MERIDEN (March 5, 2024) - Acting 城市经理 Emily E. Holland has presented her proposed City budget for fiscal year 2025, which begins July 1, 2024.
This budget proposes a 3.3% increase in expenditures, primarily driven by a an increase of $2.800万.6%的公司.) within Employee Benefits. Key drivers within the Budget are both the City Pension Plan (up $1.2M) and healthcare costs (up $1.1M) representing a 12.增加5%.
Other key drivers include Public Safety. The 足彩app 警察 Department increased its budget by $0.7M (4.5%), due to increases within staffing levels, contractual salary and overtime. Additionally, the 足彩app 火 Department budget contains an increase of $0.5M (5%) based on salary increases, increased overtime and new Protective Equipment.
This budget contains a reduction in State Revenue of $548,425 and assumes a return on investment (ROI) assumption rate for both Pension and Other Post 就业 Benefits (OPEB) at 7.00%. It should be noted that the City will be completing a full 2024 Pension Valuation and will be closely monitoring the volatility of the market over the next five months and make the necessary adjustments to our Asset Portfolio should conditions warrant.
附件是 complete FY 2025 proposed budget.