HomeMy WebLinkAboutExhibit 1CITY OF MIAMI GENERAL EMPLOYEES' AND
SANITATION EMPLOYEES' RETIREMENT TRUST
Excess Benefit Budget Approved By The Board of Trustees on June 5, 2013
For the fiscal year ending September 30, 2014
201212013 2013 12014
Personnel Services Approved Approved
512000 Salaries & Fringe Benefits Budget Budget
-Based on expected cost of excess benefit salaries (5% of GESE's Budget) $42,822 $42,822
521000 Payroll Tax Expense
- Based on 10% of Excess Salary expenditure (Nothing to do with GESE)
4,282 4,282
Professional Services
531000 Consulting Actuary
- Fee per contract for Excess actuarial valuation 25,000
- Special Projects(Not based on GESE Budget) 5,000 30,000 30,000
531000 Computer Specialists
- 5% of GESE's budget 5,350 5,350
531010 Legal Fees
- 4% Ronald Silver attomey fees 6,000 6,000
Office & Administrative
541000 Communications & related services
- Local, long distance, internet and cell phone service - 1% of GESE's budget 400 400
541100 Postage
- Based on estimated amount (1% of GESE's Budget) 250 250
547100 Printing & Binding - Outsourcing
- Based on 5% of GESE's Budget 750 750
548100 Advertising & Related Costs
- Based on 1% of GESE Budget 50 50
551000 Office Supplies
- Amount based on 1% of GESE budget 450 450
Insurance & Occupancy
545000 Insurance - Commercial property & liability
- Based on estimated amount and 1% of GESE budget 400 400
545000 Insurance - Fidelity & Fiduciary
- Based on 1% of GESE Budget 600 600
543000 Utility Services
- Electricity, water, sewer & garbage based on 1% of GESE Budget 280 280
544000 Rentals & Leases
- Based on estimated amount and 1% of GESE budget 400 400
546000 Repair & Maintenence Services
- Customizations to PensionGold 15,000
- Based on I % of GESE maintenance 1,824 16,824 16,824
559000 Depreciation
- Depreciation of Bridgeport bldg based on 1% of GESE Budget
TOTAL ADMINISTRATIVE COSTS
450 450
$109,307 $109,307
Q:12013\Budgel201312014 Annual Budget1ExauAnnualApptoved2014.xlax Exhibit A 1 Excess
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C.R. 6/102013 12:10 PM