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14 results for “pension and debt service”

  • CITY OF SYRACUSE, NEW YORK Financial Statements as of June 30, 2023

    Jun 30, 2023

    ·Syracuse, NY
    Budget

    The City of Syracuse, New York financial statements as of June 30, 2023 present a comprehensive audit report including government-wide and fund financial statements, along with management's discussion and analysis. The document contains detailed financial information organized across governmental funds, proprietary funds, fiduciary funds, and component units, with supplementary schedules covering special revenue funds, debt service, capital projects, pension liabilities, and other postemployment benefits. The statements are accompanied by an independent auditor's report and required supplementary information related to budgetary comparisons and federal awards.

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    budgetfinancial statementsauditpensionsfiscal year
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  • City of Dearborn Public Hearing 2025–2026 Budget List of Documents Page(s) A.

    Dearborn, MI
    Budget

    The City of Dearborn held a public hearing on its proposed 2025–2026 budget as of May 1, 2025, presenting a balanced General Fund budget expected to contribute $230,689 to the fund balance reserve. The budget faces financial challenges including revenue growth falling short of expenditure inflation, state taxation limitations, and rising retirement and debt service obligations, with personnel and non-discretionary spending comprising 79% of general fund uses. Revenue is projected to increase $3.6 million (2.5%), primarily from property tax gains of $1.7 million and increased charges for services of $1.1 million, while expenditures increase $3.6 million (2.4%), largely due to $5.7 million in additional wages and benefits; budget priorities allocate 70% of subsidies to Public Safety, followed by Administrative (11%), Public Works & Facilities (9%), Parks & Recreation (8%), and Economic Development (2%).

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    budgetpublic safetypension obligationsproperty taxrevenue growth
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  • Tucsonaz

    Tucson, AZ
    Budget

    The City of Tucson's Annual Comprehensive Financial Report for the fiscal year ended June 30, 2021, presents comprehensive financial statements prepared by the Accounting Operations division of the Business Services Department. The report includes government-wide financial statements, fund financial statements for governmental, proprietary, and fiduciary funds, detailed notes covering accounting policies and significant financial matters including pension plans, debt obligations, and capital assets, along with required supplementary information on budgeted versus actual revenues and expenditures. The document received a Certificate of Achievement for Excellence in Financial Reporting and provides detailed disclosures on the city's financial position, including information on the Tucson Supplemental Retirement System, Public Safety Personnel Retirement System, and other post-employment benefits.

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  • O p e r a t i n g B u d g e t 2 1 Operating Budget OVERVIEW

    Boston, MA
    Budget

    The FY25 Operating Budget totals $4.64 billion, representing an 8% ($345 million) increase over FY24, driven primarily by property tax revenue growth which accounts for 71% of estimated revenue. Of the budget increase, 25% is allocated to education (Boston Public Schools and charter school tuition), 31% to departmental expenses and strategic investments including the integration of the Boston Planning and Development Agency, 18% to pension and debt service, and 26% to a reserve for collective bargaining. The budget emphasizes maintaining basic city services, public safety, climate response, and affordability through sound fiscal management and service improvements.

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    budgetproperty taxeducation fundingpublic safetypension and debt service
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  • Research in the Public Interest Worcester Regional Research Bureau, Inc.

    Worcester, MA
    Budget

    The Worcester Regional Research Bureau issued a report breaking down the City of Worcester and Worcester Public Schools' Fiscal Year 2023 budget, which took effect July 1, 2022. The document explains the city's Council-Manager form of government structure, including the roles of the City Council (11 members), City Manager, Mayor, School Committee, and Superintendent in the budget process, where expenditures must balance revenues and the City Council can only reduce—not increase—line items in the proposed budget. The report addresses how municipalities must balance fixed costs like debt service and pensions while prioritizing areas such as education, public safety, economic development, and public services.

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    budgetpublic schoolspublic safetyeconomic developmentmunicipal finance
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  • FY 2026 Adopted Budget - Download (PDF)

    Evanston, IL
    Budget

    The FY 2026 Adopted Budget document, effective January 1, 2026 and updated January 21, 2026, is a comprehensive 420-page municipal budget covering all city funds and expenditures. The document includes revenue and expenditure schedules, fund balance projections, a 5-year capital improvements plan, and detailed breakdowns across 28 named funds including the General Fund (100), Parks and Recreation Fund (130), Water Fund (510), Sewer Fund (515), and multiple Tax Increment Financing (TIF) districts and Special Service Area (SSA) funds. Major departmental sections cover the Police Department, Fire Department, Public Works Agency, Community Development, Health & Human Services, and Library services, with additional allocations for pension transfers, debt service, and capital improvements. The budget reflects corrections to pension funding policy language and reorganization of fund balance projections to highlight changes exceeding 10 percent.

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  • City of Tucson, Arizona Annual Comprehensive Financial ...

    Tucson, AZ
    Budget

    The City of Tucson's Annual Comprehensive Financial Report for the fiscal year ended June 30, 2023, presents the municipality's complete financial statements, including government-wide and fund-level financial data prepared by the Accounting Operations division of the Business Services Department. The report contains audited financial statements, management's discussion and analysis, detailed notes on accounting policies, and supplementary information covering governmental funds, proprietary funds, fiduciary funds, and multiple pension plan disclosures. The document received a Certificate of Achievement for Excellence in Financial Reporting and includes comprehensive information on the city's net position, revenues, expenditures, capital assets, debt obligations, and long-term liabilities.

