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Meeting Name: FINANCE & PERSONNEL COMMITTEE Agenda status: Final
Meeting date/time: 10/6/2021 1:30 PM Minutes status: Final  
Meeting location: Room 301-B, City Hall
2022 BUDGET HEARINGS This is also virtual meeting. Those wishing to view the proceedings are able to do so via the City Channel - Channel 25 on Spectrum Cable - or on the Internet at http://city.milwaukee.gov/citychannel.
Published agenda: Agenda Agenda Published minutes: Minutes Minutes  
Meeting video: eComment: Not available  
Attachments:
File #Ver.Agenda #TypeTitleActionResultTallyAction DetailsVideo
     Meeting convened at 1:47 p.m.    Roll call Video Video
     Also appearing:

Minutes note: Dennis Yaccarino, Budget & Management Director Joshua Benson, Deputy Comptroller Tea Norfolk, LRB Fiscal Planning Specialist
    Not available
210001 01.BudgetCommunication from the Mayor relating to the proposed 2022 budget.

Minutes note: -Mayor’s Office Appearing: Thomas Bell, Budget & Management Division Jodie Tabak, Mayor's Office A Mayor's Office Overview was given as follows: 2022 Budget Summary, Budget & Service Changes
NOT ACTED ON   Action details Video Video
210001 0 BudgetCommunication from the Mayor relating to the proposed 2022 budget.

Minutes note: -Municipal Court Appearing: Thomas Bell, Budget & Management Division Sheldyn Himle, Municipal Court Judge Derek Mosley, Municipal Court A Municipal Court Overview was given as follows: Community Goals & Objectives, 2022 Budget Summary, Special Purpose Accounts, Special Funds, Revenues, Capital Improvements Budget, Capital Projects, Budget & Service Changes
NOT ACTED ON   Action details Video Video
210001 0 BudgetCommunication from the Mayor relating to the proposed 2022 budget.

Minutes note: -Deferred Compensation Appearing: Eric Pearson, Budget & Management Division Beth Conradson Cleary, Deferred Compensation Director A Deferred Compensation Overview was given as follows: Mission Statement, DCP Goals & Objectives, 2022 Budget Summary, Deferred Compensation Plan Assets, Deferred Compensation Participants, Summary Plan Data, Recent Accomplishments, Financial Wellness Seminars, Measuring Results (Gender Analysis, Race Analysis, Asset Allocation Impact), 2022 Plan Goals
NOT ACTED ON   Action details Video Video
210001 0 BudgetCommunication from the Mayor relating to the proposed 2022 budget.

Minutes note: -Employes’ Retirement System Appearing: Molly King, Budget & Management Division Larry Langer, Cavanaugh Macdonald Consulting An Employes' Retirement System Overview was given as follows: Budget Data, Budget & Service Changes, Pension Fund Performance as of January 1, 2021, 2022 Pension Contribution, Employer Pension Contributions Trends 2010 - 2022, Future Pension Contribution Outlook, Employer Contributions (Combined Fund only as of January 1, 2021), Fund Value of Assets: 2007 - June 30, 2021 (Year ended dates reflect 12/31 fund values), ERS Summary Information, CMERS Participant Headcount, Total Annual Member Contributions, Annual Member Contributions, Benefit Payments Increased by 5%, CMER Revenues, ERS Financially Resilient, Fund Value of Assets: 2007 - June 30, 2021, Additions vs. Deductions to Fund, ERS Allocation as of August 31, 2021, CMERS Investment Performance History Periods Ending August 31, 2021, Investment Performance Compared to Public Fund Peers Periods Ending June 30, 2021, Milwaukee Employes' Retirement System - September 29, 2021, Comparison of WRS Core Funds vs ERS Returns, ERS 20 Year Rolling Ave. Investment Returns 1978-2021, Rolling Fund Returns 1979-2021, Projected spike in employer contributions to ERS beginning in 2023 presents a challenge for the participating employers, Sensitvity Analysis (Alternate Investment Returns for 2021), Normal Cost by Group (1/1/2021 Actuarial Valuation), Employer Rate Based On, Actuarially Determined Employer Contribution, Discount Rates for Public Funds
NOT ACTED ON   Action details Video Video
210001 0 BudgetCommunication from the Mayor relating to the proposed 2022 budget.HELD TO CALL OF THE CHAIRPass5:0 Action details Not available
     Meeting adjourned at 4:09 p.m. Chris Lee, Staff Assistant Council Records Section City Clerk's Office    Not available
     This meeting can be viewed in its entirety through the City's Legislative Research Center at http://milwaukee.legistar.com/calendar.    Not available