditure Limit, namely Ailing House Pest Management ($465), HF & H CONSULTANTS, LLC ($4,970), MARK ALCOCK EXAMINER ($124,878), MARK ALCOCK FORENSIC ($7,244), MARK ALCOCK IT ($165,674), PUBLIC CONSULTING GROUP ($68,516), PUBLIC CONSULTING GROUP ($26,056), PUBLIC CONSULTING GROUP ($42,687).

Carmel City Contracts 10-23-14 Report

Carmel City Contracts (10/23/14 Report)
Source: City of Carmel-by-the-Sea

SUMMARIES: Public Consulting Group Contracts, Over Contracts Amount $88,659.82 & Mark Alcock Contracts, Total of Amount Overpaid $254,296.29

ABSTRACT: Summary of Public Consulting Group Contracts, September 23, 2014, and Summary of Mark Alcock Contracts, September 17, 2014, documents compiled by the City are embedded. For all four Public Consulting Group Contracts, All Contracts Paid-to-Date $269,459.82 vs. Contracts Amounts $180,800.00 for an Over Contracts Amount of $88,659.82. And for all of the three Mark Alcock contracts, Total of Invoices to all Contracts $382,796.29 vs. Total of all Contract Amounts $128,500.00 for a Total of Amount Overpaid of $254,296.29.   

Public Consulting Group Contracts Summary

Summary of Public Consulting Group Contracts September 23, 2014

Contract #1 ASD-PCS-PCG-001-2013-14
Paid-to-Date: $67,687
Over Contract Amount: $19,687.38

Contract #2 ASD-PCS-PCG-IT-019-2014-15
Paid-to-Date: $101,056.00
Over Contract Amount: $26,056.00

Contract #3 ASD-PCS-PCGMB-003-2013-14
Paid-to-Date: $93,516.44
Over Contract Amount: $53,516.44

Contract #4 ASD-PCS-PCG-TECH2-2013-14
Paid-to-Date: $ 17,000
Contract Positive: $9,800.00

All Contracts: Paid-to-Date $269,459.82 vs. Contracts Amounts $180,800.00
Over Contracts Amount $88,659.82

Alcock Contracts Summary

Summary of Mark Alcock Contracts September 17, 2014

Contract #1 ASD-PCS-MA-001-2013 February 25, 2013
Paid-to-Date: $26,244
Over Contract Amount: $7,244

Contract #2 ASD-PCS-MA/Sec-MA-002-2013 May 5, 2013
Paid-to-Date: $157,958.29
Over Contract Amount: $147,174.29

Contract #3 ASD-PCS-MA-Examiner-003-2013 June 19, 2013
Paid-to-Date: $159,878.00
Over Contract Amount: $99,878.00

Total of Invoices to all Contracts $382,796.29 vs. Total of all Contract Amounts $128,500.00
Total of Amount Overpaid $254,296.29

MINUTES, SPECIAL CITY COUNCIL MEETING, June 10, 2014

City Council Special Meeting Minutes June 10, 2014 07-01-14.pdf

MINUTES
SPECIAL CITY COUNCIL MEETING
CITY OF CARMEL-BY-THE-SEA
June 10, 2014

CARMEL-BY-THE-SEA CITY COUNCIL: CLOSED SESSION & SPECIAL CITY COUNCIL MEETING, June 10, 2014

ABSTRACT:  On June 10, 2014, the Carmel-by-the-Sea City Council is scheduled to conduct a Closed Session at 3:30 P.M. and Special City Council Meeting at 4:30 P.M. The Agenda Packet is embedded, including agenda items Consideration of a Resolution Adopting the Fiscal Year 2014-2015 Operating Plan and Budget and Adopt Budget Adjustments for Fiscal Year 2013-2014, Consideration of a Resolution Approving the Memorandum of Understanding Regarding the Maintenance of Effort Requirements Related to Proposition 172 Funding and Consideration of a Resolution Adopting the Fiscal Year (FY) 2014-2015 Gann Limits; and the Council Report Subject: Fiscal Year (FY) 2014-2015 Budget Hearings, including Attachment I - Budget Hearing Schedule, Attachment II - Completed Budget Inquiry Forms and Budget Inquiry Log, Attachment III- Budget Hearing Presentation; City Administrator, Attachment IV - Budget Resolutions and Attachment V - Outside Agency Request Letters.

