BFPD FY26 GFOA Budget - Flipbook - Page 161
| PENSION FUND
The Pension Fund is the only fiduciary fund of the District, meaning it is the only account in
which the District holds assets as a trustee for other parties. The Bartlett Firefighters Pension
Trust maintains the pension fund. During 2007, the respective counties of the District started
paying the Pension’s fund allocation of property taxes directly to the Trust. In addition, the
District acts as an agent by distributing the replacement taxes and individual contributions made
by the firefighters through payroll withholdings to the Trust. Fiduciary funds are reported using
the accrual basis of accounting. This District is increasing the Pension Fund budget this fiscal
year from $1.6M to $1.9M to account for new hires.
PENSION FUND REVENUES
$ Type
Property Taxes
TOTAL
FY24 Budget
$
1,600,000
$
1,600,000
FY24 Actual
$
1,648,805
$
1,648,805
FY25 Budget
$
1,600,000
$
1,600,000
FY25 Estimate
$
1,836,561
$
1,836,561
FY26 Budget
$
2,175,000
$
2,175,000
% Change
36%
36%
FY26 Budget
$
2,175,000
$
2,175,000
% Change
36%
36%
PENSION FUND EXPENDITURES
$ Type
FY24 Budget
Pension Contribution $
1,600,000
TOTAL
$
1,600,000
FY24 Actual
$ 1,648,805
$ 1,648,805
FY25 Budget
$ 1,600,000
$ 1,600,000
FY25 Estimate
$
1,836,561
$
1,836,561
P a g e 161 | BARTLETT FIRE PROTECTION DISTRICT | PENSION FUND
