1. FCERA Budget Proposal Fiscal Year 2008-09 Executive Summary June 4, 2008 (Revised)

2. FY 2008-09 Executive Summary2 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

3. FY 2008-09 Executive Summary3 Budget Goals for 2008-09 Establish framework for implementation of business projects that resulted from the Strategic Planning initiative Retain and develop talent through career tracks and merit recognition Decrease current backlog of prior public service and prior county service purchase requests Keep up with new challenges created by dynamic retirement environment

4. FY 2008-09 Executive Summary4 Budget Presentation Methodology to the Board (1)(2) Current Budget FY 2007-08 Proposed Budget FY 2008-09 ------------------------ X Proposed Budget FY 2008-09 ------------------------ Projected Budget FY 2007-08 Current Budget FY 2007-08

5. FY 2008-09 Executive Summary5 Accounting for the Difference Projected Budget 2007-08 to Proposed Budget 2008-09

6. FY 2008-09 Executive Summary6 Salaries & Benefits

7. FY 2008-09 Executive Summary7 Regular Wages

8. FY 2008-09 Executive Summary8 Benefits

9. FY 2008-09 Executive Summary9 Extra-Help Wages

10. FY 2008-09 Executive Summary10 Overtime Wages Completion of UAAL Project Timing on filling new and vacant positions

11. FY 2008-09 Executive Summary11 Methodology $ 1,925,982 $ 2,149,223 ----------------------- X ----------------------= $ 1,802,571 $ 1,925,982 (1) (2) 68.2% Regular Wages Growth 41.3% Benefits - 9.5% Overtime/Extra Help Wages Change YTY = $ 2,149,223 $ 1,802,571 ------------------ A 19.2% increase from Prior Year Projected Expenditures

12. FY 2008-09 Executive Summary12 Services & Supplies Projected vs. Proposed

13. FY 2008-09 Executive Summary13 Professional Services

14. FY 2008-09 Executive Summary14 Professional Services

15. FY 2008-09 Executive Summary15 PENSIONS System

16. FY 2008-09 Executive Summary16 Fixed Assets

17. FY 2008-09 Executive Summary17 Liability Insurance

18. FY 2008-09 Executive Summary18 Training & Travel (Board & Staff) Trustee and staff education and travel

19. FY 2008-09 Executive Summary19 General Operating Expense

20. FY 2008-09 Executive Summary20 Maintenance, Buildings & Grounds

21. FY 2008-09 Executive Summary21 Other

22. FY 2008-09 Executive Summary22 ITSD Proposed costs are established by the County of Fresno Information Technology Services Department (ITSD)

23. FY 2008-09 Executive Summary23 Utilities

24. FY 2008-09 Executive Summary24 Methodology $ 1,980,972 $ 2,050,110 ----------------------- X ----------------------= $ 1,716,296 $ 1,980,972 (1)(2) 34.0% Fixed Assets 92.5% Professional Expenses -44.0% Pensions (Watson Wyatt) 17.5% Other Expenses Change YTY = $ 2,050,110 $ 1,716,296 ------------------ A 19.5% increase from Prior Year Projected Expenses

25. FY 2008-09 Executive Summary25 Fresno County Employees’ Retirement Association Calculation of Estimated Maximum Administrative Budget For Budget Year 2008-09