The document summarizes the current early retirement plan and costs for MCC, including an incentive payment, insurance benefits for retirees, and premium pay for reemployed retirees. It shows the annual costs total around $4.9 million. It then presents an option to implement a "Rule of 80" retirement plan on July 1, 2013 that would provide a reduced incentive payment but discontinue retiree insurance benefits. This option shows the annual costs decreasing over time as current retirees are no longer receiving insurance benefits.
1) The document discusses the budget and funding for Colorado's Cancer, Cardiovascular Disease and Pulmonary Disease Competitive Grant Program.
2) It notes that revenues for the 2011-2012 fiscal year are trending below projections, putting the program at risk of a cash shortfall by June 30, 2012.
3) Options to remedy the potential shortfall through budget savings in the fund are being identified to avoid reductions to existing grantees.
The document provides the budget presentation for the Garnet Valley School District for fiscal year 2010-2011. It includes a summary of the district's 2009-2010 revenue budget performance and projections, showing revenues are projected to be under budget by $1.2 million. It also outlines the district's 2010-2011 budget, showing a budget to budget increase in revenues of $3.1 million and expenditures of $4.5 million, resulting in an increase to the ending fund balance of $4.5 million. Significant over-expenditures in special education from the prior year are also noted.
This document summarizes the budget information for Park City School District's General Fund for fiscal years 2010 through 2013. It shows that expenditures are expected to exceed revenues, resulting in a depletion of the fund balance. Expenditures are projected to increase by $1.3 million from FY2010 to FY2011, while revenues are estimated to remain flat. The fund balance is projected to decrease from $9.5 million in FY2011 to $443,606 in FY2013 as the deficit grows each year without revenue increases.
The tentative budget document provides an overview of the Clark County School District's budget for the 2013-2014 fiscal year. It highlights several major areas seeing expenditure increases, including employee compensation, bus purchases, staffing levels, and academic initiatives. It also notes declines in areas like state funding, property tax revenues and the ending fund balance. The tentative budget totals over $2.1 billion in expenditures and relies on $34 million in medium-term financing to cover replacement buses and computers.
The document outlines Minnesota Governor Mark Dayton's proposed biennial budget for fiscal years 2012-2013. It identifies a $6.2 billion budget shortfall and describes the governor's balanced approach to addressing it through a combination of expenditure reductions, increased revenues from tax increases and surcharges, and one-time solutions. Key areas like K-12 education and health and human services see targeted funding increases while most other areas face modest expenditure reductions.
The proposed budget for Georgetown ISD for the 2011-2012 school year projects a $3.6 million surplus. Revenues are projected to decrease by $2.5 million from the state due to a revenue deficit, while expenditures are projected to decrease by $6.1 million through reductions in staffing and other areas. The budget maintains the tax rate of $1.04 for maintenance and operations and $0.25 for interest and sinking, for a total tax rate of $1.29. Fund balance is estimated to increase from $16 million in 2010-2011 to $19.6 million in 2011-2012.
The document outlines challenges facing a college including permanent state funding cuts, rising health insurance and retirement costs, and a declining accumulated fund balance. It discusses various strategies under consideration to address the budget issues such as adjusting the allocation model, increasing tuition, managing health insurance and compensation costs, and generating additional revenue through annexation or grants. A timeline is proposed for negotiating changes to take effect in 2012.
The document summarizes the Carlsbad Unified School District's second interim financial report. It notes that while the district can currently meet its financial obligations, it is projecting deficits of $5 million in 2012-2013 and $10.3 million in 2013-2014. Major changes include additional revenues but also expenditure reductions. The district remains in a qualified financial status and must resolve its deficit issues through collective bargaining negotiations over wages and benefits or other measures such as school closures or layoffs.
1) The document discusses the budget and funding for Colorado's Cancer, Cardiovascular Disease and Pulmonary Disease Competitive Grant Program.
2) It notes that revenues for the 2011-2012 fiscal year are trending below projections, putting the program at risk of a cash shortfall by June 30, 2012.
3) Options to remedy the potential shortfall through budget savings in the fund are being identified to avoid reductions to existing grantees.
The document provides the budget presentation for the Garnet Valley School District for fiscal year 2010-2011. It includes a summary of the district's 2009-2010 revenue budget performance and projections, showing revenues are projected to be under budget by $1.2 million. It also outlines the district's 2010-2011 budget, showing a budget to budget increase in revenues of $3.1 million and expenditures of $4.5 million, resulting in an increase to the ending fund balance of $4.5 million. Significant over-expenditures in special education from the prior year are also noted.
This document summarizes the budget information for Park City School District's General Fund for fiscal years 2010 through 2013. It shows that expenditures are expected to exceed revenues, resulting in a depletion of the fund balance. Expenditures are projected to increase by $1.3 million from FY2010 to FY2011, while revenues are estimated to remain flat. The fund balance is projected to decrease from $9.5 million in FY2011 to $443,606 in FY2013 as the deficit grows each year without revenue increases.
The tentative budget document provides an overview of the Clark County School District's budget for the 2013-2014 fiscal year. It highlights several major areas seeing expenditure increases, including employee compensation, bus purchases, staffing levels, and academic initiatives. It also notes declines in areas like state funding, property tax revenues and the ending fund balance. The tentative budget totals over $2.1 billion in expenditures and relies on $34 million in medium-term financing to cover replacement buses and computers.
The document outlines Minnesota Governor Mark Dayton's proposed biennial budget for fiscal years 2012-2013. It identifies a $6.2 billion budget shortfall and describes the governor's balanced approach to addressing it through a combination of expenditure reductions, increased revenues from tax increases and surcharges, and one-time solutions. Key areas like K-12 education and health and human services see targeted funding increases while most other areas face modest expenditure reductions.
The proposed budget for Georgetown ISD for the 2011-2012 school year projects a $3.6 million surplus. Revenues are projected to decrease by $2.5 million from the state due to a revenue deficit, while expenditures are projected to decrease by $6.1 million through reductions in staffing and other areas. The budget maintains the tax rate of $1.04 for maintenance and operations and $0.25 for interest and sinking, for a total tax rate of $1.29. Fund balance is estimated to increase from $16 million in 2010-2011 to $19.6 million in 2011-2012.
The document outlines challenges facing a college including permanent state funding cuts, rising health insurance and retirement costs, and a declining accumulated fund balance. It discusses various strategies under consideration to address the budget issues such as adjusting the allocation model, increasing tuition, managing health insurance and compensation costs, and generating additional revenue through annexation or grants. A timeline is proposed for negotiating changes to take effect in 2012.
The document summarizes the Carlsbad Unified School District's second interim financial report. It notes that while the district can currently meet its financial obligations, it is projecting deficits of $5 million in 2012-2013 and $10.3 million in 2013-2014. Major changes include additional revenues but also expenditure reductions. The district remains in a qualified financial status and must resolve its deficit issues through collective bargaining negotiations over wages and benefits or other measures such as school closures or layoffs.
