# Standing Committee on Municipal and Legislative Operations 09/15/2026

The City of Worcester's Standing Committee on Municipal and Legislative Operations met on September 15, 2026, to discuss several financial and operational matters. A significant portion of the meeting focused on the city's Other Post-Employment Benefits (OPEB) trust fund, with Chief Financial Officer Tim McGirthy presenting the annual report. The discussion covered the city's funding strategies for retiree health insurance obligations, the current $61 million trust balance (expected to grow to the $70 million range), and the $1.15 billion actuarial liability. The CFO explained the impact of OPEB funding on the city's bond rating and detailed contributions from new employees and the city budget. The committee also reviewed the city's annual comprehensive financial report and monthly financial updates, including borrowing activities totaling approximately $46.5 million for capital projects. Challenges such as snow removal costs and depleted sewer reserves were addressed, with emphasis on the need to rebuild reserves to meet policy targets. The meeting concluded with discussions on tax rate setting, the Community Preservation Act funding, and the importance of financial management practices to maintain fiscal health. Motions to file reports were passed unanimously by the committee members present.

**Jurisdictions:** sled
**Industries:** Professional Services, Construction & Infrastructure
**Topics:** Grants & Funding, Physical Infrastructure
**Published:** September 15, 2026

### Sources
- [Standing Committee on Municipal and Legislative Operations 09/15/2026](https://www.youtube.com/watch?v=ZgkKN1WjSMQ) - City of Worcester