HomeMy WebLinkAboutExhibit 2Explanation of Approved Budget for Flood Year 2005/2006
Psyrolls
001 Salaries & Wages
• Based on expected cost of salaries. Increases are based on individual contributions $581,032
made to the ilinctioning of (hie organization, educational and professional experiences.
011 Hoard Members $2l,600
- Unchanged. 5300/Mo X 6 board members
100 Payroll Tax Expense $63,414
- Based on Salary expenditure
150 Worker' Compensation g3,500
- Based on estimated amount
213 Retirement Contributions $72,380
- Actuarially determined coat for Staff Defined Benefit Plan
130 Group Insurance
• Health Insurance ($7,825.15/month x 12moep$93,901.80) 93,902
• Dental Insurance ($250/month x l2moa x >1,06554$3,195,00) 3,195
• Life Insurance ($220/month x 12mos x >1.0992%=$2,901.89) 2,902
• I)ieability Insurance ($350/month x 12mas x >1.0992%,-54,616.64) 4,617
- Provision for employee's family changes & Ins. rate increase 6,000
$110,615
Operating Expenses - Actuarial'
212 Actuarlel Requirement
- Based on actuarial valuation to determine minimum inquired contribution for FY 2005/2006
Due 10/01/2005 (Assumes one lump sum pmt: $22,018,443)
Operating Expenses - Fixed:
280 Auditing Feet
- Based on Historical Costa
410 Travel/Educetlonal/Cratning
• Staff training/education
• Sandra's college credit courses:
Total
420 Travel/Educellanal/Other
- Based on estimated amount of In -State & Out of Stale Conferences
495 Parking
• Based on relocating to UESE's 131dg
533 Postage
• Based an estimated amount
540 Electricity
• - Based on estimated amount
560 Water
-Based on estimated amount
610 Rental of Equipment - Oulskle
• Based on last year expenditure.
000eiauda.4nl1o4ET EXP ANATI0N sweuApprovod eipun.eon
1,000
76, 00
8,600
$110,615
$22,018,443
$65,000
$8,600
$60,000
$0
S 15,500
$18,000
$6,000
$11,000
c.R,7113/70o5
Explafsetion of Approved Budget for Fiscal Year 2005/2006
620 Rent - Office Space
• Based on depreciation of O.E.S.E, Bldg located at 2401 Bridgeport Avo,
using 39 yr, atn,ight Tine depreciation.
640 Insurance- Property
• Based on historical numbere,oun'nt estimate, & insurance on new building
650 Insurance • Liability
- Based on historical numbers & current estimate
Operating Expenses- Variable:
083 Car Allowance
Sandra: $500/Mo. X 12 Months
210 Prof, Services - ActuariiI
• Fee per contrraot for O,E,S.E. actuarial valuation:
Additional actuarial expenditure estimate
Fee for StaffDB Plan & Excess Benefit Plan actuarial valuation
Total
250 Prof. Services - Legal
• Ronald Silver's foes
Repaid Silver's Annuity
Additional legal expenditure is intimated to be:
( Includes work for possible legal action, lax attorney,
ordinance revisions, etc.)
260 Prof. Services - Medical
- Estimated amount based on current trend
270 Prof, Services - Other:
Investment Advisor
Fee for 1 Active Money Manager (5300,000 X 40baals points)
Investment Consultant
- Quarterly Performance Evaluation ($9,450.84 " 12) + 5% incites,
Travel Expenses ($730 . 8 - $6,000,00)
Research Provided for the Comprehensive Financial Annual Report
Staff Pension Plan ®$4,000 & Drop Plan ® $10,000
Miso Expenses
Total
Custodian Fees
- Estimated Assets $600,000,000 X 1.75 Basis Points/Yr.
