AMENDED
R-16-015
RESOLUTION
ESTABLISHING AN EXPENDABLE TRUST FUND FOR STATE EMPLOYER
PENSION COSTS AND APPROPRIATING $350,000 FROM FUND BALANCE
ASSIGNED FOR THIS PURPOSE INTO THE EXPENDABLE TRUST FUND
CITY OF NASHUA
In the Year Two Thousand and Sixteen
RESOLVED by the Board of Aldermen of the City of Nashua that pursuant to NH RSA
31:19-a, the City of Nashua hereby establishes an expendable trust fund for the purpose of
funding the city’s employer contributions to the New Hampshire Retirement System. This is
established to fund pension costs in excess of yearly budgeted pension costs appropriations.
Funds may be expended or transferred from this fund for this purpose by the Financial Services
Division. Any balance remaining in this expendable trust fund at each fiscal year end will not
lapse or be closed out to the General Fund, but will remain in this expendable trust fund. This
expendable trust fund will be discontinued on June 30, 2019. At the time the fund is
discontinued, any remaining balance shall be transferred into the General Fund.
FURTHERMORE, BE IT. RESOLVED by the Board of Aldermen of the City of Nashua
that $350,000 is appropriated from fund balance assigned for this purpose into this expendable
trust fund.
As this is a resolution which supplements the FY2016 Adopted Budget, the following
information is provided pursuant to NRO § 5-145, E:
Currently, the accumulated sum of all appropriations of the FY2016 combined annual municipal
budget is $260,536,617. The FY2016 dollar amount under the limit established by City Charter
Section 56-c is $40,276
If this resolution passes, the accumulated sum of all appropriations of the FY2016 combined
annual municipal budget will be $260,886,617. The FY2016 dollar amount over the limit
established by City Charter Section 56-c would be $309,724.
THEREFORE, BE IT RESOLVED by the Board of Aldermen of the City of Nashua that
under the authority of the City of Nashua Charter Section 56-d, the amount of $350,000
representing certain principal and interest on municipal bonds included in the FY2016 Adopted
Budget is exempt from the budget limitation imposed by City Charter Section 56-c, resulting in
the FY2016 dollar amount under the limit of $40,276.
