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Exhibit A
City of Miami GESE Retirement Trust Budget Template FY 2022-23 Proposed Budget FY 2018-19 Actual FY 2019-20 Actual FY 2020 - 21 Actual FY 2021-22 Budget FY 2021-22 Projection FY 2022-23 Proposed Number of Full -Time Positions Approved budget $112,477 $113,712 $110,903 $110,991 $110,991 $106,363 Approved budget $112,477 $113,712 $110,903 $110,991 $110,991 $106,363 Approved Budget Grand Total 0 0 - Expenditures 9/30/2019 9/30/2020 9/30/2021 9/30/2022 9/30/2022 9/30/2023 Regular Salary and Wages $36,045 $36,045 $35,045 $35,045 $35,045 $35,000 Fringe Benefits - - - - - - FICA Taxes $3,067 $3,067 $3,278 $3,278 $3,278 $2,957 Retirement Contributions - - - - - - Life and Health Insurance - - - - - - Workers' Compensation - - - - - - Professional Services - Legal $5,000 $5,000 $5,000 $10,000 $10,000 $5,000 Professional Services $35,135 $37,135 $44,335 $42,335 $42,335 $43,050 Accounting and Auditing $1,500 $1,500 $1,440 $1,440 $1,440 $1,440 Other Contractual Services - - - - - - Travel and Per Diem - - - - - - Communications and Related Services $300 $330 $310 $400 $400 $1,300 Postage $150 $150 $150 $150 $150 $150 Utility $230 $230 $230 $288 $288 $296 Rentals and Leases $300 $300 $250 $265 $265 $265 Repair and Maintenance Services $18,100 $18,100 $16,160 $13,050 $13,050 $12,050 Printing and Binding $750 $550 $550 $550 $550 $620 Advertising and Related Costs $50 $50 $50 $50 $50 $60 Office Supplies $600 $600 $450 $425 $425 $400 Operating Supplies - - - - - - Motor Fuel - - - - - - Public Safety Supplies - - - - - - Subscriptions, Memberships, and Licenses - - - - - - Insurance $1,800 $1,750 $1,750 $1,975 $1,975 $1,975 Machinery and Equipment - 1,455.00 $1,455 $1,290 $1,290 $1,350 Insurance deductible in case of loss/ ex: Hurricane - - - - - - Depreciation $450 $450 $450 $450 $450 $450 Budget Reserve - - - - - - Expenditure Grand Total $103,477 $106,712 $110,903 $110,991 $110,991 $106,363 Change 0% 2% 0% 225% 0% 3% 0% 13% 20% 0% 5% 0% Printed: 8/24/2022 12:09 PM Page 1 of 1 Excess Benefit Budget Approved At The Board of Trustees Meeting on March 18, 2022 For the fiscal year ending September 30, 2023 2021/2022 2022/2023 Board Approved Board Approved Budget Budget Personnel Services 512000 Salaries & Fringe Benefits $34,045 $34,000 - Based on expected cost of excess benefit salaries (5% of GESE's Budget) 512000 Salaries (GESE-Staff Excess Plan) $1,000 $1,000 - Based on expected cost of excess benefit salaries (GESE's Budget) 521000 Payroll Tax Expense - Based on Percentage of Excess Salary expenditure $3,278 $2,957 Professional Services 531000 Consulting Actuary $35,000 $35,000 - Fee per contract for Excess actuarial valuation 25,000 - Special Projects(Not based on GESE's Budget) 5,000 - GASB 67 & 68 5,000 35,000 531000 Auditing Services $1,440 $1,440 - Financial Statements (2% of GESE's budget) 720 - Annual Comprehensive Financial Report-ACFR 720 1,440 531000 Other Services $1,985 $2,300 - Bank Service Fees/Paychex 531000 Computer Specialists - Based on 5% of GESE's Budget $5,350 $5,750 531010 Legal Fees - 5% Based on Attorney's fees $5,000 $5,000 - 5% IRS Private Letter Ruling $5,000 $0 Office & Administrative 541000 Communications & related services - Local, long distance, Internet and cell phone service - 1% of GESE's Budget $400 $1,300 541100 Postage - Based on estimated amount (1% of GESE's Budget) $150 $150 547100 Printing & Binding - Outsourcing - Based on 5% of GESE's Budget $550 $620 548100 Advertising & Related Costs - Based on 1% of GESE's Budget $50 $60 551000 Office Supplies & Meeting Expenses - Based on 1% of GESE's Budget $425 $400 Insurance & Occupancy 545000 Insurance - Commercial property & liability - Based on estimated amount and 1% of GESE's Budget $675 $675 545000 Insurance - Fidelity & Fiduciary - Based on1%of GESE's Budget $1,300 $1,300 543000 Utility Services - Electricity, water, sewer & garbage based on 1% of GESE's Budget $288 $296 544000 Rentals & Leases - Based on estimated amount and 1% of GESE's Budget $265 $265 546000 Repair & Maintenence Services - IT Repairs & Customizations (Pension/Accounting/Servers) 8,000 -Based on 3% of GESE's Building Maintenance 4,050 12,050 $13,050 $12,050 559000 Bldg Use Allowance / Depreciation - Use of GESE building based on 1% of GESE's Budget $450 $450 664000 Machinery & Equipment - Use of GESE building based on 3% of GESE's Budget $1,290 $1,350 TOTAL ADMINISTRATIVE COSTS $110,991 $106,363 -4.17% Excess Budget 2022-23 EXCESS BUDGET - EH 4/19/2022 1:52 PM