FCERA Budget Proposal Fiscal Year 2005-06

1
FCERA Budget ProposalFiscal Year 2005-06

• Executive Summary
• June 15, 2005

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

3
Budget Goals for 2005-06

• Implementation of the Boards decision on
  final compensation
• Improve member service
• Retain and develop talent through career
  tracks and merit recognition
• Keep up with new challenges created by dynamic
  retirement environment, except for unknown
  ramifications of the final compensation issue

4
Significant Items

• Final Compensation Litigation
• Substantial Increases in Retirement and Health
  Insurance Costs
• Multiple Updates to the Pensions System

5
Presented Methodology to Budget Committee
(1)
(2)
Projected 04-05 Budget 05-06
----------------------- X --------------------
-- Budget 04-05 Projected 04-05


6
Accounting for the DifferenceProposed Budget
2005-06 to Projected Budget 2004-05
7
Salaries BenefitsProjected 2004-05 to Budget
2005-06
8
Overtime Wages

• Final Compensation Issue
• Possible conversion to new bank
• Reclassification of Retirement Supervisor to
  exempt position

9
Regular Wages
10
Benefits
11
Extra-Help Wages
12
Services and SuppliesProjected 2004-05 to Budget
2005-06
13
Fixed Assets
14
Maintenance, Buildings Grounds
15
PENSIONS System
16
Depreciation
17
Utilities
18
Other
19
Liability Insurance
20
Office Expense (Including Postage)
21
Travel and Education (Board Staff)

• Trustee and staff education-related travel

22
ITSD

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

23
Professional Services
24
Professional Services
25
Fresno County Employees Retirement
AssociationCalculation of Estimated Maximum
Administrative BudgetFor Budget Year 2005-06