A citizens task force has posted a detailed response to the Moraga Orinda Fire District's 15-year financial forecast released earlier this month.
The Orinda Citizens Emergency Services Task Force commends MOFD for taking the long view over 15 years and for "taking on the tough job of focusing on underfunded liabilities." The task force states it agrees with the current forecast for revenue growth through 2022.
However, the task force "believes that the current forecast seriously understates the magnitude of unfunded future liabilities" with a discrepancy as large as $2 million to $5 million annually. Included in the under-projection, the task force states, are:
- a pension obligation bond
- a post-retirement medical benefit liability, and
- underfunded pension liabilities
The district's 15-year plan anticipates a growth in property tax revenues of 2 percent in fiscal 2013-14, 3.25 percent in 2014-15, 3.5 percent in 2015-16, and 4 percent through the remainder of the plan.
The 15-year plan lays out a projection of retiring the current Unfunded Actuarial Accrued Liability by 2026-27. This includes a projection that the Contra Costa County Employee Retirement Association will average an aggregate annual return on investments of 7.75 percent by the end of that term. "Historically, CCCERA has exceed that goal in any 20-year period since its existence," the 15-year plan states.
One task force member,
