We apologize but this is about as crisp as we can get these images taken from the Godbe Research Report
LGCA Convinces the Town Council to Make a $10.4M ADP- Eventually Saving the Town $18.7 Million
posted in: Finance, Finance Commission, Finance Committee, Financial Status, Unfunded Liabilities |
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CALPER’s latest actuarial report for the Misc Pension Plan shows remarkable progress in reducing the unfunded pension liability. To refresh your memory as of June 30, 2019 the unfunded pension liability for the Misc Plan was $35.9m and had a … Continued
Pension Debt and Annual Costs Are Increasing Again for Los Gatos During the 2020-2021 Fiscal Year!
The Town just posted the new CALPERs actuarial valuations as of June 30, 2019 and as we suspected they are not pretty. Funded status for both plans decreased. Safety is down to 67.9% and Misc is also down to 71.9%. … Continued
A Deeper Dive Into the Finance Commission Initiative
posted in: Finance Commission, Finance Commission Initiative, Finance Committee, Initiatives - 2020, Our Town |
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Finance Commission Initiative – Measure A No one on the current Los Gatos Council has professional financial training. In the past 20 years, we have only found one who has. There have been several business persons who have served. The … Continued
Los Gatos Town Finance Commission Initiative
BE IT ORDAINED by the People of the Town of Los Gatos as follows: Section 1. Title. This measure shall be known and may be referred to as the “Town Finance Commission Initiative.” Section 2. Findings and Declarations. WHEREAS, … Continued
Council unanimously votes to pay bonuses and give salary increases
NOTE: We promised an update to our initial letter regarding the Council’s unanimous response to approve the raise and the bonus. Below is a letter written to the Democracy Tent group that will be discussed in their Zoom meeting … Continued
The Los Gatos 5 Year Financial Trend Analysis and Peer City Comparison – 2013 to 2017
For over two years, a group of us have been looking at the town’s financial situation. What we recognized was that the town had a council Financial Committee made up of two non-financial Council members. No one on the council … Continued
Proposal For A Reconstituted Finance Commission For The Town of Los Gatos
In July of 2016, several of us got together to discuss the town’s budget; something we were viewing with alarm but could not understand why the town did not seem to be taking aggressive steps to resolve. Since starting these … Continued