Finance & Pension Committee

BOROUGH OF DOYLESTOWN FINANCE AND PENSION COMMITTEE MEETING THURSDAY, JANUARY 9, 2025 – 6:00 pm MINUTES The above meeting was held on the above date and time with the following people present: Committee Members: Chair Amy Popkin, Joe Frederick, Jennifer Jarret, Bob Kinney Council Members: None Staff: Caroline Brinker Approval of Minutes Minutes of November 14, 2024 joint budget/finance committee meeting were approved (Frederick/Kinney) Tax Collector Compensation The Committee reviewed a request from Tax Collector Michelle Crunkleton for an adjustment to the tax collector compensation beginning with the first month of the 2026 term of office. The compensation has not increased since the 2010 term. Michelle Crunkleton was present at the meeting and provided details of the compensation received by other tax collectors and what was paid by the County and School District. After discussion, it was recommended (Frederick/Kinney) by the Committee that the compensation of the tax collector be increased to $21,800 beginning with the 2026 term of office. It was also agreed that a COLA be added to the Resolution so that compensation does not fall behind in the future. The Resolution will be considered at the January 27, 2025 Borough Council meeting in order to meet the February 15, 2025 deadline for changes to compensation. Non-Uniformed Pension Plan 2025 COLA Girard Pension Services prepared information regarding awarding a 2.6% COLA benefit to the non- uniformed pension retirees. The consultant reviews the plan annually compared to the CPI. The COLA is optional and such increment “shall not exceed” the percentage increase in the appropriate CPI”. After discussion surrounding the increased liability to the plan, the committee recommended a 2.6% COLA to eligible retirees. (Kinney/Jarret) 2025 Broad Commons Summer Concerts The Committee reviewed a proposal from Stage United regarding 2 concerts to be held at Broad Commons Parking during the summer of 2025. This has been reviewed & recommended by the Park & Recreation Board and also the Environment and Recreation Committee. Upon review of the Agreement and Terms & Conditions, the committee requested that the Borough Solicitor review the agreement prior to signing. This item will be considered again in February. 2025 Finance/Pension Meeting Schedule & Topics The committee reviewed the tentative meeting calendar for the committee, that includes potential topics for discussion. 1|P a g e Old/New Business - None The meeting adjourned at 6:52 pm. Respectfully Submitted, Caroline Brinker Asst Manager/Finance Director 2|P a g e