BIL 252 Draft 01 2006-2008 - Laserfiche WebLink

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