Public Meeting Notice Location:
Goodyear City Hall
190 N. Litchfield Rd.

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File #: 2020-6857    Version: 1 Name:
Type: Miscellaneous File Status: Passed
File created: 2/14/2020 In control: City Council Regular Meeting
On agenda: 2/24/2020 Final action: 2/24/2020
Title: ADOPT FINANCIAL POLICIES AND THE PUBLIC SAFETY RETIREMENT SYSTEM FY2021 FUNDING POLICY
Attachments: 1. Council Action Report, 2. Attachment 1 - PSPRS FY2021 Pension Funding Policy, 3. Attachment 2 - Financial Policies with marked up changes including Construction Sales Tax revision, 4. Attachment 3 - Financial Policies with marked up changes shown with no change in Construction Sales Tax, 5. Presentation

Title

ADOPT FINANCIAL POLICIES AND THE PUBLIC SAFETY RETIREMENT SYSTEM FY2021 FUNDING POLICY

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RECOMMENDATION:

Adopt the:

-                     Public Safety Personnel Retirement System FY2021 Pension Funding Policy as presented in Attachment 1, and

 

-                     Financial Policies as presented in Attachment 2 which includes an increase from $4.5 million to $5.1 million in the amount of Construction Sales Tax treated as ongoing General Fund revenue.  

 

If the Council does not desire to change the Construction Sales Tax portion of the policy, Attachment 3 should be approved as the Financial Policies.

 

(Lauri Wingenroth, Finance Manager-Budget and Research)