This document from Hay Group Actuarial compares the financial impact of 6 retirement scenarios for a company's retiree benefits program. Scenario A reflects the current program. Scenarios B-F present alternatives with variations to eligibility ages and benefit types. The analysis calculates the present value and actuarial accrued liability for each scenario based on employee data and assumptions provided to the actuaries. The key variations between scenarios include changes to retirement eligibility ages, the availability of health benefits only or health and incentive pay benefits, and the duration of incentive pay benefits after retirement.
This document summarizes an actuarial report from Hay Group that analyzes the financial impact of 6 different retirement plan scenarios for Monroe County Community College. Scenario A represents the current retirement program, while Scenarios B-F present alternatives that were discussed or suggested. The report calculates the present value and actuarial accrued liability for each scenario based on medical, dental, vision and claims data provided to the actuaries. It provides details on how the incentives were calculated for each relevant scenario.
Forest Preserve District of Cook County 5-year Capital Improvement Plancookcountyblog
ย
The document is the Forest Preserve District of Cook County's 2012-2016 Capital Improvement Plan. It outlines $42 million in capital projects for 2012, with a total of $100 million planned for 2012-2016. The largest areas of investment are habitat restoration at $5.7 million and new trail systems at $8.9 million. Several projects have been deferred from 2011 to allow for comprehensive planning studies in 2012 to better inform future decisions. An increase in general consulting services funding to $2.7 million is requested to support this planning. The plan was developed through input from various stakeholders and evaluates projects based on guidance principles like public access, environmental sustainability, and partnerships.
Coventry Health Care achieved another year of outstanding results in 2003 through organic growth and two strategic acquisitions. Key to its success is Coventry's business model of combining local focus and decision making with centralized expertise to lower administrative costs. This allows Coventry to offer a broad portfolio of products competitively and achieve top three market share in many of its regions. Relentless execution of this proven model continues to drive profitable growth.
This document provides an actuarial valuation as of June 30, 2011 for the Judges' Retirement System II of California. Key findings include:
- The plan's funded ratio increased from 81.1% to 94.5% based on the market value of assets.
- The recommended employer contribution rate for fiscal year 2012-2013 is 22.837% of projected payroll, down from 23.441% in the prior year.
- Changes to economic assumptions, including lowering the assumed inflation rate from 3.0% to 2.75%, reduced the plan's unfunded liability by $38,798.
Northampton Budget FY2012 as of 31 March 2011Adam Cohen
ย
This document summarizes the general fund budget for fiscal year 2012. Total revenues are projected to be $75,545,118, with the largest sources being taxes at $46 million and state revenue from the Cherry Sheet at $15 million. Total proposed expenditures are $77 million, with the largest allocations being $30 million for education, $15 million for employee benefits, and $11 million for public safety. The budget projects a $1.5 million deficit.
The document provides retirement funding assumptions and analysis for a client. It includes economic data, details on the husband and wife, their retirement assets and savings, projected retirement needs, and an analysis showing they will have a shortfall of over $500,000 if changes are not made to increase savings by at least $10,000 annually.
Battle Ground Public Schools Levy Presentation February 25, 2013scottmcd
ย
The document summarizes how Battle Ground School District receives funding and the impact of losing levy funding. It receives funding from the state based on enrollment and staffing levels, special grants, fees, and local levies. Without levy funding, the district would need to cut over $17 million from its budget, reducing staffing and increasing class sizes significantly. This would impact the district's ability to maintain current program and service levels.
Anita Charlesworth: The Funding Outlook for Health Care Nuffield Trust
ย
The document discusses the funding outlook for health in the UK. It shows that while health spending has increased as a percentage of GDP, spending on other public services and tax receipts have decreased. The NHS faces a tight budget period from 2010-2015 as it aims to close a ยฃ13 billion funding gap through measures like pay restraints and improved productivity. Continued austerity is expected through 2017-2018, and unprecedented productivity gains will be needed to close the growing gap between demand and ability to provide quality care. Overall workforce cost growth after 2015 will be a key factor.
1) The document discusses rate-of-return analysis and concepts including internal rate of return (IRR), breakeven interest rate (i*), simple vs. non-simple investments, and cash flow sign rules.
2) It provides examples of calculating i* for various projects using cash flows, present worth analysis, and plotting the net present worth.
3) Mixed investments are discussed along with calculating the rate of return considering both positive and negative cash flows.
The Carlsbad Unified School District Board took action to reduce expenditures by $2.26 million by the end of 2012-2013 to lower their projected deficit to $8.3 million. Expenditure reductions included delaying the opening of a new school, reducing administrative positions, stipends, travel budgets, and discretionary site and department accounts. The Board also eliminated and reduced several programs and classified positions. Given these reductions, the remaining deficit would need to be addressed through reductions to total employee compensation of potentially 14.6%. A state budget shortfall and potential mid-year funding reductions from the state could further increase the district's projected deficit. The district is also pursuing revenue enhancement strategies like renegotiating joint-use
Managerial Accounting Final Budget Analysis P1boscollkid
ย
Post Office Square (POS) serves a younger patient population compared to other HVMA sites, with most patients in their 30s-50s and only 3-4% over age 60. Key services include busy behavioral health, allergy, and primary care practices. The POS management team has concerns about money-losing departments like internal medicine, OB/GYN, and behavioral health. They would like to add orthopedics, sports medicine, and physical therapy services but cannot currently afford the necessary build out costs. No changes are anticipated in the near future due to financial constraints.
- UHS acquired its 100th facility in 2002, a hospital in Lansdale, PA called Central Montgomery Medical Center.
- Construction began on 4 new hospitals - in Las Vegas, Amarillo, Wellington FL, and Lakewood Ranch FL.
- The new George Washington University Hospital opened in Washington D.C. in 2002 after a partnership between UHS and GWU. There was initial skepticism that UHS would prioritize profits over quality that was overcome.
The document discusses the city's major budget issues for FY2011. It is projecting an estimated budget shortfall of $1,185,629 for the fiscal year. Revenue is expected to increase by $895,877 or 2.5% due to tax levy and new growth, but will be offset by reductions in state aid, landfill fees, and loss of one-time stimulus funding. Expenses are projected to rise by over $1 million primarily due to expected increases in health insurance, retirement costs, and other fringe benefits. The shortfall does not include potential increases for special education or other school costs.
Summary of Northampton Budget FY2012 as of 31 March 2011Adam Cohen
ย
The document summarizes the general fund budget for fiscal year 2012. Total revenues are projected at $75.5 million, with the largest sources being taxes at $46.3 million and charges for services at $7 million. Total proposed expenditures are $77.1 million, with the largest allocations being education at $29.9 million, public safety at $11.7 million, and employee benefits at $14.9 million. The budget projects a deficit of $1.5 million.
The Finance Minister presented the 2013-14 Union Budget which included the following key points:
1) No changes to income tax slabs but a 10% surcharge on income over 1 crore and tax rebates for some earners.
2) Measures to simplify rules for foreign investors and allow more foreign investment in stock exchanges and debt markets.
3) Increased allocations to key sectors like defense, health, education, and agriculture while imposing some new taxes and duties.
4) The budget aims to boost growth but economic indicators still forecast slow growth amid a weak macroeconomic situation.
