Wednesday, July 1, 2015

Possible Budget Cut To Help Fund Pensions

Several departments of the City of Ft. Smith will be affected by a proposed General Fund budget decrease.  The cut is in an effort to help fund pensions for firefighters and police officers.  The Ft. Smith Board of Directors earlier this month voted 5-2 in favor of an ordi- nance that changed the retirement benefit program.  Under the new one, they will have to work three years longer in order to receive the maximum benefits.

On July 21, the Board will be asked to consider approving a 3% cut to the General Fund bud- get, which would be earmarked for pensions.  Included in the departments that would exper- ience reductions would be the Fire Department in the amount of $190,000 and $290,000 from the Police Department's annual budget.

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