Category: Bureau Updates

Bureau-Update

Boston’s Pension Liability Declines

The Boston Retirement System’s unfunded actuarial accrued liability decreased to $1.48B, down from $1.69B. The funded portion of the BRS actuarial liability increased from 70.2% to 74.9%. Continuing with an aggressive funding schedule will keep Boston on the path to reach full funding by 2025. (read more . . .)

Boston Buildings

Fiscal 2017 Tax Rates Set

Strong growth in existing property value and even greater new growth from building construction and change in property tax status have combined to increase Boston’s total taxable value to $143.9B. New growth is expected to add $75M in tax revenue for Boston. (read more . . .)

Bureau-Update

City Still Negotiating New Contracts with Its Unions

The Walsh Administration continues to be in negotiations with 38 of its 40 bargaining units with expired contracts. The final outcome of negotiations will have a direct impact on Boston’s future financial status. The Walsh Administration will need to negotiate contracts that are financially sustainable and include management provisions to improve service delivery in return. (read more . . .)