The document provides an overview of the city's expenditures, revenues, and collection efforts for various departments in the first four months of 2012 compared to the same period in 2011 and budget targets. Healthcare expenditures exceeded budget projections due to increased high-cost claims and utilization. Workers compensation claims also exceeded contributions, resulting in a deficit. Parking enforcement revenues exceeded prior year collections, though tickets issued were slightly below targets. Photo safety revenues and citations were lower than the prior year. EMS collections significantly trailed prior year levels.
Analysis of the budget repair bill now stuck in the Wisconsin State Senate. The Legislative Fiscal Bureau is the non-partisan office in the Wisconsin legislature that publishes unbiased assessments of every bill so that it can be understood by the general public. This is a must read document.
GPPSS 2013 Fund Equity Alternate RealityBrendan Walsh
ย
Analysis of the Grosse Pointe Public School System in response to concerns about whether the district could have avoided a significant reduction in its fund equity levels.
The document is the 2011 budget speech delivered by the Governor of Ekiti State, Nigeria, Dr. John Olukayode Fayemi, to the State House of Assembly. It summarizes the performance of the 2010 budget, outlines the strategic priorities of the 8-point agenda for 2011 which include improving infrastructure, education, health, industry and gender equality. It notes revenue challenges in 2010 including low internally generated revenue and high debt levels inherited from the previous government. The governor calls for a review of revenue allocation from the federal government to enable priority projects that will reduce poverty in the state.
This document from Hay Group Actuarial compares the financial impact of 6 retirement scenarios for a company's retiree benefits program. Scenario A reflects the current program. Scenarios B-F present alternatives with variations to eligibility ages and benefit types. The analysis calculates the present value and actuarial accrued liability for each scenario based on employee data and assumptions provided to the actuaries. The key variations between scenarios include changes to retirement eligibility ages, the availability of health benefits only or health and incentive pay benefits, and the duration of incentive pay benefits after retirement.
This document summarizes an actuarial report from Hay Group that analyzes the financial impact of 6 different retirement plan scenarios for Monroe County Community College. Scenario A represents the current retirement program, while Scenarios B-F present alternatives that were discussed or suggested. The report calculates the present value and actuarial accrued liability for each scenario based on medical, dental, vision and claims data provided to the actuaries. It provides details on how the incentives were calculated for each relevant scenario.
Forest Preserve District of Cook County 5-year Capital Improvement Plancookcountyblog
ย
The document is the Forest Preserve District of Cook County's 2012-2016 Capital Improvement Plan. It outlines $42 million in capital projects for 2012, with a total of $100 million planned for 2012-2016. The largest areas of investment are habitat restoration at $5.7 million and new trail systems at $8.9 million. Several projects have been deferred from 2011 to allow for comprehensive planning studies in 2012 to better inform future decisions. An increase in general consulting services funding to $2.7 million is requested to support this planning. The plan was developed through input from various stakeholders and evaluates projects based on guidance principles like public access, environmental sustainability, and partnerships.
Coventry Health Care achieved another year of outstanding results in 2003 through organic growth and two strategic acquisitions. Key to its success is Coventry's business model of combining local focus and decision making with centralized expertise to lower administrative costs. This allows Coventry to offer a broad portfolio of products competitively and achieve top three market share in many of its regions. Relentless execution of this proven model continues to drive profitable growth.
This document provides an actuarial valuation as of June 30, 2011 for the Judges' Retirement System II of California. Key findings include:
- The plan's funded ratio increased from 81.1% to 94.5% based on the market value of assets.
- The recommended employer contribution rate for fiscal year 2012-2013 is 22.837% of projected payroll, down from 23.441% in the prior year.
- Changes to economic assumptions, including lowering the assumed inflation rate from 3.0% to 2.75%, reduced the plan's unfunded liability by $38,798.
Northampton Budget FY2012 as of 31 March 2011Adam Cohen
ย
This document summarizes the general fund budget for fiscal year 2012. Total revenues are projected to be $75,545,118, with the largest sources being taxes at $46 million and state revenue from the Cherry Sheet at $15 million. Total proposed expenditures are $77 million, with the largest allocations being $30 million for education, $15 million for employee benefits, and $11 million for public safety. The budget projects a $1.5 million deficit.
The document provides retirement funding assumptions and analysis for a client. It includes economic data, details on the husband and wife, their retirement assets and savings, projected retirement needs, and an analysis showing they will have a shortfall of over $500,000 if changes are not made to increase savings by at least $10,000 annually.
Battle Ground Public Schools Levy Presentation February 25, 2013scottmcd
ย
The document summarizes how Battle Ground School District receives funding and the impact of losing levy funding. It receives funding from the state based on enrollment and staffing levels, special grants, fees, and local levies. Without levy funding, the district would need to cut over $17 million from its budget, reducing staffing and increasing class sizes significantly. This would impact the district's ability to maintain current program and service levels.
Anita Charlesworth: The Funding Outlook for Health Care Nuffield Trust
ย
The document discusses the funding outlook for health in the UK. It shows that while health spending has increased as a percentage of GDP, spending on other public services and tax receipts have decreased. The NHS faces a tight budget period from 2010-2015 as it aims to close a ยฃ13 billion funding gap through measures like pay restraints and improved productivity. Continued austerity is expected through 2017-2018, and unprecedented productivity gains will be needed to close the growing gap between demand and ability to provide quality care. Overall workforce cost growth after 2015 will be a key factor.
1) The document discusses rate-of-return analysis and concepts including internal rate of return (IRR), breakeven interest rate (i*), simple vs. non-simple investments, and cash flow sign rules.
2) It provides examples of calculating i* for various projects using cash flows, present worth analysis, and plotting the net present worth.
3) Mixed investments are discussed along with calculating the rate of return considering both positive and negative cash flows.
The Carlsbad Unified School District Board took action to reduce expenditures by $2.26 million by the end of 2012-2013 to lower their projected deficit to $8.3 million. Expenditure reductions included delaying the opening of a new school, reducing administrative positions, stipends, travel budgets, and discretionary site and department accounts. The Board also eliminated and reduced several programs and classified positions. Given these reductions, the remaining deficit would need to be addressed through reductions to total employee compensation of potentially 14.6%. A state budget shortfall and potential mid-year funding reductions from the state could further increase the district's projected deficit. The district is also pursuing revenue enhancement strategies like renegotiating joint-use
Managerial Accounting Final Budget Analysis P1boscollkid
ย
Post Office Square (POS) serves a younger patient population compared to other HVMA sites, with most patients in their 30s-50s and only 3-4% over age 60. Key services include busy behavioral health, allergy, and primary care practices. The POS management team has concerns about money-losing departments like internal medicine, OB/GYN, and behavioral health. They would like to add orthopedics, sports medicine, and physical therapy services but cannot currently afford the necessary build out costs. No changes are anticipated in the near future due to financial constraints.
- UHS acquired its 100th facility in 2002, a hospital in Lansdale, PA called Central Montgomery Medical Center.
- Construction began on 4 new hospitals - in Las Vegas, Amarillo, Wellington FL, and Lakewood Ranch FL.