Special City Council Agenda Packet 06-10-14

CARMEL-BY-THE-SEA CITY COUNCIL
CLOSED SESSION & SPECIAL CITY COUNCIL MEETING AGENDA PACKET

June 10, 2014 

City Council Special Budget Hearing 11 June 2013: $18.2 Million Proposed Fiscal Year 2013/2014 Operating Plan & Budget

  Special City Council Meeting Agenda Packet 06-11-13

SPECIAL CITY COUNCIL MEETING AGENDA PACKET
Tuesday, June 11, 2013

ABSTRACT:  The City Council is scheduled to conduct a Special Council Budget Hearing on Tuesday, June 11, 2013 at 4:30 P.M, City Hall, East side of Monte Verde Street between Ocean and Seventh Avenue. The City of Carmel-by-the-Sea, California Fiscal Year 2013-2014 Proposed Operating Plan & Budget (May 7, 2013) document is embedded. The EXECUTIVE SUMMARY states, in part, as follows:

The Fiscal Year 2013-2014 operating plan, including the recommended budget, is submitted for your consideration, possible amendment, and adoption. This document serves as a policy document, financial plan, operations guide, and communications device. It includes seven sections. First, this budget message which includes an executive summary, five-year financial forecast, city goals and objectives and the policy planning and management system in place to meet the goals and objectives, and discussion of key issues affecting the budget. Second, a statistical section describing the organization, our community, and population; this information provides context for the upcoming fiscal year. Third, a summary section providing summary schedules of the proposed budget including revenue, expenditure, staffing, and debt service summaries. The fourth section includes the department pages describing the operations, proposed budget, staffing, goals and objectives, and performance data for each department. Fifth, the proposed capital expenditures and description of projects. The sixth section includes the City’s financial policies. The final section is a glossary of terms and acronyms. The budget document is geared toward providing clear and transparent information in a format that explains the link between City Council objectives and departmental operations.
The proposed budget is an $18.2 million operating plan and is balanced. The proposed budget grows by $3.2 million from the prior year budget mostly as a result of the voter approved one-percent sales tax increase (Measure D). This additional funding is allocated in accordance with the Service Level Sustainability Plan identified by the City Council and presented to voters prior to the election. That plan, which this proposed budget comports with, calls for using additional Measure D funding for priority services, deferred maintenance of infrastructure and roads, capital investment, debt repayment, and stabilization of reserves. Capital investment is less than what was proposed in the Capital Improvement Plan but includes the additional $292,100 for street and road repair as directed by the City Council when reviewing the Capital Improvement Plan. Staffing grows by 4.03 full-time equivalent employees. The primary reason for the proposed staff is to meet the requirements of completing 44% more capital improvements, in dollar terms, and twice the number of projects than in the prior year.

 

City of Carmel-by-the-Sea, California

Fiscal Year 2013-2014 Proposed Operating Plan & Budget

May 7, 2013

Four Noteworthy 8 January 2013 City Council Agenda Items

ABSTRACT: Four Noteworthy 8 January 2013 City Council Agenda Items, namely Announcements from Closed Session, Announcements from City Administrator, Update on the Water Replacement Project and Review and consider the Recirculated Final Environmental Report for the Flanders Mansion property, including consideration and determination of several specific questions related to the adequacy of the EIR and the conformity of the EIR to the General Plan, are presented. Supporting documents are embedded. 

CITY OF CARMEL-BY-THE-SEA

CITY COUNCIL AGENDA PACKET

Regular Meeting

Tuesday, January 8, 2013

4:30 p.m., Open Session

City Hall

East side of Monte Verde Street between Ocean and Seventh Avenues

Live & Archived Video Streaming

II. Roll Call

V. Announcements from Closed Session, from City Council Members and the City Administrator.

A. Announcements from Closed Session.

1. Public Employee Performance Evaluation - Government Code Section 54957. Title: City Attorney.

2. Public Employee Performance Evaluation - Government Code Section 54957. Title: City Administrator.

3. Property Negotiations – Government Code Section 54956.8, Real Property negotiations between City Administrator Jason Stilwell and Christine Sandin regarding the Sunset Cultural Center.

