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Exhibit A
City of Miami GESE Retirement Trust FY 2017-18 Actual I FY 2018-19 Actuall FY 2019 - 20 Actual I FY 2020-21 Budgetl FY 2020-21 Projection FY 2021-22 Proposed Change Number of Full -Time Positions Approved budget $115,707 $112,477 $113,712 $110,903 $110,903 $110,991 Approved budget $115,707 $112,477 $113,712 $110,903 $110,903 $110,991 Approved Budget Grand Total Expenditures 9/30/2018 9/30/2019 9/30/2020 9/30/2021 9/30/2021 9/30/2022 Regular Salary and Wages $36,045 $36,045 $36,045 $35,045 $35,045 $35,045 Fringe Benefits - - - - - - FICA Taxes $3,732 $3,067 $3,067 $3,278 $3,278 $3,278 Retirement Contributions - - - - - - Life and Health Insurance - Workers' Compensation - - - - - Professional Services - Legal $5,000 $5,000 $5,000 $5,000 $5,000 $10,000 Professional Services $27,578 $35,135 $37,135 $44,335 $44,335 $42,335 Accounting and Auditing $1,500 $1,500 $1,500 $1,440 $1,440 $1,440 Other Contractual Services - - - - - - Travel and Per Diem - - - - - - Communications and Related Services $300 $300 $330 $310 $310 $400 Postage $150 $150 $150 $150 $150 $150 Utility $230 $230 $230 $230 $230 $288 Rentals and Leases $300 $300 $300 $250 $250 $265 Repair and Maintenance Services $22,650 $18,100 $18,100 $16,160 $16,160 $13,050 Printing and Binding $750 $750 $550 $550 $550 $550 Advertising and Related Costs $50 $50 $50 $50 $50 $50 Office Supplies $600 $600 $600 $450 $450 $425 Operating Supplies - - - - - Motor Fuel Public Safety Supplies Subscriptions, Memberships, and Licenses - - - - - - Insurance $1,488 $1,800 $1,750 $1,750 $1,750 $1,975 Machinery and Equipment - - $1,455 $1,455 $1,455 $1,290 Insurance deductible in case of loss/ ex: Hurricane - - - - - - Depreciation $450 $450 $450 $450 $450 $450 Budget Reserve - Expenditure Grand Total $100,8231 $103,4771 $106,7121 $110,903 $110,9031 $110,991 Difference 1 $14,8851 $9,0001 $7,000 $0 $0 $0 Printed: 7/29/20213:18 PM Page 1 of 1 Excess Benefit Budget Approved At The Board of Trustees Meeting on April 16, 2021 For the fiscal year ending September 30, 2022 Personnel Services 512000 Salaries & Fringe Benefits - Based on expected cost of excess benefit salaries (5 % of GESE's Budget) 512000 Salaries (GESE-Staff Excess Plan) - Based on expected cost of excess benefit salaries (GESE's Budget) 521000 Payroll Tax Expense - Based on Percentage of Excess Salary expenditure Professional Services 531000 Consulting Actuary Fee per contract for Excess actuarial valuation - Special Projects(Not based on GESE's Budget) GASB 67 & 68 531000 Auditing Services - Financial Statements (2 % of GESE's budget) - Comprehensive Annual Financial Report-CAFR 531000 Other Services - Bank Service Fees/Paychex 531000 Computer Specialists - Based on 5 % of GESE's Budget 531010 Legal Fees - 5 % Based on Attorney's fees - 5 % IRS Private Letter Ruling Office & Administrative 541000 Communications & related services - Local, long distance, internet and cell phone service - 1% of GESE's Budget 541100 Postage - Based on estimated amount (1% of GESE's Budget) 547100 Printing & Binding - Outsourcing - Based on 5% of GESE's Budget 548100 Advertising & Related Costs - Based on 1 % of GESE's Budget 551000 Office Supplies & Meeting Expenses -Based on1%of GESE's Budget Insurance & Occupancy 545000 Insurance - Commercial property & liability - Based on estimated amount and 1% of GESE's Budget 545000 Insurance- Fidelity & Fiduciary -Based on 1 % of GESE's Budget 543000 Utility Services - Electricity, water, sewer & garbage based on 1% of GESE's Budget 544000 Rentals & Leases - Based on estimated amount and 1% of GESE's Budget 546000 Repair & Maintenence Services - IT Repairs & Customizations (Pension/Accounting/Servers) -Based on 3% of GESE's Building Maintenance 559000 Bldg Use Allowance / Depreciation - Use of GESE building based on 1% of GESE's Budget 664000 Machinery & Equipment - Use of GESE building based on 3% of GESE's Budget TOTAL ADMINISTRATIVE COSTS 2020/2021 2021/2022 Board Approved Board Proposed Budget Budget $34,045 $34,045 $1,000 $1,000 $3,278 $3,278 25,000 $37,000 $35,000 5,000 5,000 35,000 720 $1,440 $1,440 720 1,440 $1,985 $1,985 $5,350 $5,350 $5,000 $5,000 $0 $5,000 $310 $400 $150 $150 $550 $550 $50 $50 $450 $425 $550 $675 $1,200 $1,300 $230 $288 $250 $265 9,000 4,050 13,050 $16,160 $13,050 $450 $450 $1,455 $1,290 *VloPEES'&*14 c s Ff e05 /AFMFNI � $110,903 $110,991 0.08% Excess B.dg& 2021-22 EXCESS BUDGET - EH 512512021 6:20 PM