City of Gainesville Financial Reports
City of Gainesville General Employees Pension Plan Actuarial Valuation Report:
On September 24 the City of Gainesville held a Board of Trustees (BOT) meeting on the General Employees pension plan. The BOT is the Gainesville City Commission.
The meeting's agenda is nearly identical to the previous BOT meeting held September 5, with the only difference being an additional item for an employee's disability retirement application.
The BOT approved the recommendation at both meetings, setting the general pension plan's employee contribution at 5.97%.
The September 5 meeting was previously covered on GnvInfo when Gainesville resident Bana Kabalan was denied entry and her right to public comment.
At the September 24 meeting, Mayor Harvey Ward acknowledged the meeting was a re-do with a previous item.
Ward asked City Attorney Daniel Nee if he thought Gainesville Chief Investment Officer William Johnston should do a presentation on the item, as he had done at the previous BOT meeting.
Nee responded "I think it's best to do what we would typically do in a situation like this. It was heard before at the meeting where there was a snafu at the door so the actions there were not effective. Let's do the actions as we planned to."
Ward said "Mr. Johnston if you would give us as much presentation as you feel is necessary."
Johnston gave a short presentation as he had at the previous meeting.
video cred. City of Gainesville public meetings page
Kabalan said she suspects that she is the "snafu" that Nee was referencing.
Pension Plan Review:
On September 26, the City of Gainesville held a Pension Review Committee meeting. If there is a recording of the meeting that exists, it's not currently available on the City of Gainesville's meeting calendar.
The meeting's agenda states investment manager Baillie Gifford provided "a presentation to the Pension Review Committee covering the General Pension Plan’s investment in their International Growth Strategy." The presentation is available on the agenda.
The agenda goes on to state, "Baillie Gifford will discuss the performance of the Plans International Growth Strategy investment which is benchmarked to the MSCI EAFE Growth Index (Morgan Stanley Capital International Europe, Australasia, and Far East). Baillie Gifford will also review fund holdings, return, contributors and detractors, key purchases and sales of securities, and industry weightings. Baillie Gifford will also discuss current and expected market conditions and their economic outlook."
Gainesville General Employees Pension Plan Investment Performance Review (Period ending Aug 31, 2024):
Following Baillie Gifford, investment consultant company Mariner gave a presentation on the investment performance of the Gainesville General Employees Pension Plan.
Fiscal Year 2025 Budget Second Public Hearing (Sep 30, 2024):
On September 30, the Gainesville City commission had a special meeting on the fiscal year 2025 budget where they decided to keep their fiscal mileage rate i.e. property taxes at 6.4297 mills and passed a resolution on the financial operating plan. Property taxes have not increased or decreased, the City holds the same rate as the last fiscal year.
Unlike the aforementioned meeting, this meeting's recording is available on the City's website.
The meeting's agenda contains a presentation from City Manager Cynthia Curry on the fiscal year 2025 budget. However, there wasn't a presentation at the meeting.
The rest of the reports on this page are on City websites, agendas, or obtained through public records requests.
Gainesville Police & Fire Pension Plan Investment Holdings Statement:
Gainesville General Pension Plan Investment Holdings Statement (as of Sep 30, 2023):
Gainesville Operating-Surplus Funds Bond Portfolio Holdings Statement (run date July 1, 2024):
Gainesville Retiree Health All Accounts (prepared on Nov 14, 2023):
City of Gainesville Evergreen Account Summary (statement period Sep 2023):
Custody Holding for Currency USD (as of Sep, 30 2023):
City of Gainesville Operating Funds SBA Prime Fund Account Yield Performance Report (Sep 30, 2024):
General Employees Retirement Plan Reports
Consolidated Police Officers and Firefighters Retirement Plan Reports
Financial Resolutions and Ordinances:
Fiscal Year 2024 Adopted Financial and Operating Plan:
