The city of Prescott has had good news when it comes to paying down the debt it owes to the public safety pension system, according to a media release. Much like Flagstaff, the city of Prescott pays into the pension system which funds the retirements or police officers and fire fighters. In 2017, Prescott voters approved a 0.75 cent tax dedicated to paying down the debt which at the time was $86 million. Prescott’s liability is now just over $43 million, and as of the recent report, Prescott is 69% funded, according to the pension system. “This is more good news for the City of Prescott,” said Prescott Mayor Greg Mengarelli.

Source: Daily Sun December 21, 2020 21:00 UTC