Page 4 - eagle031821

PAGE 4 ASSOCIATED NEWSPAPERS OF MICHIGAN March 18, 2021

WAYNE - WESTLAND
WAYNE - WESTLAND

Unfunded pension liability reduced in Westland

Despite additional challenges to Mayor William R. Wild. gram (similar to a 401(k) for pri-
for municipalities working The 2021 bonds will allow the ” vate sector employees), Wild
through the COVID-19 pandem- city to fund 95 percent of the added.
ic, the City of Westland has con- unfunded pension liability (up We were able to take advantage of “The City of Westland
tinued to find solutions to tackle from 40 percent) by borrowing at low interest rates and our excellent remains committed to finding
some of the biggest city issues, a low all-in fixed cost of 2.39 per- creative solutions to the prob-
including the unfunded pension cent, Wild explained. bond rating in order to honor our commitment lems we face, along with many
liability. By issuing the 2021 bonds at made to our retirees without increasing taxes. other municipalities,” Wild said.
The City of Westland has this low fixed rate, the city is “With the much appreciated
issued $82,470,000 in bonds to expecting to see considerable support we received from the
pay for a majority of the costs of cost savings over the life of the Michigan Department of
the unfunded pension liability 2021 Bonds as compared to their cent in Net Present Value (NPV) Westland began phasing out Treasury, we were able to take
for the defined benefit pension existing projected pension cost savings (as a percentage of the defined benefit for employ- advantage of low interest rates
plan for government employees repayment schedule. The city bonds issued) during the term of ees beginning in 2010 and by and our excellent bond rating in
administered by the Michigan financing is expected to gener- the city projected pension liabil- Jan. 1, 2014, all new employees order to honor our commitment
Employees Retirement System ate more than $78.04 million in ity payment schedule, Wild said hired in under are in a defined made to our retirees without
of Michigan (MERS), according cash flow savings or 70.21 per- in a prepared statement. contribution retirement pro- increasing taxes.”
Wayne chamber presents annual business awards

New Wayne Chamber of or so chamber members. were lined up outside HYPE nized for her volunteer work board members for 2021 includ-
Commerce Executive Director HYPE Recreation Center and down Howe to Van Born and with the Wayne Chamber of ing Amanda Dybus from the
Zachery Burskey welcomed the Wayne Main Street were each back to Venoy. HYPE has also Commerce. Wayne Westland Schools; Daryan
2021 board of directors for the recognized by the chamber for provided space for COVID-19 A high school student, Edmunds from State Farm
organization recently and pre- non-profit work in the communi- testing sites and inoculations. Gonzalez reduced chamber Insurance-Clay Nissan; Sue
sented the annual awards to ty. Wayne Main Street annually records to a manageable level Elliot from Storage Sense; Maria
local businesses. HYPE distributed two or hosts the city Spring Clean-Up and designed the car hood the Rico from Lobo Tires; Chelsea
Burskey, who has been with three truckloads of food to resi- event. The organization also chamber entered in the Wayne Rushlow from Imperial Press;
the chamber since December, dents during Saturdays last sum- organizes the annual fall scare- Main Street 2019 competition. Stan Shelton of J&S Portrait
said his goals were to provide mer. crow event “which brings a bit of She also designed the scarecrow America Photography; Shane
benefit opportunities like health Stan Shelton, a chamber shine to the community,” said the chamber entered in the 2020 Vida from Phoenix Theatres and
care options, business discounts board member who volunteered Shelton. downtown competition. Magan Zuk from Advantage
and other digital events for the 80 at the food distribution, said cars Estefany Gonzalez was recog- The chamber also named the Living Center.
Sunshine Week prompts launch of new dashboard

The City of Westland has reports and community data The dashboard shows crime
launched a new financial and insights, according to a city ” rates, arrest data, citation data,
community performance dash- spokesman. Westland remains committed to practices citizen complaints, officer use of
board available at www.city- The launch has coincided force and training data for all of
ofwestland.com. with “Sunshine Week,” which is that promote transparency. the department's 81 sworn offi-
The new dashboard, powered an annual nationwide initiative Transparency is inextricably linked cers and 25 civilian employees.
by Michigan-based Munetrix, that acknowledges the impor- Both dashboards are available
provides an insider's look at the tance of open government. to good governing and public trust. year-round at www.cityofwest-
financial health of the city by pro- “Sunshine Week” was estab- land.com.
viding a convenient and easy-to- lished in 2005 and occurs every “Westland remains committed
navigate portal for multi-year year in mid-March, along with on the week of March 14 - March launched a Police Transparency to practices that promote trans-
data regarding where city money James Madison's birthday and 20 and the new Westland trans- Dashboard in September of 2020 parency,” commented Mayor
comes from and where it is spent. National Freedom of parency-focused dashboard which provides up-to-date trans- William R. Wild. “Transparency
Also included on the dashboard Information Day on March 16. launched on Monday. parency information about the is inextricably linked to good gov-
are other relevant financial This year, “Sunshine Week” falls The City of Westland also police department to the public. erning and public trust.”

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