- The new George Washington University Hospital opened in Washington D.C. in 2002 after a partnership between UHS and GWU. There was initial skepticism that UHS would prioritize profits over quality that was overcome.
The document discusses the city's major budget issues for FY2011. It is projecting an estimated budget shortfall of $1,185,629 for the fiscal year. Revenue is expected to increase by $895,877 or 2.5% due to tax levy and new growth, but will be offset by reductions in state aid, landfill fees, and loss of one-time stimulus funding. Expenses are projected to rise by over $1 million primarily due to expected increases in health insurance, retirement costs, and other fringe benefits. The shortfall does not include potential increases for special education or other school costs.
Summary of Northampton Budget FY2012 as of 31 March 2011Adam Cohen
ย
The document summarizes the general fund budget for fiscal year 2012. Total revenues are projected at $75.5 million, with the largest sources being taxes at $46.3 million and charges for services at $7 million. Total proposed expenditures are $77.1 million, with the largest allocations being education at $29.9 million, public safety at $11.7 million, and employee benefits at $14.9 million. The budget projects a deficit of $1.5 million.
The Finance Minister presented the 2013-14 Union Budget which included the following key points:
1) No changes to income tax slabs but a 10% surcharge on income over 1 crore and tax rebates for some earners.
2) Measures to simplify rules for foreign investors and allow more foreign investment in stock exchanges and debt markets.
3) Increased allocations to key sectors like defense, health, education, and agriculture while imposing some new taxes and duties.
4) The budget aims to boost growth but economic indicators still forecast slow growth amid a weak macroeconomic situation.
The document provides an overview of the city's expenditures, revenues, and collection efforts for various departments in the first four months of 2012 compared to the same period in 2011 and budget targets. Healthcare expenditures exceeded budget projections due to increased high-cost claims and utilization. Workers compensation claims also exceeded contributions, resulting in a deficit. Parking enforcement revenues exceeded prior year collections, though tickets issued were slightly below targets. Photo safety revenues and citations were lower than the prior year. EMS collections significantly trailed prior year levels.
Analysis of the budget repair bill now stuck in the Wisconsin State Senate. The Legislative Fiscal Bureau is the non-partisan office in the Wisconsin legislature that publishes unbiased assessments of every bill so that it can be understood by the general public. This is a must read document.
GPPSS 2013 Fund Equity Alternate RealityBrendan Walsh
ย
Analysis of the Grosse Pointe Public School System in response to concerns about whether the district could have avoided a significant reduction in its fund equity levels.
The document is the 2011 budget speech delivered by the Governor of Ekiti State, Nigeria, Dr. John Olukayode Fayemi, to the State House of Assembly. It summarizes the performance of the 2010 budget, outlines the strategic priorities of the 8-point agenda for 2011 which include improving infrastructure, education, health, industry and gender equality. It notes revenue challenges in 2010 including low internally generated revenue and high debt levels inherited from the previous government. The governor calls for a review of revenue allocation from the federal government to enable priority projects that will reduce poverty in the state.
The document provides information from a 2012-2013 community budget forum for the Berne-Knox-Westerlo Central School District. It outlines the district's budget development process, assumptions for the upcoming years including increases to health insurance and state aid, proposed staffing changes that reduce costs, the technology plan, historical state aid amounts, efforts to reduce costs through bids and mergers, and upcoming budget dates.
This document summarizes the 2013-2014 budget for the Williamson school district. It outlines gaps in state funding that remain from previous years and budget cuts that have been made. The proposed 2013-2014 budget of $21,051,455 represents a 2.66% increase over the previous year. This budget will be voted on in a proposition along with propositions to purchase new buses using reserves and establish a new bus reserve fund.
This document provides the marking scheme for Accountancy (055) Class XII Term II exam. It includes 9 questions on topics like accounting for not-for-profit organizations, partnership firms, companies, analysis of financial statements, and cash flow statements. Question 1 provides journal entries for medicines consumed by a not-for-profit organization. Question 4 calculates subscription received during the year for a not-for-profit organization. Question 12 shows the cash flow statement for a company for the year ended March 31, 2021.
The document summarizes the financial challenges facing Asheville due to increasing expenditures outpacing revenue growth. Proposed state legislation would further widen Asheville's budget gap by an estimated $11.7 million over two years requiring significant service cuts or tax increases. Staff recommends delaying the budget schedule to gain more clarity on the financial impact and seek additional council direction on balancing strategies.
Cook County spends $304.4 million annually on healthcare benefits for employees and retirees. Moving to a healthcare exchange could reduce these costs by $21-82 million annually. Transferring retiree healthcare obligations from the pension fund to the county, along with reducing COLAs for current employees and retirees to 3% or half of CPI and increasing employee contributions by 1%, could improve the pension fund's funded status to 88.1% by 2050.
The document discusses various aspects of tax planning in India including:
- Tax slabs and rates for different types of taxpayers.
- Common tax deductions available under Sections 80C, 80D, 80E, and 80CCC of the Income Tax Act up to a total limit of Rs. 1 lakh.
- Tax treatment of various financial instruments like insurance, PPF, ELSS, housing loans, etc.
- Examples are provided to illustrate how tax liability can be reduced through proper tax planning and use of deductions.
The document summarizes the budget situation for a public school district for the 2011-2012 school year. It notes that while the graduation rate has remained high, the Governor cut state aid significantly more than anticipated, resulting in a $1.48 million loss of funding. To address a projected $2.2 million shortfall, the district plans to use federal stimulus funds, reserves, and $993,615 in cuts and concessions. This would result in a proposed 2.21% decrease in the budget but a 3.2% increase in the tax levy and a 1.53% increase in the tax rate.
This document contains budget and funding information for Ball State University, Indiana State University, and University of Southern Indiana from 1998-2013. It shows comparisons of operating budget allocations, resident full-time enrollment, and funding per resident FTE for each university over time. It also provides details on revenue sources for 2012-2013, including a tuition increase, and looks ahead to Indiana's continued "performance funding" model and percentage increases to institution operating budgets for 2013-2015.
The document summarizes Minnesota's November 2010 forecast for fiscal years 2010-11 and 2012-13. It projects a $399 million surplus for FY 2010-11 due to expenditure savings, but a $6.2 billion shortfall for FY 2012-13 driven by a large gap between projected revenues and expenditures. Revenues are forecast to grow by 5% for FY 2012-13 while expenditures are projected to increase by 27.5% primarily due to one-time savings measures in FY 2010-11 that will not continue. The economic recovery is expected to be slower than anticipated with GDP growth of around 2.5-2.7% projected for the next few years.
This document provides an overview of various deductions that can be claimed under sections 80C to 80U of the Indian Income Tax Act of 1961. It explains key deductions such as those for approved savings and investments of up to Rs. 1.5 lakhs under section 80C, contributions to pension schemes under 80CCD, medical and education expenses under 80D, 80DD, 80E, and donations to certain funds under 80G. It also outlines eligibility criteria and limits for claiming these common tax deductions in India.
The document congratulates the recipient for reducing debt to below 60% of GDP in 2018 and keeping it at a sustainable level through 2030. It then provides a list of policy choices that could cut dollars in billions to further reduce debt.
