Commission to discuss pensions, budget

 

Commission to discuss pensions, budget

 

Date: April 15, 2010
by: Kurt Schultheis | City Editor

 
 

The Longboat Key Town Commission will discuss budget and pension issues at its regular workshop today.

The first item on the agenda has to deal with a proposed $100,000 comprehensive study of the town’s three pension plans.

Town Manager Bruce St. Denis, the Town Commission and pension board trustees are expected to discuss whether the study should be performed to look at various alternative options for the plans, which contain more than $25 million in unfunded liabilities.

St. Denis also will give a preliminary budget update today. The town manager will tell the commission that another 10% drop in property values, another pension shortfall and the addition of two police officers will leave the town with a projected $1.88 million budget deficit for the 2010-11 fiscal year.

St. Denis explains in a preliminary budget memo that Police Chief Al Hogle has expressed concerns with police coverage and at least two more officers are needed.

The commission also will consider approving a $225,000 budget transfer for a project that will bring 7,500 cubic yards of sand to the north end of the island. That project could begin as early as Friday and must be completed before the start of sea turtle nesting season May 1.

Also at its workshop today at Town Hall, 501 Bay Isles Road, the commission will:

Review:
• A draft resolution prepared by the town attorney addressing term limits as applied to partial term limits.

• A draft ordinance that places a referenda question on the March 2011 town ballot that addresses term limits as applied to partial terms.

Discuss:
• The possibility of making some changes to the town charter in the future in regards to commissioner requirements.

• An opportunity for the town to receive designation as "Tennis Town USA,” which comes along with a $100,000 first prize award.

To see what the commission decided, check www.YourObserver.com later today for a workshop wrap-up update.

Contact Kurt Schultheis at kschultheis@yourobserver.com.
 

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