Laserfiche WebLink
1/2/2025 <br />19 <br />Financing Capital Projects <br />Pay-as-You-Go (Cash) <br />•Funding capital projects with cash <br />•Save interest costs <br />•Long wait time for new projects <br />•Inflation risk <br />Pay-as-You-Use (Debt) <br />•Funding capital projects with <br />borrowed funds such as bond <br />issuance <br />•Incur borrowing costs <br />•Costs are saved through accelerated <br />construction (i.e., inflation and <br />preventative maintenance exceed <br />the interest paid on the funds) <br />37 <br />Unfunded Retiree Medical and Pension Liabilities <br />•Unfunded liabilities remain <br />significant at over $200M, <br />impacted by factors such as <br />CalPERS investment loss <br />•Balances are as of June 30, <br />2023 <br />38 <br />Total Unfunded Liability Total <br />Total OPEB liability 89,964,000 <br />Plan fiduciary net position 69,186,500 <br />Net OPEB liability 20,777,500 <br />Funded status 77% <br />Total Unfunded Liability Total <br />Less PARS <br />Pension Trust <br /> Net Pension <br />Liability Less <br />Trust Funds <br />Total pension liability 668,118,947 668,118,947 <br />Plan fiduciary net position 457,472,510 46,270,093 503,742,603 <br />Net pension liability 210,646,437 (46,270,093) 164,376,344 <br />Funded status 68% 75% <br />Recommendation from the City’s <br />actuary consultant regarding the use <br />of Section 115 Pension Trust Funds: <br />Not to use the funds or minimum <br />use of the funds at this time <br />37 <br />38 <br />Page 103 of 109