C. Announcements from City Administrator.

1. Completion of successful side fund payoff.

3. Present the proposed budget calendar for FY 2013/2014.

Budget Calendar for FY 2013-2014

VIII. Orders of Council 

A. Update on the Water Replacement Project. (Oral Report)

B. Review and consider the Recirculated Final Environmental Report for the Flanders Mansion property, including consideration and determination of several specific questions related to the adequacy of the EIR and the conformity of the EIR to the General Plan.

Recirculated Final Environmental Report for the Flanders Mansion Property

Five Noteworthy 6 November 2012 City Council Agenda Items

ABSTRACT: Five Noteworthy 6 November 2012 City Council Agenda Items, namely Announcements from Closed Session, Announcements from City Administrator, Receive Council agenda forecast, a Resolution approving a Conflict of Interest waiver for the City Attorney regarding providing legal services for the Monterey Peninsula Regional Water Authority (MPRWA) and Discussion of water supply projects and provide direction, as needed, are presented. Supporting documents are embedded.

CITY OF CARMEL-BY-THE-SEA

CITY COUNCIL AGENDA PACKET

Regular Meeting

Tuesday, November 6, 2012

4:30 p.m., Open Session

City Hall

East side of Monte Verde Street between Ocean and Seventh Avenues

Live & Archived Video Streaming

II. Roll Call

V. Announcements from Closed Session, from City Council Members and the City Administrator.

A. Announcements from Closed Session.

1. Property Negotiations – Government Code Section 54956.8, Real Property negotiations between City Administrator Jason Stilwell and Christine Sandin regarding the Sunset Cultural Center.

2. Property Negotiations – Government Code Section 54956.8, Real Property negotiations between City Administrator Jason Stilwell and Peterson Conway, Jr. regarding Flanders Mansion (APN 010-061-005).

C. Announcements from City Administrator.

3. Special Council Meeting-Pension Obligation Bonds: November 15.

4. Receive City financial reports for FY 2012-13 First Quarter.

City Quarterly Performance Report FY 2012-13

5. Receive status update on grant-funded projects and pending applications.

Status of Grant-funded Projects and Pending Applications 11-06-12

6. Outline, schedule and process for adopting City goals for FY 2013/2014.

VII. Consent Calendar

These matters include routine financial and administrative actions, which are usually approved by a single majority vote. Individual items may be removed from Consent by a member of the Council or the public for discussion and action.

F. Receive Council agenda forecast.

Council agenda forecast 11-06-12

G. Consideration of a Resolution approving a Conflict of Interest waiver for the City Attorney regarding providing legal services for the Monterey Peninsula Regional Water Authority (MPRWA).

Conflict of Interest waiver for City Attorney 11-06-12

VIII. Orders of Council

Discussion of water supply projects and provide direction, as needed.

City Fiscal Conditions in 2012: Research Brief on American Cities, NATIONAL LEAGUE OF CITIES

ABSTRACT: City Fiscal Conditions in 2012 by Michael A. Pagano, Christopher W. Hoene & Christiana McFarland, September 2012, Research Brief on American Cities, NATIONAL LEAGUE OF CITIES, is embedded. With regard to “Ending Balances,” “Prior to the recession, as city finances experienced sustained growth, city ending balances as a percentage of general fund expenditures reached an historical high for the survey of 25 percent.”

Note: Ratio of reserves as a percentage of general fund expenditures more than 75% in Carmel-by-the-Sea.

View Figure 10: Ending Balances as a Percentage of Expenditures (General Fund)

Measure D, a proposal to increase the sales tax from 7.25% to 8.25%, should be viewed in the aforementioned context. 

City Fiscal Conditions in 2012

City Fiscal Conditions in 2012 
by Michael A. Pagano, Christopher W. Hoene & Christiana McFarland
September 2012
Research Brief on American Cities
NATIONAL LEAGUE OF CITIES

‘Strong Cities | Strong State’

ABSTRACT: “Strong Cities | Strong State,” is “an innovative campaign designed to communicate the importance of local government in California residents’ everyday lives, and the people at work delivering critical municipal services.” A “City” of “Strong Cities | Strong State” is the City of Monterey.  Monterey’s “Priority-Based Budgeting:”  “The success of the program encouraged the City to continue its commitment to priority-based budgeting. During the current fiscal year, the program focuses internally as departments analyze their programs, staffing and costs. Next year, the City will once again reach out to its citizens for feedback through a comprehensive community survey. Ultimately, the City hopes its new approach to budgeting will monitor the performance of individual programs; help set fees more accurately, and assist in decision-making about where to invest and / or withdraw City resources.” 