This document provides information about a proposed $5,970,000 general obligation refunding bond issue for the City of San Angelo, Texas. It outlines the preliminary refunding summary, including projected annual debt service savings of over $431,000. It also presents a timeline of key events for the bond issue, including City Council consideration and authorization, application to rating agencies, and distribution of documents to underwriters.
The document summarizes the Half Hollow Hills Central School District's 2009-2010 preliminary budget proposal. It outlines proposed budget increases of 3.14% for a total budget of $202,345,358. It also discusses uncertainties around potential state aid amounts and new unfunded mandates that could impact the budget. Budget reductions and cost saving initiatives proposed total around $3 million.
2012 2013 Budget Presentation March 27 2012Bonnie Dilling
ย
The document discusses the Northern Bedford County School District's proposed 2012/13 general fund budget, including revenues, expenditures, capital projects, food service plans, technology initiatives, and other budget details. It also outlines long-term financial issues like rising pension costs and decreasing fund balances if expenditures continue to exceed revenues. The proposed budget faces a $890,668 deficit that would decrease available funds, though no tax increase is currently planned.
The document summarizes Lockton Companies' presentation to Metropolitan Community College's Insurance Committee regarding MCC's health insurance renewal for 2015. It includes: (1) a summary of 2013-2014 plan performance and large claims; (2) details of MCC's current 2014 plan design and cost sharing; (3) BlueKC's proposed 2015 renewal rates, which include a 15% increase to fixed fees and a negotiated 10% increase to maximum claim liability factors; and (4) an analysis of the impact of proposed increases to prescription drug out-of-pocket maximums. The presentation provides information to help MCC evaluate its health insurance options and costs for 2015.
This document lists the awards received by Midland County College in various categories for graphic design projects, including a gold award for a cross country team photograph, gold for a basketball program poster, silver for a student enrollment brochure series, and bronze awards for a fitness center banner, course schedule, and business-to-business direct mail campaign.
The document lists the winners of the NCMPR District Five Medallion Awards for 2011. Several campaigns, brochures, and collateral materials received bronze, silver, or gold awards in categories such as student campaign, banner or outdoor, direct mail, photography and visual art, sports brochure, and community/government relations collateral. The LV Cross Country program received a gold award.
This document provides a template for recording credit hour data by academic term. It includes a table with columns for term (summer, fall, spring) and year (2009-2011) to record the number of credit hours delivered for different program components. The final column calculates the percentage of student credit hours for each program component.
The document outlines MCC's zero-based budgeting process which involves multiple steps: collecting data using templates, program experts reviewing and rating programs, prioritizing all programs to determine recommendations, and finalizing program prioritization and recommendations. Data is collected centrally and additional information may be requested from teams during the process. The process aims to base the budget on program prioritization rather than historical funding levels.
The document outlines the Zero-Based Budgeting (ZBB) timeline from its introduction in August 2011 to the finalization of the FY2013 budget in January 2013. Key events include introducing ZBB to officers and committees in August-September 2011, testing the ZBB process in November 2012, reviewing programs and finalizing the budget from November 2012 to January 2013, and approving the FY2013 budget in January 2013.
This document provides a listing of programs and their associated funding sources for MCC's FY12 budget. It analyzes funds 110, 120, 180, 190, and 410. The listing includes administrative and academic programs across MCC's different campuses and locations, with two-digit codes indicating the program type and department. Funding sources are identified for each program.
This document is a cost effectiveness template for a program that tracks revenues and costs over three fiscal years (FY2009 to FY2011). It collects information on revenue sources like tuition, fees, gifts, and grants, as well as expenses categories including salaries, benefits, supplies, equipment, and other program costs. The template also requests details on grants and anticipated future equipment needs and their estimated costs.
This document provides a template for tracking credit hours delivered by academic programs each term from 2009 to 2011. The template includes columns to record the number of credit hours delivered in the summer, fall, and spring terms for each year. The last column will calculate the percentage of student credit hours delivered for different program components.
This document announces a cultural competency panel discussion for health care professionals to be held on July 19, 2011 from 5:30PM to 7:00PM at the MCC-Penn Valley Health Science Institute located at 3444 Broadway in Kansas City, Missouri. The panel will feature experts discussing efforts by local organizations to develop culturally competent healthcare systems in the Greater Kansas City area, followed by a question and answer session and brief tour of the institute.
The document summarizes plans for an MCC Information Center that will serve as a central point of contact for students by answering questions from various departments over the phone in order to provide quick answers and direct students to necessary resources. The Information Center will be located on the Penn Valley campus and staffed by 12 employees including a manager overseeing 5 full-time and 6 part-time student services specialists. It is projected to open in February 2012 and will operate Monday through Friday from 8am to 6pm, handling an estimated 500,000 calls annually.
This document provides an overview and analysis of Metropolitan Community College's (MCC) early retirement program and budget. It finds that MCC is currently spending over $5 million annually on its early retirement program, with a growing $3.5 million liability. The Chancellor recommends changes to the early retirement program to reduce costs and liabilities going forward, including limiting premium pay and healthcare benefits for current and future retirees. The changes are estimated to reduce MCC's liability by $1-2 million initially and lower annual expenses to around $500,000. The document also reviews MCC's debt, reserves, and other budget considerations like the allocation model and compensation packages.
The document summarizes the current early retirement plan and costs for MCC, including:
- Special incentive payments that are a percentage of salary based on age and years of service, averaging $700,000 annually.
- Insurance benefits for retirees that cost $2.6 million annually.
- Premium pay for 69 early retirees who are reemployed, costing $1.6 million annually.
The total annual cost of the current early retirement plan is $4.9 million. The document also outlines an option to implement a "Rule of 80" retirement eligibility with incentive payments only and discontinue insurance benefits after July 1, 2013 to reduce costs.
The document summarizes the financial analysis of MCC's athletic programs for fiscal year 2010, breaking down revenue and expenses by category, program, and campus location. It shows the total revenue and expenses for MCC athletics, how expenses were categorized, and the revenue and expenses for each athletic program at the Longview, Maple Woods, Penn Valley, and Blue River campuses. Scholarship funds listed represented tuition waivers for some student athletes rather than direct distribution in the budget.
This document summarizes MCC's financial ratios from fiscal years 2006 to 2010 according to standards set by the Higher Learning Commission. It shows that MCC had a primary reserve ratio above 0.40, indicating it could cover 5 months of expenses from reserves. The net operating revenue and return on net assets ratios were mostly within or above the ideal ranges, demonstrating operating surpluses and increased wealth. The viability ratio was close to the ideal of 1.00. MCC's composite financial indicator score was above 3.0 each year, meaning strengths in some ratios offset weaknesses in others.
The document discusses projected state aid cuts, MCC's projected budget deficits, early retirement costs, projected retirement liability, fringe benefit increases, and how employee compensation packages have increased from 74.5% of the operating budget in 2002 to 78.6% in 2010.
