Sonoma County Grand Jury
• 2014-2015
• Agency Response
Response to:
Sustainable Water for Sonoma County
Rior Court of California County of Sonoma*
⚠️ Aviso de traducción: Este contenido ha sido traducido automáticamente. El texto original en inglés es la versión oficial. La traducción puede contener errores.
⚠️ Este contenido ha sido traducido automáticamente. El texto original en inglés es la versión oficial. La traducción puede contener errores.
Findings and Recommendations 7 findings
F1
Page 1
The information related to pensions is daunting and difficult for the lay person to understand.
Related Recommendations (1)
R1
Page 1
The Office of the County Administrator publish a yearly Pension Reform Update. The recommendation has and will continue to be implemented.
F2
Page 1
The County, its employees, and retirees are well served by the Retirement Association.
Related Recommendations (1)
R2
Page 1
The Office of the County Administrator continue to include the annual payment toward pension obligation bonds in its measurement of the County's ability to meet its future pension obligations. The recommendation has and will continue to be implemented. 9 1 3
F3
Page 1
Sonoma County, with the assistance of new State laws and good-faith bargaining with employees, has made strides towards reducing unfunded pension liabilities.
No recommendations for this finding
F4
Page 1
Periodic comprehensive update reports on pension reform are valuable tools for gauging the progress of reducing the unfunded liability.
No recommendations for this finding
F5
Page 1
A standard method of measuring performance would help citizens gauge the progress of County's goal of pension reform and funding pension liabilities.
No recommendations for this finding
F6
Page 1
Including annual payments toward the County's pension obligation bonds is a more accurate measurement of the financial health of the pension system.
No recommendations for this finding
F7
Page 1
Actuarial predictions cannot anticipate extreme market volatility, which may result in investment losses and increased unfunded liabilities.
No recommendations for this finding
* This report's PDF did not contain easily extractable text and required Optical Character Recognition (OCR) for analysis. There may be minor errors in the extracted findings and recommendations due to OCR limitations with scanned documents.