Danville the Tuesday night, November 15th Danville City Council meeting, a message was delivered from Lauterbach and Amen; and their independent analysis that showed Danville’s progress over the last four years in funding its pensions. Mayor Rickey Williams, Jr explains.
AUDIO: You look at our police; previously we were 27.83% funded in 2018, currently we’re 32.24%. You look at the fire; we were at 15.65% funded previously, now we’re at 23.05% funded.
Mayor Williams says a big key to this has been aiming higher than they are required to be aiming.
AUDIO: We’re working towards 100% fully funded by 2040, versus the 90% that we are required to be by law.
Mayor Williams says another major factor has been Danville taking all the revenue it is receiving from cannabis sales, and putting it directly towards the pensions, to help whittle away at what the city owes.
