- Associated Press - Wednesday, September 2, 2015

PRESCOTT, Ariz. (AP) - The city of Prescott may cut its general fund by $1.2 million and lay off staff as it grapples with growing costs in its public-safety pension program.

The Daily Courier reports (https://bit.ly/1UrViV5) voters nixed a .55-percent sales tax increase last week that would have gone toward unfunded liabilities totaling $20 million in the Public Safety Personnel Retirement System.

In an email sent to employees late Monday, City Manager Craig McConnell said the reductions in personnel will be required to cut general fund expenditures and fund the retirement program.

McConnell estimates $1.2 million will need to be cut from the general fund in fiscal year 2017, with another $230,000 the year after. These amounts are expected to increase after the retirement system updates obligations in November.


Information from: The Daily Courier, https://www.dcourier.com

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