Special Board of Aldermen Public Hearing Page 46
CFO Griffin
Correct. You just indicated several areas that includes retirement. On page 21 is to calculate the
total amount in the general fund operating budgets. As you know, the green pages are totally
dedicated to solid waste enterprise and wastewater.
Fred Teeboom
How much more retirement money is that in the green pages.
CFO Griffin
| could get you that number.
Fred Teeboom
But that’s the main point. So $24 million is not even the full amount. It’s even more.
CFO Griffin
Correct.
Chairman Dowd
The next area is special revenue funds, city special revenue funds. Any questions on any of the city’s
special revenue funds?
Fred Teeboom
| couldn’t find it either. It’s not on the special revenue fund. It’s not under the blue pages which you
call the trust funds. | mentioned earlier a long time ago the Public Works Department. The Public
Works Department has their own retirement money. Their own retirement fund and was smart
enough not to join the cabal up at the State the $900 million theft for the rest of it. That’s about $40
million if | remember right. They have 84 percent funded. Is that money on the special revenue
funds? Is that money on the trust funds or is it some place that’s not in the budget book at all?
CFO Griffin
You're correct. The Board of Public Works has its own pension fund. It’s managed by money
managers. Contributions are made by the employees in the city for payroll. |’ll have to look quick to
see if it’s in here but | don’t think it’s included in here.
Fred Teeboom
Why is it not in there?
CFO Griffin
Well the appropriations Mr. Teeboom are certainly included as noted in the Department of Public
Works budgets as well as the enterprise funds. | could call on Treasurer Fredette who is one of the...
