Street repair is one of the major deferred maintenance costs the city faces. Photo: Tracey Taylor A ballot initiative to force the city to do biennial reports on obligations for employee and retiree expenses and for Berkeley’s physical infrastructure and capital assets appears likely to appear on the ballot in the November election, according to […]
City pensions
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Berkeley faces difficult path to funding pension liabilities
The City Council heard a sobering report from outside actuary John Bartel at its special meeting on Tuesday night this week. “I wore my Valentines Day tie, but that’s unfortunately the only good news I have here,” Bartel said. “Your contribution rate will not be going down. It will actually be going up in the […]
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City budget faces $1.8 million mid-year shortfall
City Manager Phil Kamlarz The City Council tonight will hear a report on mid-year budget revisions for the current fiscal year, designed to respond to a revenue shortfall of $1.8 million. According to City Manager Phil Kamlarz, planned savings are already on track for $1 million. The remaining $800,000 of the deficit will be covered […]
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Council faces tough decisions on unfunded liabilities
Mayor Bates: “People will need to start contributing.” Mayor Bates: “People will need to start contributing.” The Berkeley City Council special session on the $310 million — or higher — unfunded liability on promised employee benefits revealed the difficult choices faced by the city. A presentation by budget manager Teresa Berkeley-Simmons made the root of […]
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Special council session to consider employee benefits
City Auditor Ann-Marie Hogan The City of Berkeley’s unfunded liability for employee pension benefits will be the focus of a special City Council work session at 5:30 p.m. before the regular council meeting next Tuesday. In an email about the session, City Auditor Ann-Marie Hogan wrote, “The City Council, City Manager, and City employees will […]
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Berkeley auditor report shows $310m benefit debt
Berkeley Old City Hall. Photo: Wikimedia Commons. The city of Berkeley has an unfunded liability for promised employee benefits of $310 million — which equates to $197,000 for every full-time city employee — according to an eye-opening story by Daniel Borenstein published in the Contra Costa Times on January 8. The piece, which takes as its starting […]
