Prescott Council study session focuses on pension debt
PRESCOTT – The upwards of $72 million in debt that the City of Prescott has in its public-safety pension system will be the topic of discussion at a special study session of the Prescott City Council this week.
The session will take place at 1 p.m. Thursday, Jan. 5, at Prescott City Hall, 201 S. Cortez St.
The meeting will include a presentation by the council’s Strategic Plan Committee on “options for paying down the PSPRS (Public Safety Personnel Retirement System) debt,” according to a city memo.
The committee, which is made up of Council Members Jean Wilcox, Billie Orr and Steve Sischka, has been meeting since November.
“The purpose of the Strategic Plan Committee is to review the four goals outlined in the strategic plan and discuss how the city can accomplish them,” the memo noted.
The full council compiled the strategic plan earlier this year. Along with the top goal of stabilizing the general plan – with an emphasis on coming up with options for paying down the PSPRS debt – the goals also include enhancing economic development, improving customer service, and maintaining quality of life.
The committee began meeting in mid-November and conducted four meetings in December to discuss the implementation of the strategic plan.