Board of Aldermen Page 7
May 24, 2016
Human Affairs Committee 20.0.0... cece ccecceeccceeececeeeeeeeseeeeeaeseaeeeaeeeaeeeaes 05/09/16
There being no objection, President McCarthy declared the report of the May 9, 2016
Human Affairs Committee accepted and placed on file.
Planning & Economic Development Committee .............. eee 05/03/16
There being no objection, President McCarthy declared the report of the May 3, 2016
Planning & Economic Development Committee accepted and placed on file.
WRITTEN REPORTS FROM LIAISONS - None
CONFIRMATION OF MAYOR'S APPOINTMENTS
Conservation Commission
William S. Parker (New Appointment) For a Term to Expire: December 31, 2018
1 Rockland Street
Nashua, NH 03064
e Tabled until 6/14/16
UNFINISHED BUSINESS — RESOLUTIONS
R-16-015
Endorsers: Mayor Jim Donchess
Alderman Ken Siegel
Alderman-at-Large Brian S. McCarthy
Alderman-at-Large Lori Wilshire
Alderman Richard A. Dowd
Alderman June M. Caron
Alderman-at-Large Michael B. O’Brien, Sr.
ESTABLISHING AN EXPENDABLE TRUST FUND FOR STATE EMPLOYER PENSION COSTS
AND APPROPRIATING $2,230,000 FROM FUND BALANCE ASSIGNED FOR THIS PURPOSE
INTO THE EXPENDABLE TRUST FUND
Given its fourth reading;
MOTION BY ALDERMAN SIEGEL TO AMEND R-16-015 IN ITS ENTIRETY BY REPLACING IT
WITH THE GOLDEN ROD COPY PROVIDED WITH THE AGENDA
ON THE QUESTION
Alderman Siegel
| want to go over the changes in the “plan B.” The major objection that | heard from several of my colleagues
on the Board was the feeling that an expansion of the spending cap limits was an unfortunate by-product in
that transferring the entire $2.23 million in one lump and divvying it up amongst three different years while
potentially a desirable outcome for dealing with the pension issue had the undesirable side effect of
expanding the spending cap. | thought about it and came up with an alternate plan which was to recognize
that we have a known additional pension obligation of $350,000 and for this year we have the fund balance
that was designated for that purpose and that it would make sense to transfer that over and leave years two
and three unfunded in anticipation of the new numbers. The plan modifies the title of the legislation to have it
change to $350,000 and it modifies the amount and the year so we transfer just that amount this year and
years two and three will be at the discretion of the Board in future years as we address the pension overhang
that we will have to address. After this discussion if this amendment passes we can discuss the greater
