FY25 GFOA Budget - Flipbook - Page 155
Return to Table of Contents
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
FY 23 Budget
$ 1,600,000
$ 1,600,000
FY 23 Actual
$ 1,682,329
$ 1,682,329
FY 24 Budget
$ 1,600,000
$ 1,600,000
FY24 Estimate
$
1,779,894
$ 1,779,894
FY25 Budget
$ 1,900,000
$ 1,900,000
% Change
0%
0%
PENSION FUND EXPENDITURES
$ Type
FY 23 Budget
FY 23 Actual
FY 24 Budget
FY24 Estimate
FY25 Budget
Pension Contribution
$
$
$
1,600,000
$
1,779,894
$
1,900,000
0%
TOTAL
$ 1,600,000
$ 1,600,000
$
1,779,894
$ 1,900,000
0%
1,600,000
1,682,329
$ 1,682,329
P a g e 155 |BARTLETT FIRE PROTECTION DISTRICT | PENSION FUND
% Change