The handout summarizes the university's debt schedule and funding sources, showing that the unexpended plant fund balance would be depleted by 2019 if only used to pay off planned debt. It also discusses the financial outlook for 2012 and beyond, which has worsened with potential additional state funding cuts. Projections assume a 5% state aid cut in 2012 and $2 tuition increases annually. For forecasting, a 17% state aid cut is being used as the most likely scenario. The current financial plan has some known issues with its assumptions about state aid increases after 2012, investment income increasing while reserves decrease, and understating potential insurance rate increases.
LAND USE LAND COVER AND NDVI OF MIRZAPUR DISTRICT, UPRAHUL
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This Dissertation explores the particular circumstances of Mirzapur, a region located in the
core of India. Mirzapur, with its varied terrains and abundant biodiversity, offers an optimal
environment for investigating the changes in vegetation cover dynamics. Our study utilizes
advanced technologies such as GIS (Geographic Information Systems) and Remote sensing to
analyze the transformations that have taken place over the course of a decade.
The complex relationship between human activities and the environment has been the focus
of extensive research and worry. As the global community grapples with swift urbanization,
population expansion, and economic progress, the effects on natural ecosystems are becoming
more evident. A crucial element of this impact is the alteration of vegetation cover, which plays a
significant role in maintaining the ecological equilibrium of our planet.Land serves as the foundation for all human activities and provides the necessary materials for
these activities. As the most crucial natural resource, its utilization by humans results in different
'Land uses,' which are determined by both human activities and the physical characteristics of the
land.
The utilization of land is impacted by human needs and environmental factors. In countries
like India, rapid population growth and the emphasis on extensive resource exploitation can lead
to significant land degradation, adversely affecting the region's land cover.
Therefore, human intervention has significantly influenced land use patterns over many
centuries, evolving its structure over time and space. In the present era, these changes have
accelerated due to factors such as agriculture and urbanization. Information regarding land use and
cover is essential for various planning and management tasks related to the Earth's surface,
providing crucial environmental data for scientific, resource management, policy purposes, and
diverse human activities.
Accurate understanding of land use and cover is imperative for the development planning
of any area. Consequently, a wide range of professionals, including earth system scientists, land
and water managers, and urban planners, are interested in obtaining data on land use and cover
changes, conversion trends, and other related patterns. The spatial dimensions of land use and
cover support policymakers and scientists in making well-informed decisions, as alterations in
these patterns indicate shifts in economic and social conditions. Monitoring such changes with the
help of Advanced technologies like Remote Sensing and Geographic Information Systems is
crucial for coordinated efforts across different administrative levels. Advanced technologies like
Remote Sensing and Geographic Information Systems
9
Changes in vegetation cover refer to variations in the distribution, composition, and overall
structure of plant communities across different temporal and spatial scales. These changes can
occur natural.
Philippine Edukasyong Pantahanan at Pangkabuhayan (EPP) CurriculumMJDuyan
ย
(๐๐๐ ๐๐๐) (๐๐๐ฌ๐ฌ๐จ๐ง ๐)-๐๐ซ๐๐ฅ๐ข๐ฆ๐ฌ
๐๐ข๐ฌ๐๐ฎ๐ฌ๐ฌ ๐ญ๐ก๐ ๐๐๐ ๐๐ฎ๐ซ๐ซ๐ข๐๐ฎ๐ฅ๐ฎ๐ฆ ๐ข๐ง ๐ญ๐ก๐ ๐๐ก๐ข๐ฅ๐ข๐ฉ๐ฉ๐ข๐ง๐๐ฌ:
- Understand the goals and objectives of the Edukasyong Pantahanan at Pangkabuhayan (EPP) curriculum, recognizing its importance in fostering practical life skills and values among students. Students will also be able to identify the key components and subjects covered, such as agriculture, home economics, industrial arts, and information and communication technology.
๐๐ฑ๐ฉ๐ฅ๐๐ข๐ง ๐ญ๐ก๐ ๐๐๐ญ๐ฎ๐ซ๐ ๐๐ง๐ ๐๐๐จ๐ฉ๐ ๐จ๐ ๐๐ง ๐๐ง๐ญ๐ซ๐๐ฉ๐ซ๐๐ง๐๐ฎ๐ซ:
-Define entrepreneurship, distinguishing it from general business activities by emphasizing its focus on innovation, risk-taking, and value creation. Students will describe the characteristics and traits of successful entrepreneurs, including their roles and responsibilities, and discuss the broader economic and social impacts of entrepreneurial activities on both local and global scales.
Temple of Asclepius in Thrace. Excavation resultsKrassimira Luka
ย
The temple and the sanctuary around were dedicated to Asklepios Zmidrenus. This name has been known since 1875 when an inscription dedicated to him was discovered in Rome. The inscription is dated in 227 AD and was left by soldiers originating from the city of Philippopolis (modern Plovdiv).
How to Setup Warehouse & Location in Odoo 17 InventoryCeline George
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In this slide, we'll explore how to set up warehouses and locations in Odoo 17 Inventory. This will help us manage our stock effectively, track inventory levels, and streamline warehouse operations.
it describes the bony anatomy including the femoral head , acetabulum, labrum . also discusses the capsule , ligaments . muscle that act on the hip joint and the range of motion are outlined. factors affecting hip joint stability and weight transmission through the joint are summarized.
Communicating effectively and consistently with students can help them feel at ease during their learning experience and provide the instructor with a communication trail to track the course's progress. This workshop will take you through constructing an engaging course container to facilitate effective communication.
Beyond Degrees - Empowering the Workforce in the Context of Skills-First.pptxEduSkills OECD
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Ivรกn Bornacelly, Policy Analyst at the OECD Centre for Skills, OECD, presents at the webinar 'Tackling job market gaps with a skills-first approach' on 12 June 2024
1. MCC
BRT - December 17, 2010
Recap of 2010-2011 Budget Book
Fiscal Year End June 30,
2011 2012 2013 2014 2015 2016
Salary package increase included in budget 3.6% or $2.5Mil 3.6% or $2.6Mil 3.6% or $2.7Mil 3.6% or $2.8Mil 3.6% or $2.9Mil 3.6% or $3.0Mil
2011 Budget Book (Beginning Balance) $ (1,140,593) $ (5,400,000)
Actions taken and reflected:
Class size carried into 2011-2012 (Add'l 1 student) 775,000 $775K $775K $775K $775K
Enrollment growth (6% above '11 and 3% above '12) 2,100,000 2.00% 0.00% -3.00% -3.00%
Additional $6.00 fee increase (total $8.00) 3,000,000 $ 2.00 $ 2.00 $ 2.00 $ 2.00
Additional 12% state aid cut (total 17%) (3,850,000) -3.00% 2.00% 0.00% 2.00%
Investment income (300,000) $75K $75K $75K $75K
IWI contribution included $856K $1,054K $1,256K $1,457K $1,665K
OPEB adjustment (18% Health Insurance Adj) (700,000)
Additional '10-'11 compensation adjustment (535,000)
College size adjustment (enrollment change) (800,000)
Increase to ADA funding to actual historical levels (163,143)
'11 - '12 Financial Plan Budget Book (Page 25) $ (1,288,539) $ (5,873,143) $ (10,637,385) $ (13,685,635) $ (16,295,625) $ (18,738,233)
H:AnalysisBRTBRT Financial plan budget deficit closing the gap 2010December17updated2011Apr7.xlsxBudget Book Recap
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2. MCC
BRT - December 17, 2010
Current Early Retirement Plan and Costs
Requirements of Early Retirement
I. Ten (10) consecutive full years of service to MCC & fifty-five (55) years of age or
II. Thirty (30) years of full time service to MCC or
III. Ten (10) consecutive full years of service to MCC & thirty (30) years of retirement credit in PSRS or PEERS
Annual Costs of Current Early Retirement Plan
I. Special payment (aka Incentive pay) $ 700,000
II. Insurance benefits $ 2,600,000
III. Premium pay (Faculty, Staff & Admin) $ 1,600,000
$ 4,900,000
Components of Early Retirement
I. Special Payment $ 700,000
A. Formula based on age and current wage at retirement
1. 75% of final contract or annual salary if taken at age 55; reduced by 5% for every year over age 55;
increased 1% for each year over 15 years of service to the district up to a maximum of 10%
