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2013–‘14 Salaries & Benefits Budget Board of Education March 12, 2013.

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Presentation on theme: "2013–‘14 Salaries & Benefits Budget Board of Education March 12, 2013."— Presentation transcript:

1 2013–‘14 Salaries & Benefits Budget Board of Education March 12, 2013

2 Salaries & Benefits Budget Overview ►Largest component of the budget ♦ Driven by labor contracts ▪ Salaries ▪ Health & other benefits ♦ Retirement ♦ Represents 65% of total cy budget (70% net of debt service) ♦ Build “appropriated” fund balance into expenditure ▪ Typically $0 net budget impact

3 Salaries & Benefits Budget Assumptions ►Carry forward of current year staff ►Includes retirement info

4 Salaries & Benefits Budget Assumptions ►Anticipated health insurance rates ♦ Actual anticipated increase of 5.0% for NY 44 Health Trust Plan ♦ 3.4% for budget purposes ►105(h) & other benefit provisions ♦ No change ►Summer 20 & 11 month pay ♦ Consistent ►Teachers Retirement System 11.35% (9.50% in 2012- 13) ►Employee Retirement System 13.50% (12.75% in 2012-13)

5 Salaries & Benefits Budget Models ►Salaries ♦ PFA ♦ PAA ♦ Clerical ♦ Admin ♦ Head Custodians ♦ Individual ►Health benefits ♦ Health & other insurance ♦ 105(h) ►ERS/TRS/FICA ♦ Model provided within budget worksheet

6 Salaries & Benefits Budget Summary

7 Salaries ►Carry forward of current year staff ♦ Reflects adjustment between BOCES and Pioneer staff ♦ Food service clerical support from 0.50 FTE to 1.0 FTE ▪ $10,723 ►Represents contractual increases ►Summer 20 & 11 month pay ♦ Consistent (1,580 summer days) ►Assumes federal funds will stay at current levels

8 Health Benefits & Retirement ►Health benefits ♦ Health insurance ▪ NY44 Health Benefit Trust – 5.0% increase in premiums ♦ 105(h) ♦ Life insurance ►ERS/TRS

9 New York State Teachers’ Retirement Rates (TRS) ►Budgeted Employee Contribution Rate ♦ 11.35% ♦ Long term focused ♦ Objective is to minimize volatility

10 New York State Employees’ Retirement Rates (ERS)

11

12 ►Long Term Contribution Estimates ♦ 11.0% - 15.8%

13 Budgeted TRS & ERS ►Budget TRS & ERS for the long term… ♦ TRS (12%-14%) ♦ ERS (11.0% - 15.8%)

14 Other Expense ►Other “people” driven expense ♦ FICA (7.65%) ▪ Correlated with salaries ♦ Workers comp ♦ Unemployment insurance ♦ Disability ♦ Separation benefit

15 Appropriated Fund Balance & Reserves ►Spending plan does not ordinarily intend on using appropriated fund balance or reserves ♦ Emergency purposes/flexibility ♦ Approx. $1,800,000 exposed

16 Appropriated Fund Balance & Reserves

17 Enrollment Info

18 Presentations to date…

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