At their October 2, 2019 Special Meeting, the City Council received two presentations regarding municipal finance:
Marin County Council of Mayors and Councilmembers (MCCMC) Pension Report
Summary: This report, co-authored by Councilmember John McCauley and Larkspur Councilmember Larry Chu, focuses on the reform of pensions and other post-employment benefits (OPEBs), as commissioned by the Marin County Council of Mayors and Councilmembers (MCCMC). The MCCMC first studied this problem in June 2011, concentrating on pensions and is now revisiting the issue based on the changes in the financial, legislative, and legal environments.
In a special appearance as both presenter and Councilmember, Councilmember John McCauley presented the report to Council. The report attempts to address the following questions: How will cities respond to the challenge of meeting their obligation to pay the shortfall in pension and OPEB costs? What solutions exist to mitigate this coming challenge? How can cities provide more transparency in reporting these obligations?
The City's Long-Range Financial Plan
Summary: The City's Long Range Financial Plan develops a financial forecast and outlines areas for consideration, study and action regarding potential tools to be included in a comprehensive strategy. The Long Range Financial Forecast provides substantial information and reasonable projections of the City's long-term financial obligations and capabilities including a scenario reflecting the effect of additional staff costs.