Laserfiche WebLink
<br /> <br /> <br /> The Honorable Chairman Pete Hoffmann <br /> and Members of the County Council <br /> Page 4 <br /> February 29, 2008 <br /> <br /> Debt Service <br /> <br /> • Debt Service. Debt service is projected to increase to accommodate a new bond <br /> issue. <br /> <br /> Pension and Retirement <br /> <br /> • Employees Retirement System. The Employees Retirement System cost is expected <br /> to increase by $4.8 million due primarily to an increase in the required contribution <br /> rate. <br /> <br /> Health Fund <br /> <br /> • Health Benefits. Health costs, including post-employment benefits, are expected to <br /> increase by $2.2 million. <br /> <br /> Miscellaneous <br /> <br /> • Vacation and unemployment insurance. Increases by $906,000 (to $1.1 million) to <br /> pay for transition costs as a result of the expected changes in appointed staff. <br /> • Transfer to Capital Projects Fund. Decreases by $7.86 million (to $3.8 million). <br /> Funding for capital projects will be done primarily through the issuance of bonds. <br /> <br /> • Transfer to Disaster & Emergency Fund. Decreases by $600,000 (to $1 million). <br /> • Transfer to Budget Stabilization Fund. Appropriates $1 million (nothing budgeted <br /> in current fiscal year). <br /> <br /> • Transfer to Public Access, Open Space and Natural Resources Preservation Fund. <br /> Increases by $526,000 (to $4.84 million). <br /> • Sewer Fund Replacement Reserve Repairs. Increases by $600,000 (to $3.2 million). <br /> <br /> • Provision for Compensation Adjustment. Deletes the $6.3 million. The provision <br /> was established for the current fiscal year since compensation amounts were not <br /> known at the time the budget was prepared. The amounts for FY 2008-09 are known <br /> and have been included in salaries and wages. <br />