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HomeMy WebLinkAboutExhibitGESE Retirement Trust City of Miami, GESE Retirement Trust Excess Budget Template FY 2014-15 Actual FY 2015-16 Actual FY 2016-17 Actual FY 2017-18 Budget FY 2017-18 Projection FY 2018-19 Proposed Difference Approved budget Approved budget $109,307 $116,307 $116,307 $115,707 $115,707 $112,477 -3% Approved Budget Grand Total $109,307 $116,307 $116,307 $115,707 $115,707 $112,477 Expenditures 9/30/2015 9/30/2016 9/30/2017 9/30/2018 9/30/2018 9/30/2019 1% Regular Salary and Wages $42,822 $42,822 $36,865 $36,045 $36,045 $36,045 0% Fringe Benefits - FICA Taxes $4,282 _ $4,282 $3,820 $3,732 $3,732 $3,067 -18% Retirement Contributions _ Life and Health Insurance - Workers' Compensation - Professional Services - Legal $0 $0 $7,000 $5,000 $5,000 $5,000 0% Professional Services $30,620 $35,275 $25,048 $42,150 $42,150 $44,135 5% Accounting and Auditing $1,500 $1,500 $1,500 0% Other Contractual Services/ Medical advisors Travel and Per Diem _ Communications and Related Services $400 $400 $300 $300 $300 $300 0% Postage $250 $250 $150 $150 $150 $150 0% Utility $280 $280 $280 $230 $230 $230 0% Rentals and Leases $400 $400 $300 $300 $300 $300 0% Repair and Maintenance Services $16,824 $16,824 $22,650 $22,650 $22,650 $18,100 -20% Printing and Binding $750 $750 $750 $750 $750 $750 0% Advertising and Related Costs $0 $0 $50 $50 $50 $50 0% Office Supplies $450 $450 $600 $600 $600 $600 0% Operating Supplies - MotorFuel - Public Safety Supplies Subscriptions, Memberships, and Licenses Insurance $1,000 $1,000 $1,700 $1,800 $1,800 $1,800 0% Machineray and Equipment - Insurance deductbile incase of loss/ ex:Hurricane - Depreciation $450 $450 $450 $450 $450 $450 0% Budget Reserve - Grand Total $98,528 $103,183 $99,963 $115,707 $115,707 $112,477 -3% EXCESS BUDGET 2019-19 Prepared by EH 7/31/2018 Excess Benefit Budget Approved At The Board of Trustees Meeting on March 23, 2018 For the fiscal year ending September 30, 2019 Personnel Services 512000 Salaries & Fringe Benefits - Based on expected cost of excess benefit salaries (5% of GESE's Budget; 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 2017/2018 2018/2019 Board Approved Board:,pprovcd Budget Budget S35,045 $35,045 $1,000 $1,000 S3,732 $3,067 Professional Services 531000 Consulting Actuary 25,000 $37,000 $37,000 - Fee per contract for Excess actuarial valuation 5,000 - Special Projects(Not based on GESE's Budget) 7,000 - GASB 67 & 68 37.000 531000 Auditing Services 750 $1,500 $1,500 - Financial Statements (I% of GESE's budget) 750 - Annual CAFR 1,500 531000 Other Services $0 $1,985 -Bank Service Fees 531000 Computer Specialists -5%ofGESE's budget $5,150 $5,150 531010 Legal Fees - 5% RAS-Attorney's fees $5,000 $5,000 Office & Administrative 541000 Communications & related services - Local, long distance, intemet and cell phone service - 1 % of GESE's budge $300 $300 541100 Postage - Based on estimated amount (1% of GESE's Budget) $150 $150 547100 Printing & Binding - Outsourcing - Based on 5% of GESE's Budget $750 $750 548100 Advertising & Related Costs - Based on 1% of GESE's Budget $50 $50 551000 Office Supplies & Meeting Expenses - Amount based on I% of GESE's budget $600 $600 Insurance & Occupancy 545000 Insurance - Commercial property & liability - Based on estimated amount and 1% of GESE's budget $550 $550 545000 Insurance - Fidelity & Fiduciary -Basedon 1%of GESE's Budget $1,250 $1,250 543000 Utility Services - Electricity, water, sewer & garbage based on 1% of GESE's Budges $230 $230 544000 Rentals & Leases - Based on estimated amount and l% of GESE's budget $300 $300 546000 Repair & Maintenence Services 10,600 - IT Repairs & Customizations (Pension -Accounting -Servers; 7,500 - Based on 3% of GESE's Building Maintenance 18,100 $22,650 $18,100 559000 Bldg Use Allowance / Depreciation - Use of GES£ building based on 1% of GESE's Budgel $450 $450 TOTAL ADMINISTRATIVE COSTS $115,707 $112,477 3% Excess Midget 201K-19 EXCESS BUDGET • EH 5/1712018 4.--32 PM