The Mayor and Finance Director Stacy Smith answered questions and reported on the issue of funding the Employees Retirement System (Public Works). On April 28, 2018, voters overwhelmingly rejected (78% to 22%) a 20-year, 15-mill property tax proposal to provide supplemental funding of the system . Now What? The existing funding mechanism is inadequate by about $900,000 annually and, as time goes on, paying retirees becomes more critical and is expected to become impossible by 2021. The Mayor rejected such drastic measures as going to a volunteer fire department or bankrupting the City. Instead, she committed to continued efforts and said to the retirees, ”I got your back”.
Video of the complete meeting will be on our Government Meetings page as soon as it uploads.