Note: The Cities of Monterey and Del Rey Oaks are the only peninsula cities involved with Strong Cities | Strong State.

Strong Cities | Strong State.on facebook 

ADDENDUM:

Strong Cities | Strong State Brings Home the Value of Cities and City Services

BY EVA SPIEGEL WESTERN CITY / SEPTEMBER 2012 /

Public Employees Salaries DATABASE, California Pensions-City of Carmel-by-the-Sea

ABSTRACT: $2,235,167.87 represents the 2011 Gross Pension total for 73 former city employees (Source: California Pensions Public Employees Salaries Database, San Jose Mercury News). Note: Currently, the City employs 71.69 Full time Equivalent employees. TABLE I California Pensions-City of Carmel-by-the-Sea is embedded. For context, Actual Operating Budget Fiscal Year 2010-11 was $12,617,261 and Estimated Operating Budget Fiscal year 2011-12 was $13,385,611, City employees’ salaries and benefits amounted to $7,823,846 (62% of FY 2010-11 Operating Budget) and outsourced “Professional Services,” “Contractual Services,” “Outside Labor” and Subsidies exceeded $3.2 million in Fiscal Year 2010-11. Links to Infographic: 20 Reasons to Fix Pensions and California Public Sector Retirement Programs and Compensation A financial analysis prepared for The California Foundation for Fiscal Responsibility, Capitol Matrix Consulting, July, 2011, including excerpts from the Executive Summary, are provided in the ADDENDUM.

CBTS Pensions

TABLE I California Pensions-City of Carmel-by-the-Sea

ADDENDUM:
Infographic: 20 Reasons to Fix Pensions

California Public Sector Retirement Programs and Compensation A financial analysis prepared for The California Foundation for Fiscal Responsibility
Capitol Matrix Consulting
July, 2011

Executive Summary Excerpt 

CFFR Alternatives 

This report estimates the impact that two CFFR reform proposals would have on benefits received and on taxpayer costs.

The first reform, Alternative A, provides that current employee pension contributions must immediately increase as necessary to cover one-half of the expected cost of additional accruals. It also provides that future hires are to be covered by a retirement income program that is no more generous than a modified version of the pension and thrift savings plans that currently apply to federal employees; the modifications are a wage cap under the pension component (with an additional employer contribution for pay in excess of the cap under the thrift plan), and a requirement that employees pay at least one-half of the expected cost of future pension accruals.

Retiree healthcare benefits for future hires are to be no more generous than per the program currently applicable to state employees, modified to include significantly reduced employer subsidies. Finally, Alternative A would prospectively apply the full restrictions applicable to future hires to current employees upon declaration of a Fiscal Emergency by the relevant governmental entity. We modeled Alternative A by assuming that the most generous permitted provisions would apply. For a scenario where the reform would apply to current employees, we assumed that the Fiscal Emergency would be effective in early 2013.

The second proposal, Alternative B, limits employer contributions to cover the cost of pension or defined contribution benefits earned by current or future employees for service after June 2012 to 6 percent of payroll (9 percent for safety classifications). We modeled implementation of this in terms of a dollar-for-dollar matching arrangement within a defined contribution plan. This reform does not address retiree healthcare benefits.

Both Alternatives provide for additional Social Security replacement benefits on a pension basis for employees not covered by that federal program.

City of Carmel-by-the-Sea Fiscal Year 2012-2013 Adopted Budget & Operating Plan

Carmel Final Adopted Operating Budget FY 2012-2013 OCR Document
City of Carmel-by-the-Sea
Fiscal Year 2012-2013 Adopted Budget and Operating Plan

June 12, 2012

Sales Tax Increase, Hotel Fee: ANALYSIS, COMMENTS & QUESTIONS

ABSTRACT:  On Tuesday, 12 June 2012, the City Council will consider whether to place a referendum on the November ballot that would increase the sales tax rate from 7.25 percent to 8.25 percent.  Pertinent sections of the Fiscal Year 2012-2013 Proposed Budget are reproduced, including KEY ISSUES AFFECTING THE BUDGET, Revenue Stagnation, BUSINESS DATA and FINANCIAL POLICIES.  ANALYSIS, COMMENTS & QUESTIONS are presented.

