HomeMy WebLinkAboutReso - CC - 121-2018RESOLUTION NO. l2l - 2018
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF BURLINGATTIE APPROVING
THE CITY'S RESPONSE TO THE SAN TATEO COUNTY CtVtL GRAND JURY REPORT:
.SOARING CITY PENSION COSTS - IME FOR HARD CHOICES"
WHEREAS, lhe 20'17-2018 San Mateo County Civil Grand Jury released a report entitled,
"Soaring City Pension Costs - Time for Hard Choices' on July '17, 2018; and
WHEREAS, the report concludes that there are a number of options to consider in
addressing these rising pension costs; and
- WHEREAS, the Grand Jury has recommended that each city report, communicate, and
publicly discuss these options, and develop a financial plan to address rising pension costs; and
WHEREAS, the City Council has received the proposed draft response letter attached
hereto as Exhibit A.
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF BURLINGAME RESOLVES ANO
ORDERS AS FOLLOWS:
That the letter in response to the San Mateo County Grand Jury Report, "Soaring City
Pension Costs - Time for Hard Choices' is approved, and the Mayor is authorized to sign and
convey said letter on behalf of the City.
Michael B
l, Meaghan Hassel-Shearer, City Clerk of the City of Burlingame, certify that the foregoing
Resolution was introduced at a regular meeting of the City Council held on the 17h day of
September, 2018 and was adopted thereafter by the following vote:
COUNCILMEMBERS: BEACH, BROWNRIGG, COLSON, KEIGHRAN, ORTIZ
COUNCILMEMBERS: NONE
COUNCILMEMBERS: NONE
M
AYES:
NOES:
ABSENT:
eaghan l-Shearer, City Clerk
WHEREAS, the report summarizes the impacl of recent changes in CaIPERS actuarial
assumptions on the funding status of municipal pension obligations, which result in rising pension
costs for cities within the county of San Mateo; and