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2013–‘14 Salaries & Benefits Budget

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

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2013–‘14 Salaries & Benefits Budget

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  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. New York State Employees’ Retirement Rates (ERS)

  12. New York State Employees’ Retirement Rates (ERS) • 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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