for early retirees 62 years of age or less at time of early retirement
B. Payout option of lump sum or two installments
C. Average 22 Retirees per year
II. Insurance Benefits $ 2,600,000
A. 100% Employee (Individual) and 50% of dependent premium thru age 65 for
health, vision, dental and group term life
B. OPEB includes the future insurance cost of the current work force - the primary component of the OPEB cost
C. 141 early retirees receiving some health benefit
III. Premium Pay for Reemployment $ 1,600,000
A. Up to 13.86 work units or 550 hours per fiscal year.
B. Bumping rights - Assigned following the placement of FT faculty with full load and
and before part time or overload assignments.
C. 69 early retirees benefiting
H:AnalysisBRTBRT Financial plan budget deficit closing the gap 2010December17updated2011Apr7.xlsxCurrent Plan and Costs 2 of 5
3. A B C D E F G H I J K L M N O P Q R S T U V W X Y Z AA AB AC AD AE AF AG AH AI AJ AK AL AM AN
1 MCC
2 BRT - December 17, 2010
3 Option #1: Retirement Election - Incentive Pay - Current plan versus implementing rule of 80 with Incentive Payment only (Insurance discontinued)
4 Fiscal Year End June 30, Fiscal Year End June 30,
5 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028
6 Current Costs
7
8 Special/Incentive Payment 725,200 751,307 778,354 806,375 835,405 865,479 878,461 891,638 905,013 918,588 932,367 946,352 960,548 974,956 989,580 1,004,424 1,019,490 1,034,783
9 Insurance 2,818,375 2,954,890 3,097,227 3,241,485 3,398,876 3,667,034 3,836,034 4,013,643 4,200,333 4,396,600 4,602,970 4,819,999 5,048,276 5,288,422 5,541,095 5,806,988 6,086,838 6,381,422
12 Premium Pay 1,600,000 1,657,600 1,717,274 1,779,095 1,843,143 1,909,496 1,938,138 1,967,211 1,996,719 2,026,669 2,057,070 2,087,926 2,119,244 2,151,033 2,183,299 2,216,048 2,249,289 2,283,028
13 5,143,575 5,363,797 5,592,855 5,826,955 6,077,423 6,442,009 6,652,634 6,872,492 7,102,064 7,341,857 7,592,406 7,854,277 8,128,068 8,414,411 8,713,973 9,027,460 9,355,617 9,699,233
14
15
16 Rule of 80 Plan - Age plus years of MCC service - implemented July 1, 2013
17
18 Special/Incentive Payment (50% of base with $50,000 max) 725,200 751,307 4,778,986 546,364 562,754 579,637 593,555 602,458 611,495 620,668 629,978 639,427 649,019 658,754 668,635 678,665 688,845 699,177
19 Insurance (retirees before July 1, 2013) 2,818,375 1,748,890 1,874,477 2,177,188 2,034,248 1,895,944 1,667,546 1,423,172 1,161,744 1,073,535 977,389 669,443 339,736 - - - - -
25 Premium Pay 1,600,000 348,096 - - - - - - - - - - - - - - - -
26 3,879,575 2,500,197 6,653,463 2,723,552 2,597,002 2,475,581 2,261,101 2,025,630 1,773,239 1,694,203 1,607,367 1,308,870 988,755 658,754 668,635 678,665 688,845 699,177
27
28
29 Savings
30
31 Special/Incentive Payment - - (4,000,632) 260,011 272,650 285,842 284,906 289,180 293,518 297,920 302,389 306,925 311,529 316,202 320,945 325,759 330,645 335,605
32 Insurance - 1,206,000 1,222,750 1,064,297 1,364,628 1,771,090 2,168,488 2,590,472 3,038,589 3,323,064 3,625,581 4,150,557 4,708,540 5,288,422 5,541,095 5,806,988 6,086,838 6,381,422
33 Premium Pay - 1,309,504 1,717,274 1,779,095 1,843,143 1,909,496 1,938,138 1,967,211 1,996,719 2,026,669 2,057,070 2,087,926 2,119,244 2,151,033 2,183,299 2,216,048 2,249,289 2,283,028
34 - 2,515,504 (1,060,608) 3,103,404 3,480,421 3,966,428 4,391,533 4,846,862 5,328,825 5,647,654 5,985,040 6,545,408 7,139,314 7,755,657 8,045,338 8,348,795 8,666,772 9,000,055
35
36
37 Eligibility Requirements of Early Retiree's Components of Retirement Plan - Effective July 1, 2013 (unless noted differently)
38 1. Twenty (20) years of service to MCC 1. Special/Incentive payment - 50% of final contract or salary and capped at $50,000
39 2. Rule of 80 - age plus years of service to MCC 2. Insurance benefit - discontinued
40 3. Elect benefit in first year of eligibility or lose it 3. Premium pay - Board elimination of ERT units. July 1, 2011 has 200 units or 7,936.5 hours. July 1, 2012 and after 0 units or 0 hours
41 4. No bumping rights
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4. A B C D E F G H I J K L M N O P Q R S T U V W X Y Z AA AB AC AD AE AF AG AH AI AJ AK AL AM AN
1 MCC
2 BRT - December 17, 2010
3 Option #2: Retirement Election - Health Insurance - Current plan versus implementing rule of 80 with Insurance benefit only (Incentive Pay Discontinued)
4 Fiscal Year End June 30, Fiscal Year End June 30,
5 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028
6 Current Costs
7
8 Special/Incentive Payment 725,200 751,307 778,354 808,618 832,876 857,863 870,731 883,792 897,049 910,505 924,162 938,025 952,095 966,376 980,872 995,585 1,010,519 1,025,677
9 Insurance 2,818,375 2,954,890 3,097,227 3,241,485 3,398,876 3,667,034 3,836,034 4,013,643 4,200,333 4,396,600 4,602,970 4,819,999 5,048,276 5,288,422 5,541,095 5,806,988 6,086,838 6,381,422
12 Premium Pay 1,600,000 1,657,600 1,717,274 1,779,095 1,843,143 1,909,496 1,938,138 1,967,211 1,996,719 2,026,669 2,057,070 2,087,926 2,119,244 2,151,033 2,183,299 2,216,048 2,249,289 2,283,028
13 5,143,575 5,363,797 5,592,855 5,829,198 6,074,895 6,434,393 6,644,903 6,864,646 7,094,100 7,333,774 7,584,201 7,845,950 8,119,616 8,405,832 8,705,265 9,018,621 9,346,646 9,690,127