KEY ISSUES AFFECTING THE BUDGET

Developing and maintaining a balanced budget involves a number of trade-offs but often includes a handful of key issues. Three key issues affecting the City’s budget are 1) revenue stagnation, 2) the cost of providing retirement benefits, and 3) ambulance service.

Revenue Stagnation

One key issue for the past three budget cycles was flat or declining revenue. This issue is highlighted in the financial forecast discussed above and described in detail in the March 20, 2012 Five-Year Financial Forecast. The revenue from the City’s three primary revenue sources (property tax, sales tax, and transient occupancy tax) is projected to increase $580,000 from the Fiscal Year 2011-2012 budget.  However, use of reserves (primarily for one-time capital expenditures), loss of State intergovernmental revenue, and lower interest earnings offset the gains in the primary revenues. As a result, total sources are proposed to be lower in Fiscal Year 2012-2013 than the Fiscal Year 2011-2012 levels.

BUSINESS DATA

Three Largest Revenue Sources:

Revenue Source (Dollars in Millions)	FY05-06 Actual	FY06-07 Actual	FY07-08 Actual	FY08-09 Actual	FY09-10 Actual	FY10-11 Actual
Property Tax	$3.346	$3.726	$3.867	$4.066	$4.189	$4.158
Transient Occupancy Tax	$3.879	$4.209	$4.395	$3.787	$3.830	$3.879
Sales Tax	$2.169	$2.143	$2.340	$2.181	$1.620	$1.806

FINANCIAL POLICIES

The City recognizes that its primary revenue sources are locally generated, especially TOT and sales tax revenue, and for the most part this revenue is largely generated by non-residents. Efforts to ensure continued reliability in these revenue sources need to be maintained and with additional efforts to develop and diversify other revenue sources as applicable. The City actively practices monitoring, auditing and collecting all locally generated taxes.

SOURCE: City of Carmel-by-the-Sea

Fiscal Year 2012-2013 Proposed Budget

April 24, 2012

ANALYSIS, COMMENTS & QUESTIONS

• If the City Council votes to place a referendum on the November ballot and if it is approved by a simple majority of voters, a sales tax increase from 7.25% to 8.25% would represent an increase of 13.8%

• The sales tax – the third largest revenue source after property tax and transient occupancy tax – is already down by 22.8% from three years ago, FY 07-08.

• With an increase in the sales tax, overall sales could decline, small businesses that are barely holding on now may be forced to close their doors, and importantly, revenue projections will probably not double sales tax income from $1.806 to $4 million per year, as Mayor Jason Burnett told Mary Schley (The Carmel Pine Cone), based on past results of revenue estimates by other government entities.

• New revenues arguably may be needed, but the best way to increase revenues is to create a favorable business climate to attract business owners with the goal of 100% business occupancy in the downtown commercial district.  With full business occupancy, overall sales will increase and the City will see a healthy growth in city revenues as a result.

• Question:  Does it make economic and fiscal sense to increase the tax rate of the tax which generates significantly less than the first and second revenue sources and is the only revenue source which has been flat or declined since FY 2005/06?

• Given that “The City recognizes that its primary revenue sources are locally generated, especially TOT and sales tax revenue, and for the most part this revenue is largely generated by non-residents,” is it fair to place the entire tax increase burden on visitors and tourists in the form of a sales tax increase and a hotel fee? 

Four Noteworthy 12 June 2012 Special City Council Meeting Agenda Items

ABSTRACT: Four Noteworthy 12 June 2012 Special City Council Meeting Agenda Items, namely a Resolution declaring the City’s intent to establish the Lodging Hospitality Improvement District, Consideration of approving the Sales Tax Referendum, a Resolution adopting the Fiscal Year 2012-2013 Budget and a Resolution approving the Memorandum of Understanding regarding the Maintenance of Effort requirements related to Proposition 172 funding, are presented.  The SPECIAL CITY COUNCIL MEETING PACKET is embedded.