Transaction Fees : $ 12.50 x 590Trades-$7,375 x 12mos-S88,500
Portfolio Chrga 10 active Mgr" 3 paaaivd$4,000/mgr-$40,000 plus SI,5001fret
Poeoible Custodial Fee Increase
Pees for StaffDB Plan
Total
Programmer
g4005,au4piV9U0dET-FAPLANATION2005WA prmndB,plan+eon
2I,000
34,000
32,000
87,000
73,000
22,000
100,000
197,000
15,000
1,200
119,081
6,000
7,300
14,000
10,000
156,581
105,000
88,500
41,500
30,000
5,000
270,000
10,000
$42,411
$45,000
$130,000
$6,000
587,000
5197,000
$15,000
$1,200
$156,$81
$2700,000
$50,000
CA,71 0.1005
Explanation of Approved Budget for Fiscal Year 2005/2006
Other Servlees
- Paychex Payroll Services ($ l55/month x 12'11,860) 1,860
Court Reporter 3,000
Computer Coneultant-Service contract & Historical 15,000
Computer Consultant•Staff DB Plan 5,000
Other Misc,(Bank Chgrs) 5,000
Total 29,860 $29,860
Budget Swerve far ER Expenditure' 15,000 $15,000
267 Advertieing
- Estimated based on peel experience & knowing that each Miami Herald display
advertisement cost apples. 5650, and other papas range $250 • $400
510 Communication Services
• 1 Cellular Phone allowance ® 5100/Mo. 1,200
• 1 Cellular Phone (538.20 x 12= $698,40) 696
- 1 Cellular Phone for 13CP ($36.07 x 12= $432,84) 433
3 Pages ® $23/Mo, 276
Phone Service inoluding Local, Long distance and Internet 12,000
Miscellaneous 2,000
16,607
670 Repairs & Melntenence - Outside
- Estimated amount based on market value of current equipment (Category
includes repairs & upgrades to computer equip„ copiers, check bunter, Microfilmer)
and maintenance to new office) 559 qtr-webpage, imaging maint., janitorial 51200/monthly,
wastemgml 5150/month, landscaping $1000/month, security Pyrtem $38/month,
Contingency $1,500/month, elevator maintenance $168/month
Water and Sewer $400/month
$10,000
$16,607
48,320 $125,000
680 Printing & Binding - Outside
Annual Report 17,000
Checks 4,000
Direct Deposit Statements 3,500
Other Stationery 10 500
35,000 $35,000
700 Moe Supplies
• Amount based on past and current expenditure 35,000 $35,000
722 Misc. Supplies - Notaries
• Amount based on renewal of notary of 3 staff members 1,300 $1,300
755 Reproduction services
- Amount based on purchases of magnetic tapes and C.Da to run data back up 3,500 $3,500
760 Membership & Publications
- FPPTA Membership fees 250
IPHBP Membership faee 650
Government Finance Officers Association 525
CCH Tax guide 250
The Miami Herald 165
Ponaiona & Investments 350
The Wail Street Journal 200
RunzheimerIntl' Travel Price Guide 3,000
Institutional Inventor 150
Computer Software Related Books 300
0300e,13utROBUDGET•raPLANATION 2003,/Aperov,e Explonaton
3
5,840 $6,840
c.R3/1311005
Explanation of Approved Budget for Fiscal Year 2005/2006
Capital Outlay
840 1tqulpment • New
LRS Annual Maintenance for customization per contract 50,000
LRS Annual Maintenance & Support Poe for Imaging Software per contract 7,594
LRS BackFile Conversion ($76,000 per contract & $24,000 poss. Add. Cuetomlzs 100,000
LRS'Huainass Continuance Plan por Contract 36,980
LRS Annual Poe (Maintenance & Support Poo for BCP) 7,580
LRS Annual Backup Fee per contract 2,700
LItS Payroll Processing Foo par Contact 900
Mien Equipment Purchases if needed 50,000
Additional Customizations lfnoaded 50,000
Total — 305,734 $305,754
Air Conditioning 510,000
841 Office Furniture - New $10,000
• Estimated amount based on currontprices fordcsks,chairs, filing cabinets, eta,
GRAND TOTAL; 324.656.037
0200 &nude SleU00E T.F%PIA N AT I ON 2 DeadAOP roved De I snares
4
o.R.miaooc