HomeMy WebLinkAboutExhibit 1CITY OF 1 flAMI GENERAL EMPLOYEES' AND
SANITATION EMPLOYEES' RETIREMENT TRUST
Excess Benefit Budget Proposed To Board of Trustees on March 23, 2012
For the fiscal year ending September 30, 2013
Personnel Services
512000 Salaries & Wages
- Based on expected cost of excess benefit salaries (5% of GESE's Budget)
521000 Payroll Tax Expense
- Based on 10% of Excess Salary expenditure (Nothing to do with GESE)
S42,822
4,282
Professional Services
531000 Consulting Actuary 25,000
- Fee per contract for Excess actuarial valuation 5,000 30,000
- Special Projects(Not based on GESE Budget)
531000 Computer Specialists 5,350
- 5% of GESE's budget
531010 Legal Fees 6,000
- 4% Ronald Silver attorney fees
Office & Administrative
541000 Communications & related services 400
- Local, long distance, interact and cell phone service - 1% of GESE's budget
541100 Postage 250
- Based on estimated amount (1% of GESE's Budget)
547100 Printing & Binding - Outsourcing 750
- Based on 5% of GESE's Budget
548100 Advertising & Related Costs 50
- Based on 1% of GESE Budget
551000 Office Supplies 450
- Amount based on la/0 of GESE budget
Insurance & Occupancy
545000 Insurance - Commercial property & liability 400
• Based on estimated amount and 1% of GESE budget
545000 Insurance - Fidelity & Fiduciary 600
- Based on 1% of GESE Budget
543000 Utility Services
- Electricity, water, sewer & garbage based on 1% of GESE Budget
544000 Rentals & Leases
- Based on estimated amount and 1% of GESE budget
546000 Repair & Mnintenence Services
- Customizations to PensionGold
- Based on 1% of GESE maintenance
559000 Depreciation
- Depreciation of Bridgeport bldg based on 1% of GESE Budget
TOTAL ADMINISTRATIVE COSTS
280
400
15,000
1,824 16,824
450
S109,307
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C.R. 3/14/20125:20 PM