COLDWATER, MI (WTVB) – The Branch County Board of Commissioners voted 3-1 Tuesday to apply the $600,000 delinquent tax revolving fund surplus to the unfunded pension liability.
Dale Swift voted no because he thinks it should be placed in the reserve for the General Fund in order to meet a 23 percent surplus goal. He pointed out the county has applied $2.1 million to the unfunded pension liability over the last three years.
County Administrator Bud Norman says the pension is currently funded between 65 and 70 percent which is below the minimum of 80 percent. He feels putting the surplus towards the pension liability would increase the pension over the years between nine and 10 percent.
A public hearing on the proposed 2017 budget was held with no one from the audience commenting. The budget is scheduled to be adopted December 20, 2016
