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HomeMy WebLinkAboutExhibitGESE Retirement Trust City of Miami, GESE Retirement Trust Excess Budget Template FY 2013-14 Actual FY 2014-15 Actual FY 2015-16 Actual FY 2016-17 Budget FY 2017-18 Proposed Approved budget Approved budget $109,307 $109,307 $116,307 $116,307 $115,707 Approved Budget Grand Total $109,307 $109,307 $116,307 $116,307 $115,707 Expenditures 9/30/2014 9/30/2015 9/30/2016 9/30/2017 9/30/2018 Regular Salary and Wages $42,822 $42,822 $42,822 $36,865 $36,045 Fringe Benefits FICA Taxes $4,282 $4,282 $4,282 $3,820 $3,732 Retirement Contributions Life and Health insurance Workers' Compensation Professional Services - Legal $6,000 $0 $0 $7,000 $5,000 Professional Services $35,350 $30,620 $35,275 $41,392 $43,650 Accounting and Auditing Other Contractual Services/ Medical advisors Travel and Per Diem Communications and Related Services $400 $400 $400 $300 $300 Postage $250 $250 $250 $150 $150 Utility $280 $280 $280 $280 $230 Rentals and Leases $400 $400 $400 $300 $300 Repair and Maintenance Services $16,824 $16,824 $16,824 $22,650 $22,650 Printing and Binding $750 $750 $750 $750 $750 Advertising and Related Costs $50 $0 $0 $50 $50 Office Supplies $450 $450 $450 $600 $600 Operating Supplies Motor Fuel Public Safety Supplies Subscriptions, Memberships, and Licenses Insurance $1,000 $1,000 $1,000 $1,700 $1,800 Machineray and Equipment Insurance deductbile:(loss/Hurricane/other} Depreciation $450 $450 $450 $450 $450 Budget Reserve Grand Total $109,307 $98,528 $103,183 $116,307 $115,707 Difference $0.00 $10,779.00 $13,124.00 $0.00 $0.00 Change -0.5% -2.2% -2.3% -28.6% 5.5% 0.0% 0.0% -17.9% 0.0% 0.0% 0.0% 0.0% 0.0% 5.9% 0.0% -0.5% Excess Budget 2017-2018 7/20/20174:41 PM CITY OF MIAMI GENERAL EMPLOYEES' AND SANITATION EMPLOYEES' RETIREMENT TRUST Excess Benefit Budget Approved At The Board of Trustees Meeting on March 17, 2017 For the fiscal year ending September 30, 2018 2016/2017 2017/2018 Personnel Services Board Approved Board Proposed 512000 Salaries & Fringe Benefits Budget Budget - Based on expected cost of excess benefit salaries (5% of GESEs Budget $35,865 $35,045 512000 Salaries (GESE-Staff Excess Plan) - Based on expected cost of excess benefit salaries (GESE's Budget 521000 Payroll Tax Expense - Based on 10% of Excess Salary expenditure Professional Services 531000 Consulting Actuary - Fee per contract for Excess actuarial valuation 25,000 - Special Projects(Not based on GESE Budget) 5,000 - GASB 67 7,000 37,000 $1,000 $1,000 $3,820 S3,732 $37,000 $37,000 531000 Auditing Services $0 $1,500 - Based on 1%. of GESE's budget - Financial Statements 750 - Annual CAFR 750 1,500 531000 Computer Specialists - 5% of GESE's budget 531010 Legal Fees - 5% RAS-Attorney fees - 5% IRS Determination Letter 5,000 0 5,000 $4,392 $5,150 $7,000 $5,000 Office & Administrative 541000 Communications & related services - Local, long distance, Internet and cell phone service - 1% ofGESE's budge $300 $300 541100 Postage - Based on estimated amount (1% of GESEs Budget; 547100 Printing & Binding - Outsourcing - Based on 5%u of GESE's Budget 548100 Advertising & Related Costs - Based on 1% of GESE Budget 551000 Office Supplies & Meeting Expenses - Amount based on 1% of GESE budget $150 $150 $750 $750 $50 $50 $600 $600 Insurance & Occupancy 545000 Insurance - Commercial property & liability - Based on estimated amount and 1% of GESE budget $500 $550 545000 Insurance - Fidelity & Fiduciary - Based on 1% of GESE Budget 543000 Utility Services - Electricity, water, sewer & garbage based on I% of GESE Budges 544000 Rentals & Leases - Based on estimated amount and I % of GESE budget $1,200 $1,250 $280 $230 $300 $300 546000 Repair & Maintenence Services - Customizations to PensionGold 15,000 - Based on 3% of GESE Building Maintenance 7,650 $22,650 $22,650 559000 Bldg Use Allowance 1 Depreciation - Use of GESE building based on I% of GESE Budget $450 $450 TOTAL ADMINISTRATIVE COSTS SI 16,307 $115,707 -0.S% I:�«av 11udg�-i 2i)17-IN EXCESS BUDGET - EH 5/4/2017 2:02 PM