14
15
16 Rule of 80 Plan - Age plus years of MCC service - implemented July 1, 2013
17
18 Special/Incentive Payment (discontinued effective July 1, 2013) 725,200 751,307 4,778,986 - - - - - - - - - - - - - - -
19 Insurance 2,818,375 2,594,890 2,732,227 3,322,285 3,430,476 3,630,174 3,729,378 3,835,776 3,949,754 4,071,718 4,202,099 4,341,353 4,489,959 4,661,626 4,876,690 5,102,719 5,340,313 5,590,106
24 Premium Pay 1,600,000 348,096 - - - - - - - - - - - - - - - -
25 3,543,575 3,694,293 7,511,213 3,322,285 3,430,476 3,630,174 3,729,378 3,835,776 3,949,754 4,071,718 4,202,099 4,341,353 4,489,959 4,661,626 4,876,690 5,102,719 5,340,313 5,590,106
26
27
28 Savings
29
30 Special/Incentive Payment - - (4,000,632) 808,618 832,876 857,863 870,731 883,792 897,049 910,505 924,162 938,025 952,095 966,376 980,872 995,585 1,010,519 1,025,677
31 Insurance - 360,000 365,000 (80,800) (31,600) 36,860 106,656 177,867 250,579 324,882 400,871 478,647 558,318 626,797 664,404 704,269 746,525 791,316
32 Premium Pay - 1,309,504 1,717,274 1,779,095 1,843,143 1,909,496 1,938,138 1,967,211 1,996,719 2,026,669 2,057,070 2,087,926 2,119,244 2,151,033 2,183,299 2,216,048 2,249,289 2,283,028
33 - 1,669,504 (1,918,358) 2,506,913 2,644,419 2,804,219 2,915,525 3,028,869 3,144,346 3,262,056 3,382,102 3,504,597 3,629,657 3,744,206 3,828,575 3,915,902 4,006,333 4,100,021
34
35
36 Eligibility Requirements of Early Retiree's Components of Retirement Plan - Effective July 1, 2013 (unless noted differently)
37 1. Twenty (20) years of service to MCC 1. Special/Incentive payment - discontinued
38 2. Rule of 80 - age plus years of service to MCC 2. Insurance benefit - Employee (individual) premium only. No dependent subsidy.
39 3. Elect benefit in first year of eligibility or lose it 3. Premium pay - Board elimination of ERT units. July 1, 2011 has 200 units or 7,936.5 hours. July 1, 2012 and after 0 units or 0 hours.
40 4. No bumping rights
H:AnalysisBRTBRT Financial plan budget deficit closing the gap 2010December17updated2011Apr7.xlsxOption2
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5. A B C D E F G H I J K L M N O P Q R S T U V W X Y Z AA AB AC AD AE AF AG AH AI AJ AK AL AM AN
1 MCC
2 BRT - December 17, 2010
3 Option #3: Discontinue all MCC Early Retirement Programs
4 Fiscal Year End June 30, Fiscal Year End June 30,
5 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028
6 Current Costs
7
8 Special/Incentive Payment 725,200 751,307 778,354 808,618 832,876 857,863 870,731 883,792 897,049 910,505 924,162 938,025 952,095 966,376 980,872 995,585 1,010,519 1,025,677
9 Insurance 2,818,375 2,954,890 3,097,227 3,241,485 3,398,876 3,667,034 3,836,034 4,013,643 4,200,333 4,396,600 4,602,970 4,819,999 5,048,276 5,288,422 5,541,095 5,806,988 6,086,838 6,381,422
12 Premium Pay 1,600,000 1,657,600 1,717,274 1,779,095 1,843,143 1,909,496 1,938,138 1,967,211 1,996,719 2,026,669 2,057,070 2,087,926 2,119,244 2,151,033 2,183,299 2,216,048 2,249,289 2,283,028
13 5,143,575 5,363,797 5,592,855 5,829,198 6,074,895 6,434,393 6,644,903 6,864,646 7,094,100 7,333,774 7,584,201 7,845,950 8,119,616 8,405,832 8,705,265 9,018,621 9,346,646 9,690,127
14
15
16 Rule of 80 Plan - Age plus years of MCC service - implemented July 1, 2013
17
18 Special/Incentive Payment (50% of base with $50,000 max) 725,200 751,307 4,778,986 - - - - - - - - - - - - - - -
19 Insurance (retirees before July 1, 2013) 2,818,375 1,748,890 1,874,477 2,177,188 2,034,248 1,895,944 1,667,546 1,603,603 1,347,588 1,169,245 977,389 669,443 339,736 - - - - -
25 Premium Pay 1,600,000 348,096 - - - - - - - - - - - - - - - -
26 3,543,575 2,848,293 6,653,463 2,177,188 2,034,248 1,895,944 1,667,546 1,603,603 1,347,588 1,169,245 977,389 669,443 339,736 - - - - -
27
28
29 Savings
30
31 Special/Incentive Payment - - (4,000,632) 808,618 832,876 857,863 870,731 883,792 897,049 910,505 924,162 938,025 952,095 966,376 980,872 995,585 1,010,519 1,025,677
32 Insurance - 1,206,000 1,222,750 1,064,297 1,364,628 1,771,090 2,168,488 2,410,041 2,852,745 3,227,355 3,625,581 4,150,557 4,708,540 5,288,422 5,541,095 5,806,988 6,086,838 6,381,422
33 Premium Pay - 1,309,504 1,717,274 1,779,095 1,843,143 1,909,496 1,938,138 1,967,211 1,996,719 2,026,669 2,057,070 2,087,926 2,119,244 2,151,033 2,183,299 2,216,048 2,249,289 2,283,028
34 - 2,515,504 (1,060,608) 3,652,010 4,040,647 4,538,449 4,977,357 5,261,043 5,746,512 6,164,529 6,606,812 7,176,507 7,779,880 8,405,832 8,705,265 9,018,621 9,346,646 9,690,127
35
36
37 Eligibility Requirements of Early Retiree's Components of Retirement Plan - Effective July 1, 2013 (unless noted differently)
38 1. Twenty (20) years of service to MCC 1. Special/Incentive payment - discontinued
39 2. Rule of 80 - age plus years of service to MCC 2. Insurance benefit - discontinued
40 3. Elect benefit in first year of eligibility or lose it 3. Premium pay - Board elimination of ERT units. July 1, 2011 has 200 units or 7,936.5 hours. July 1, 2012 and after 0 units or 0 hours.
41 4. No bumping rights
H:AnalysisBRTBRT Financial plan budget deficit closing the gap 2010December17updated2011Apr7.xlsxOption3
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