(Geneseo)- While much of the City Council’s October 22 meeting was spent discussing the pros and cons of a recreational marijuana sales and/or grow facility in the city, one other major issue arose.    City Finance Director Jamie Matthews offered a long term look ahead at city finances. She noted that the Police Pension Fund is funded at only 57.4%. Matthews told the Council that, at this pace, the City’s tax levy will be entirely consumed by funding just that one pension fund line item in approximately 7 years.    Under questioning by Alderman Brett Barnhart (4th Ward), Matthews said just a 3% boost in the funding ratio costs the city $170,000.    This is an issue that former two-term Mayor Linda VanDerLeest had sounded the alarm about often during her time in office (2011-15). She had proposed reducing benefits, including the percentage of health care costs city employees would contribute. There was much pushback from then current, and retired, city workers.    Governor JB Pritzker is promoting a bill, currently being debated in Springfield. It would take 649 individually managed suburban and downstate (all but Chicago) police and fire pension funds and consolidate them into 2. One for police and one for firefighters. The Illinois Municipal League, of which Geneseo is a member, supports the bill. Most employee union organizations oppose it.    The concept is to get better rates of return on investments by combining the cash available to invest. Also, to cut out fees from duplicative money managers, staff, actuaries, etc.  The negative is losing local control of the decisions made about each fund.    The bill is SB371. It can be followed at www.ilga.gov. There is also a history and view of the issue presented at www.iml.org. The counterpoint of the Illinois Fraternal Order of Police is at www.fop.org