SPECIAL FUNDS
Fund 003: COMPENSATED ABSENCES FUND The Compensated Absences Fund was created to accumulate funding for compensated absences, including earned sick and vacation time that is expected to be paid out when employees separate from the City. The funding received is based on a percentage of employee salaries in an amount sufficient to meet current expected payouts plus an amount to cover future anticipated disbursements based on an actuarial analysis completed October 31, 2022. The funding target for this fund is 35 percent of the outstanding earned sick and vacation time.
FY 2023-25 Adopted Budget
315
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