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HomeMy WebLinkAboutExhibit 1PAYROLL CITY OF NIIANII GESE EXCESS BENEFIT PLAN APPROVED BUDGET FOR FISCAL YEAR 2005/2006 The following approved budget for fiscal Year ending September 30, 2006 represents the financial requirements necessary to support an approx. $493 Thousand Trust Fund which serves approximately 31 retirees. SALARIES & WAGES 001 CLASS PERM -FULL TIME 1 Excess Benefit Plan Analyst Overtime - Audit/Accounting/Special Proj Subtotal 100 Payroll Tax Expense 150 Workers' Compensation Total 2005/2006 APPROVED BUDGET $5,810 $0 5,810 639 35 674 FRINGE BENEFITS: 213 Retirement Contributions 724 130 Group Insurance Contributions 1,106 Total 1,830 TOTAL PAYROLL $8,314 g120051oudgellExcessAn nualO6ab /Ap pro v ed EXCEss 1 CR 7H/2005 2005/2006 APPROVED BUDGET OPERATING EXPENSES -ACTUARIAL * 212 ACTUARIAL REQUIR MENT 476,497 OPERATING EXPENSES -FIXED 280 AUDITING FEES 6,500 410 TRAVEL/EDUCATIONAL/IRAINING 86 420 TRAVEL/EDUCATIONAL/OTHER 600 495 PARKING 0 533 POSTAGE 155 540 ELECTRICITY 180 560 WATER 60 610 RENTAL OF EQUIPMENT -OUTSIDE 110 620 RENT - OFFICE SPACE 424 640 INSURANCE - PROPERTY 450 (Commercial, General Liability, and Commercial Property) 650 INSURANCE - LIABILITY 1,300 (Fiduciary & Fidelity) TOTAL OPERATING EXPENSES -FIXED $9,865 * Covers 01/01/05 - 12/31/05 01/01/06 - 09/30/06 unknown at this time q/20051BudgettExcessAnnua I06ab IApprovedE(CESS 2 CR 7!1/2005 2005/2006 APPROVED BUDGET OPERATING EXPENSES -VARIABLE 083 CAR ALLOWANCE $0 210 PROF. SERVICES - ACTUARIAL 25,000 250 PROF. SERVICES - LEGAL 10,000 260 PROF. SERVICES - MEDICAL (Board's medical advisors and specialists) 0 270 PROF. SERVICES - OTHER -Investment Consultants 0 - Bank Fees 2,700 - Programmer 1,000 -Other Services 0 (Paychex Inc.) - Budget Reserve for ER Expenditures 1,500 287 ADVERTISING 100 510 COMMUNICATION SERVICES 166 ( Office Telephone service) 670 REPAIR/MAINTENANCE - OUTSIDE 1,250 680 PRINTING/BINDING - OUTSIDE 350 (stationery, checks, annual reports,eIc.) 700 OFFICE SUPPLIES 700 722 MISC. SUPPLIES - NOTARIES 0 755 REPRODUCTION SERVICE 35 760 MEMBERSHIPS & PUBLICATIONS 58 TOTAL OPERATING EXPENSES -VARIABLE $42,859 gf2005IBudgetfExceaaAnnual05ab /AppravedE(CESS 3 CR 7/112005 CAPITAL OUTLAY 840 EQUIPMENT - NEW 840 AIR CONDITIONING UNIT 841 OFFICE FURN - NEW TOTAL CAPITAL OUTLAY 2005/2006 APPROVED BUDGET 40,000 $0 0 $40,000 TOTAL BUDGET $577,536 BUDGET BREAKDOWN TOTAL ACTUARIAL FUNDING TOTAL ADMINISTRATIVE COST Total Budget SUMMARY OF ADMINISTRATIVE COSTS $476,497 101,039 $577,536 TOTAL PAYROLL $8,314 TOTAL OPERATING EXPENSE - FIXED 9,865 TOTAL OPERATING EXPENSE - VARIABLE 42,859 TOTAL CAPITAL OUTLAY 40,000 Total Admin. Costs $101,039 q/2005IBudgst/ExcnssAnnual05ab IApprovadE<CESS 4 CR 7H12005