FCERA Budget Proposal Fiscal Year Executive Summary June 4, 2008 (Revised)

FY 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

FY Executive Summary3 Budget Goals for 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

FY Executive Summary4 Budget Presentation Methodology to the Board (1)(2) Current Budget FY Proposed Budget FY X Proposed Budget FY Projected Budget FY Current Budget FY

FY Executive Summary5 Accounting for the Difference Projected Budget to Proposed Budget

FY Executive Summary6 Salaries & Benefits

FY Executive Summary7 Regular Wages

FY Executive Summary8 Benefits

FY Executive Summary9 Extra-Help Wages

FY Executive Summary10 Overtime Wages Completion of UAAL Project Timing on filling new and vacant positions

FY Executive Summary11 Methodology $ 1,925,982 $ 2,149, 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, A 19.2% increase from Prior Year Projected Expenditures

FY Executive Summary12 Services & Supplies Projected vs. Proposed

FY Executive Summary13 Professional Services

FY Executive Summary14 Professional Services

FY Executive Summary15 PENSIONS System

FY Executive Summary16 Fixed Assets

FY Executive Summary17 Liability Insurance

FY Executive Summary18 Training & Travel (Board & Staff) Trustee and staff education and travel

FY Executive Summary19 General Operating Expense

FY Executive Summary20 Maintenance, Buildings & Grounds

FY Executive Summary21 Other

FY Executive Summary22 ITSD Proposed costs are established by the County of Fresno Information Technology Services Department (ITSD)

FY Executive Summary23 Utilities

FY Executive Summary24 Methodology $ 1,980,972 $ 2,050, 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, A 19.5% increase from Prior Year Projected Expenses

FY Executive Summary25 Fresno County Employees’ Retirement Association Calculation of Estimated Maximum Administrative Budget For Budget Year