Mark LaRusso

Retirement Fund Investment Performance

Fund performance and actuarial adjustments determine future city contribution requirements for regular and special risk classes.

Pension Fund Performance and Private Equity Allocation

Directly impacts the investment performance and asset allocation of the municipal firefighters' pension trust fund.

Affordable Housing Property Tax Exemption Opt-Out Renewal

Preserves municipal property tax revenue from moderate-income rental developments.

Proposed Changes to City Development Fees

Fee changes would alter the cost of development permits in Melbourne, though the amounts are not on record.

State Property Tax Constitutional Amendment Impact

Potential loss of approximately $18.1 million in annual homestead property tax revenue.

Proposed Pension Ordinance Revisions

Sets the employer contribution rate at 34.26% of police payroll.

Council Travel and Per Diem Policy Restructuring

Reallocates existing council travel and per diem budget line items without increasing total expenditures.

Summary Plan Description Updates

Administrative updates with no direct fiscal impact on the operating budget.

Police Officers Retirement System Investment Manager Replacement

Involves managing a multi-million dollar equity portfolio and optimizing management fees around 45 to 48 basis points.

Fiscal Year 2027 Proposed Budget and Millage Rate

The approved tentative millage rate generates approximately $500,000 in additional revenue above the rolled-back rate to support city contingencies and community programs.

Board Member Fine Rescission Request

The $1,250 fine remains as a municipal lien against the property.

Retirement Fund Investment Performance and Market Volatility

Fund values experienced minor Q1 fluctuations followed by a strong recovery of 4 to 5 percent in early Q2.

Baseline Energy and Fleet Data Requests

Null

City Employee Health Insurance and Benefit Plan Overhaul

The new health insurance contract is projected to save the city approximately $2 million net after funding employee health savings accounts.

Firefighters Pension Fund Actuarial Valuation

City contribution requirements adjusted to approximately $4.46 million, reflecting assumption changes and rising payroll.

Administrative Purchasing and Contract Threshold Adjustment

Does not change city spending totals but shifts contract approval authority for mid-sized purchases to administrative staff.

Police Officers Pension Fund Valuation and Contribution Rates

The city will budget roughly $64,250 in required pension contributions for next fiscal year, up a few thousand dollars from this year.

Revision of Critical Community Needs Funding Policy #10

Transition to Digital Agenda Packets

Reduces city printing and mailing overhead expenses.