Meeting on the 10th for possible action. If there is any lingering issues or questions, a special meeting could be called the following week. It happened in the past. That is a possibility in case there are any issues of the advance of the second submissions. Now that the citys budget process is a 2year process, the first 1 fiscal year 20162017 is the first one approved. No major changes from the current year. I want how highlight some items. The main issue on the budget is the annualization in the a lot of issues in the department with regards to mainly positions. Most positions were funded at. 7 and. 5. Those positions are annualized fully for 1617. Originally in the budget we had two fire academies budget for 16, 17 and 18. However given the award last year of the federal safer grant we were able to add an Academy Grant to that. We are going to have three academies, one in june, one in october and one projected for march 17th. I briefly wanted to update the commission on the departm
So right now, were asking if any other incumbents in the meeting please come forward good morning, supervisors. Im johnthanasia goldberg i was appointed in september the of 2011. The first year and a half i sat on the committee was an educational process person briefed on a lot of the projects background and i was really looking forward to going ahead and making a full recommendation at the end of the term. The idea of two year terms is something i endorse, however, i feel theres a need for contingent among c ac members and that our views can be catered out and represented throughout the entire c ac existence. Thank you for your time thank you, mr. Goldberg any other incumbents. If there are any other applicants i did see paul and other applicants please come forward morning im paul and im an applicant for to be a member for the brt Citizens Advisory Committee ive lived in the district for 3 years, however, all of us know we could have more of an improvement and i have long been active
Projector, please. Right. Again pointing on this column, the market value assets at the end of the financial, what they call the great recession, just under 12 billion. And then increasing to 17 billion which reflected a market value funding status of 84 . I am happy to report with the markets so far this year, through the end of april, we have exceeded 19 billion in assets. And on target to return over 14. 5 return for the current fiscal year. Again as long as the Financial Markets hold through june 30, it seems arbitrary but that is the time that we do a snapshot and measure the health of the plan. So over the four years since the great recession, as its called, we have increased the market value of this trust approximately 5. 1 billion. And at the same time over this same period we paid in excess of 3. 5 billi 3. 5 billion in benefi. Can you talk about the difference of actuary value and market value. The actuary is what they determine it will grow, which is currently 7. 58 , and ea
Budget and finance committee, i am mark farrell, i will chairing this meeting, and want to thank sfgtv for taping this meeting. Clerk, any announcements . Yes, chair, please silence all phones and submit documents to be submitted to the clerk, as today will appear on the may 33 meeting. Call item 1. Item 1, proposed budget and appropriation ordinance for selected departments as of may 1, 2014, fiscal yearending june 30, 2015 to june 30, 2016. Item 2, proposed annual salary ordinance for selected departments for yearending june 30, 2015 and june 30, 2016. Item 3, hearing for mayors proposed budget for selected departments, for fiscal year 20142015, and 20152016. Thank you very much, we have a continuing number of city departments coming before us, three departments, Child Support services, retirement system and municipal transportation agency, with that we will start with Child Support services. Good morning chair farrell and members of the committee, i am carol roy, head of child servi
Membership broke out by active and vested and reciprocal members. Active members over a fiveyear period are still in a decrease from the level of active employees we had as members in 200809. And you can see the effects of the streamlining of the positions. Going through and coming out of that difficult period. We also show the active to retiree ratio and you see that its steadily declining but not as quickly over the last three years in the prior two years of this fiveyear snapshot. And you will notice that retired members increase by over 16 over the same fiveyear period. And that we continue to have a net increase, we measure obviously some retirees will end up eventually dying. But we still have a net increase of nearly 1,000 a year of retirees going into payment status. The next page tracks the funding levels over the last five years. You notice in 200809, we had market values assets just under 12 billion. And that was the end of the difficult Financial Markets in 200709. Mr. Chai