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FCERA Budget Proposal Fiscal Year 2004-05

FCERA Budget Proposal Fiscal Year 2004-05. Executive Summary June 16, 2004. FCERA Administrative Budget. 1937 Act defines Board obligations Board establishes FCERA goals and objectives to meet its obligations Staff estimates resources required to meet Board obligations.

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FCERA Budget Proposal Fiscal Year 2004-05

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  1. FCERA Budget ProposalFiscal Year 2004-05 Executive Summary June 16, 2004

  2. FCERA Administrative Budget • 1937 Act defines Board obligations • Board establishes FCERA goals and objectives to meet its obligations • Staff estimates resources required to meet Board obligations FY 2004-05 Executive Summary

  3. Budget Goals for 2004-05 • Improve member service • Retain and develop talent through career tracks and merit recognition • Implementation of the Board’s decision on final compensation • Keep up with new challenges created by dynamic retirement environment, except for unknown ramifications of the final compensation issue FY 2004-05 Executive Summary

  4. Significant Items • Final Compensation Litigation • Substantial Increases in Retirement and Health Insurance Costs • Multiple Updates to the Pensions System FY 2004-05 Executive Summary

  5. Budget 04-05 ------------------ Budget 03-04 Presented Methodology to Budget Committee (1) (2) Projected 03-04 Budget 04-05 ----------------------- X ---------------------- = Budget 03-04 Projected 03-04 FY 2004-05 Executive Summary

  6. Accounting for the DifferenceProposed Budget 2004-05 to Projected Budget 2003-04 FY 2004-05 Executive Summary

  7. Salaries & BenefitsProjected 2003-04 to Budget 2004-05 FY 2004-05 Executive Summary

  8. Regular Wages Vacant Positions (Office Assistant, Account Clerk) (47,298) Step Increases, Promotions,and Bilingual Pay (11,311) Positions Filled for Full Year (53,927) FY 2004-05 Executive Summary

  9. Overtime Wages • Filling positions will assist in meeting operational goals • More experienced staff, especially as it relates to disbursement function with new bank • Reduction in current operational backlogs (buybacks,payroll adjustments and financial information) FY 2004-05 Executive Summary

  10. Extra-Help Wages • Backlog of buybacks and payroll adjustments • Final compensation issue • Part-time administrative and agenda preparation clerical support FY 2004-05 Executive Summary

  11. Benefits • FICA, Retirement, Health Benefits, Workers Comp, Unemployment, etc. FY 2004-05 Executive Summary

  12. Services and SuppliesProjected 2003-04 to Budget 2004-05 FY 2004-05 Executive Summary

  13. Professional Services FY 2004-05 Executive Summary

  14. Professional Services FY 2004-05 Executive Summary

  15. Fixed Assets FY 2004-05 Executive Summary

  16. PENSIONS System FY 2004-05 Executive Summary

  17. Maintenance, Buildings & Grounds FY 2004-05 Executive Summary

  18. Liability Insurance FY 2004-05 Executive Summary

  19. Utilities FY 2004-05 Executive Summary

  20. Office Expense(Including Postage) FY 2004-05 Executive Summary

  21. Board Stipend FY 2004-05 Executive Summary

  22. Travel and Education (Board & Staff) • Trustee and staff education-related travel FY 2004-05 Executive Summary

  23. Other FY 2004-05 Executive Summary

  24. ITSD FY 2004-05 Executive Summary

  25. Fresno County Employees’ Retirement AssociationCalculation of Estimated Maximum Administrative BudgetFor Budget Year 2004-05 FY 2004-05 Executive Summary

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