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    budgetfinancial reportingcapital assetsdebt obligationspension plans
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  • Budget Highlights City Overview

    Tucson, AZ
    Budget

    The City of Tucson's Fiscal Year 2026 budget was submitted by the City Manager on April 22, 2025, and adopted by the Mayor and Council on June 6, 2025. The citywide expenditure budget totals $2.41 billion, representing a $19 million increase from the prior year, with major allocations directed toward employee compensation adjustments ($23.6 million), public safety operations, capital improvements, violence prevention and intervention programs, and technology sustainment. Key expenditures include salaries and wages ($277.3 million, 33.62%), professional services ($125.9 million, 15.28%), pension obligations ($85.1 million combined), and debt services ($54.1 million).

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    budgetemployee compensationpublic safetycapital improvementsviolence prevention
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  • City of Worcester Financial Overview Timothy J. McGourthy

    Worcester, MA
    Other

    This financial overview document presents Worcester's fiscal structure and priorities as delivered by Chief Financial Officer Timothy J. McGourthy. The city operates under significant state-mandated constraints, with approximately $920 million in FY25 budget revenue derived from limited sources (state aid, property taxes, local fees), while discretionary municipal operations comprise only 22% of total spending due to mandatory obligations in education, debt service, and pension costs. Worcester maintains a Financial Integrity Plan established since 2006 that includes a general fund reserve of 10.7% for FY25, an irrevocable OPEB trust, and a net free cash policy directing funds toward bond rating stabilization, OPEB obligations, and operations, with an average residential tax bill of $5,266 funding services ranging from K-12 education and public safety to libraries and public health services.

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  • CITY OF JERSEY CITY

    Jersey City, NJ
    Other

    Mayor Steven M. Fulop introduced Jersey City's FY 2026 budget on April 18, 2025, proposing zero municipal tax rate increase for residents while maintaining full city services—marking the ninth of eleven budgets under his administration with tax increases of 2% or less. The budget includes $66 million in debt service paydown, $6 million for union contract settlements, new police and firefighter hires, full pension fund funding with cost-of-living adjustments, and investments in affordable housing and infrastructure, while managing challenges including rising insurance premiums and reduced federal and state grant funding. The municipal portion of average property tax bills has decreased to 35% from 48% over two years, with $1.6 billion in new ratables added to the tax rolls through economic development efforts.

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    budgettax increasepolice hiringinfrastructureaffordable housing
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  • FY 2023 Adopted Budget - Download (PDF)

    Evanston, IL
    Budget

    The City of Evanston adopted its FY 2023 Budget effective January 1, 2023, as presented in a comprehensive 501-page budget book last updated January 9, 2023. The document organizes spending across multiple funds including the General Fund, Human Services Fund, Library Fund, various Tax Increment Financing (TIF) districts, Special Service Area (SSA) funds, and utility funds (Water, Sewer, Solid Waste). The budget covers departmental allocations for City Council, City Clerk, Law Department, Police Department, Fire Department, Parks & Recreation, Public Works Agency, and Community Development, along with pension transfers for public safety. The document also outlines a 2023 Capital Improvements Plan and a 5-year capital improvements plan, position control information, and debt service obligations across multiple debt series.

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  • City of Houston ACFR FY2025

    Houston, TX
    Budget

    The City of Houston's FY2025 Annual Comprehensive Financial Report (ACFR) presents a complete overview of the city's financial position, including government-wide financial statements, fund-specific statements, and required supplementary information on pensions and post-employment benefits. The document contains detailed financial statements across multiple fund categories including the General Fund, Debt Service Fund, Capital Projects Fund, ARPA Fiscal Recovery Fund, and various proprietary and fiduciary funds. The report also includes management's discussion and analysis, an independent auditor's report, and individual fund schedules for governmental and enterprise operations.

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    budgetfinancial statementsdebt servicecapital projectspension benefits
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  • Bethlehem-pa

    Bethlehem, PA
    Other

    Article 151 of the City of Bethlehem's ordinances establishes and governs the Firemen's Pension Fund, created under authority of the Third Class City Code. The fund charges paid Fire Department members 7% of their pay, plus an additional 1% to cover benefits for surviving spouses and children under age 18 of retired, killed, or deceased members. The City must annually appropriate to the fund no less than one-half of one percent of all City taxes levied (excluding debt service taxes), beginning in 1949 and continuing thereafter. The fund is invested and merged with joint funds under Article 156 of the City's ordinances, with annual appropriations made in accordance with Pennsylvania's Act 205 of 1984 (Municipal Pension Plan Funding Standard and Recovery Act). Membership in the fund is voluntary for all paid firemen employed in the Bureau of Fire.

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  • 2024 Budget Statement and Report

    Hazleton, PA
    Budget

    The City of Hazleton's 2024 proposed operating budget totals $25,025,850 across six fund budgets, with the General Fund comprising $15,943,945, the Pension Fund $6,629,877, Recreation Fund $201,150, Airport Fund $895,730, Debt Service Fund $519,667, and Liquid Fuels Fund $835,481. After successfully exiting ACT 47 in 2023, Mayor Jeff Cusat's administration is proposing a 1.15 million dollar increase in real estate taxes to address three major obligations, while recommending a 50 percent reduction in ACT 205 EIT taxes, with the expectation that most city workers will see a net tax reduction. The Debt Service Fund sees a significant increase in 2024 due to a balloon principal payment related to unfunded debt borrowing from 2018. The budget was presented by Mayor Jeff Cusat and City Administrator Dan Lynch.

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