HomeMy WebLinkAbout55 - PH-1 - Attachment 4 - 7/7/2015Council
-01
Fiscal Impact Analysis for COIN Ordinance
New CMCEA Base Financial Analysis
Based on Fiscal Year 2015-16 Budgeted Costs
Existing Contract
Estimated FY 15-16
Cost to CiN (51
$16.677.394
3,452,358
403,572
1.128.725
4.984.655
2,602,608
14.959
3,328
3,500
44,679
1,250
240,494
40,767
87,341
43,143
4,557
17,346
1,007,316
224,870
0
$26.110.207
236
ATTACHMENT IV
Settlement Existing Projected
Tenn Sheet Unfunded Unfunded
13 -May -15 Liability Uabii'tv
17,500,316 (7)
5,231,317
2,602,608
132,038
3,462
3,500
46,466
1,300
252,427
42,398
9D,835
44,869
4,739
17,346
1,057,019
233,865
0
$27,264.504
$1,154297
236
$78,789,261 (4)
15,543,332 (1)
Existing Projected
Funded Funded
UebiIIN Uabitly
$153,254,794 (4)
P
Gary O ehan, Cduncil Mem
(1)- 6.04% rate per employee is nm explicit in the contract, however is calculated based on the Annual Required Contribution (ARC) amount
calculated as of June 30, 2014 by Nyhad, an independent actuary for GASB 45 compliance, and documented In the Chys CAFR.
Existing net unfunded Ilability Is 93.2% of covered payroll based on the June 2014 Nyhan report.
(2) - Prorated sham based on FY 14.15 ratio of total overtime cost to total regular salaries.
(3) - Current MOU eliminated cash out of slCk leave balances.
(4) Existing amounts from PERS valuation for Miscellaneous employees dated October 2014—including non-CMCEA represented employees.
(5) The FY 15-16 Preliminary Budget is in development. Coundl Adoption scheduled for June 15, 2015.
(6) Estimated based on 10 months actual of $1,039 for FY 14.15.
(7) Provides for a 4% general salary increase and mart increases unfrozen effective July 1, 2015.
Value of
Payl
Benefit
Base Salary
Pension / Retirement Benefits
2.5%Q 55
2% Q 60
2% (03 62
Total Retirement
Cafeteria Plan Benefits
$ 91588
Bilingual Pay
5.00%
Bilingual Pay
2.50%
Class A / B License Pay
$700
Emergency Med Dispatch Pay
5.00%
Matron Pay (6)
MediCom
1,45%
Shift Differential Pay
5.00%
Shift Differential Pay
7.50%
Shit Ddferentie9AM Pay
10.00%
Shorthand Pay
2.50%
Uniform Pay
$ 197
Estimated Costs:
Retiree Medical
6.04%(1)
Overtime
(2)
Excess Animal Payoff Cashouts (3)
Total
Increase:
Total Number of EmpsL
Council
-01
Fiscal Impact Analysis for COIN Ordinance
New CMCEA Base Financial Analysis
Based on Fiscal Year 2015-16 Budgeted Costs
Existing Contract
Estimated FY 15-16
Cost to CiN (51
$16.677.394
3,452,358
403,572
1.128.725
4.984.655
2,602,608
14.959
3,328
3,500
44,679
1,250
240,494
40,767
87,341
43,143
4,557
17,346
1,007,316
224,870
0
$26.110.207
236
ATTACHMENT IV
Settlement Existing Projected
Tenn Sheet Unfunded Unfunded
13 -May -15 Liability Uabii'tv
17,500,316 (7)
5,231,317
2,602,608
132,038
3,462
3,500
46,466
1,300
252,427
42,398
9D,835
44,869
4,739
17,346
1,057,019
233,865
0
$27,264.504
$1,154297
236
$78,789,261 (4)
15,543,332 (1)
Existing Projected
Funded Funded
UebiIIN Uabitly
$153,254,794 (4)
P
Gary O ehan, Cduncil Mem
(1)- 6.04% rate per employee is nm explicit in the contract, however is calculated based on the Annual Required Contribution (ARC) amount
calculated as of June 30, 2014 by Nyhad, an independent actuary for GASB 45 compliance, and documented In the Chys CAFR.
Existing net unfunded Ilability Is 93.2% of covered payroll based on the June 2014 Nyhan report.
(2) - Prorated sham based on FY 14.15 ratio of total overtime cost to total regular salaries.
(3) - Current MOU eliminated cash out of slCk leave balances.
(4) Existing amounts from PERS valuation for Miscellaneous employees dated October 2014—including non-CMCEA represented employees.
(5) The FY 15-16 Preliminary Budget is in development. Coundl Adoption scheduled for June 15, 2015.
(6) Estimated based on 10 months actual of $1,039 for FY 14.15.
(7) Provides for a 4% general salary increase and mart increases unfrozen effective July 1, 2015.