CITY OF CARMEL-BY-THE-SEA

CITY COUNCIL AGENDA PACKET

Special Meeting

Tuesday, June 12, 2012

4:30 p.m., Open Session

Council Chambers

East side of Monte Verde Street between Ocean and Seventh Avenues

Live & Archived Video Streaming

II. Roll Call

V. Orders of Council

A. Consideration of a Resolution declaring the City’s intent to establish the Lodging Hospitality Improvement District.

B. Consideration of approving the Sales Tax Referendum.

C. Consideration of a Resolution adopting the Fiscal Year 2012-2013 Budget.

D. Consideration of a Resolution approving the Memorandum of Understanding regarding the Maintenance of Effort requirements related to Proposition 172 funding.

City Council June 12 2012 Packet

SPECIAL CITY COUNCIL MEETING PACKET, 12 June 2012

One Noteworthy 17 May 2012 Special City Council Agenda Item

RELATED NEWS ARTICLE:  Council labors through $13.4M spending plan, MARY SCHLEY, The Carmel Pine Cone, May 25, 2012, 9A


ABSTRACT:  One Noteworthy 17 May 2012 Special City Council Agenda Item, namely Study session and public hearing to review/adopt Fiscal Years 2012/13 – 2014/15 Triennial Budget, is presented.  The SPECIAL CITY COUNCIL MEETING PACKET is embedded.

SPECIAL CITY COUNCIL MEETING

Thursday, May 17, 2012– 4:30 p.m.

Council Chambers

East side of Monte Verde Street between

Ocean and Seventh Avenues

Live & Archived Video Streaming

II. Roll Call

IV. Orders of Council

      A. Study session and public hearing to review/adopt Fiscal Years 2012/13 – 2014/15 Triennial Budget.

1) Overview

2) Revenue

3) Operating Budgets

4) Items Not Funded in the Proposed Budget

5) Preliminary Council Deliberations

Special City Council Meeting 17 May 2012 Ocr Document

Special City Council Meeting Packet 17 May 2012

Alternative to Raising Taxes: Reform versus ‘Tweaking’

ABSTRACT:  As Rhode Island’s treasurer Gina Raimondo states, A lot of "people say we've done pension reform when all they've done is tweaked something." Rhode Island’s pension reform law “shifts all workers from defined-benefit pensions into hybrid plans, which include a modest annuity and a defined-contribution component. It also increases the retirement age to 67 from 62 for all workers and suspends cost-of-living adjustments for retirees until the pension system, which is only about 50% funded, reaches a more healthy state.”  HIGHLIGHTS of THE WEEKEND INTERVIEW and link to the Interview are presented.

HIGHLIGHTS of THE WEEKEND INTERVIEW:

“...Unfortunately, public pensions all over the country are gobbling up more and more taxpayer money and producing nothing in return but huge deficits. It's not even certain whether employees in their 20s and 30s will retire with a pension, since many state and municipal pension systems are projected to run dry in the next two to three decades.”

“That included Rhode Island's system until last year, when Ms. Raimondo drove perhaps the boldest pension reform of the last decade through the state's Democratic-controlled General Assembly. The new law shifts all workers from defined-benefit pensions into hybrid plans, which include a modest annuity and a defined-contribution component. It also increases the retirement age to 67 from 62 for all workers and suspends cost-of-living adjustments for retirees until the pension system, which is only about 50% funded, reaches a more healthy state.”

“Several states have increased the retirement age or created a new tier of benefits for future workers, but reforms that only affect not-yet-hired employees don't save much money. A lot of "people say we've done pension reform when all they've done is tweaked something," Ms. Raimondo points out. "This problem will not go away, and I don't know what people are thinking. By the nature of the problem, it gets bigger and harder the longer you wait."”

THE WEEKEND INTERVIEW

Updated March 23, 2012, 7:37 p.m. ET

The Democrat Who Took on the Unions

Rhode Island's treasurer Gina Raimondo talks about how she persuaded the voting public, labor rank-and-file and a liberal legislature to pass the most far-reaching pension reform in decades.