December 7, 2011
The Civic Federation offers conditional support for the Metropolitan Water Reclamation District’s (MWRD) FY2012 Tentative Budget of $1.0 billion. The Federation is concerned that the budget proposes the maximum increase to the property tax levy and does not comply with the District’s own fund balance policy. The proposed reforms to pension funding that have the support of the Retirement Fund Board and the Board of Commissioners are a strong step toward improving the financial health of the pension fund, which is only 56.5% funded. However, the passage of these reforms in Springfield will require strong advocacy by the Commissioners.
Therefore, the Federation cannot fully support the tentative budget unless the Board of Commissioners strongly pursues the proposed pension reforms in Springfield during the upcoming spring legislative session and the District increases its budgeted fund balance in compliance with its own fund balance policy.