Current Ad min istrative Budget - Fresno County, California 5_ocr.pdf · 7 Wurts believes that each of the current managers is capable and deserving of consideration for these newly

5

Current Ad min istrative

Budget

7

Wurts believes that each of the current managers is capable and deserving of consideration for these newly defined sector mandates. After reviewing each firm's comparative strengths as well as the universe of other "best-in-class" managers, Wurts believes the following existing FCERA Fixed Income Managers are well suited to manage the following mandates:

Loomis Sayles Westem Asset Management BlackRock

High Yield Bonds Investment Grade Credit Global Sovereign

Trustee Jolly expressed concerns regarding the selection process in that should the Board choose the recommended managers, they would not be keeping with its current due diligence policy and processes.

A motion was made by Trustee Cade, seconded by Trustee Gomez, to accept the recommendation to begin negotiations with Loomis Sayles and Western Asset Management and to continue further research on potential management firms for the Global Sovereign mandate. VOTE: Yes - Basua, Cade, Case McNairy, Coburn, Dowell. No - Gomez, Jolly. (Absent - Austin, Crow)

Mr. Maclean noted that he will work with Loomis Sayles and Western Asset Management to secure the best possible agreements. In the event he is not able to work out favorable terms he will return to the Board with alternate recommendations.

RECEIVED AND FILED; APPROVED

22. Discussion and appropriate action on the Base Level funding for the 2014 -2015 FCERA Budget

Becky Van Wyk, Interim Retirement Administrator, presented the Administrative Budget for 2014-15 noting that the concept continues with the "Base Budget" concept formalized for the 2013-14 budget. Ms. Van Wyk reminded the Board that this concept is driven by the "same as previously authorized" level of operations. Adjustments against actual and budgeted amounts are displayed. Most of the changes are due to contracts, projects, Board initiatives, or changes in cost to payroll and operating expenditure categories that are not under Administration's control.

The "Base" level of projected expenditures is what is deemed consistent with the expected level of operations and effort, based on Board directives, contracts, continuing contracts, or expected inflation.

Ms. Van Wyk noted that the changes include a contingency of $100,000 to address the possible relocation/expansion of the administrative office, the addition of a "Retirement Accounting Technician" series to replace the Account Clerk series, the conversion of an extrahelp position to a permanent position and the addition of one Retirement Accounting Technician position.

A motion was made by Vice Chair Cade, seconded by Trustee Gomez, to approve the 2014 -2015 FCERA Budget as presented. VOTE: Unanimous (Absent - Austin, Crow)

RECEIVED AND FILED; APPROVED

Becky Van Wyk Interim Retirement Administrator

DATE:

TO:

FROM:

May 7,2014

Trustees Board of Retlrement

Becky Van Wyk Interim Retirement Administrator

SUBJECT: Draft Budget 2014-15

FRESNO COUNTY EMPLOYEES' RETIREMENT ASSOCIATION BOARD OF RETIREMENT Dr. Rae! Cobum, III, Chair Alan Cade, Jr., Vice Chair

Marlon Auotin Laura P. Basua

Judllh Cas. McNairy VlcklCrow

Robert Dowell Eulallo Gomoz Steven J. Jolly

Attached is the first draft of the Administrative Budget for 2014-15. It continues with the "Base Budget" concept formalized for the 2013-14 budget. As you may recall, this concept is driven by the "same as previously authorized" level of operations. Adjustments against actual and budgeted amounts are displayed. Most of the changes are due to contracts, projects, Board Initiatives, or changes in cost to payroll and operating expenditure categories that are not under our control.

The "Base" level of projected expenditures is what Is deemed consistent with the expected level of operations and effort, based on Board directives, contracts, continuing contracts, or expected inflation.

The changes include a contingency of $100,000 to address the possible relocation/expansion of the administrative office, the addition of a "Retirement Accounting TechniCian" series to replace the Account Clerk series, the conversion of an extra-help position to a permanent position and the addition of one Retirement Accounting Technician position.

Contingency

A contingency of $100,000 has been included In the Professional Services line-item as a reserve for costs associated with the potential relocation of the FCERA office. This amount may prove to be unnecessary or may prove to be insufficient depending on how the High Speed Rail project plays out.

1111 H Street, Fresno. CA 93721, Tel 559.457.0681 Fax 559.457.0318

New Classification

The Retirement Services Technician series differs from the Account Clerk series in that it focuses more on the technical and analytical aspects of the job duties to be performed, rather than duties that are more clerical in nature.

The job requirements of the Accounting and Benefits Units within FCERA are unique and continue to become more highly specialized. Today's support staff must possess the technical abilities to develop specialized skills in order to effectively assist in meeting the needs and goals of management and the constantly changing reporting requirements. These abilities cover a wide range of duties, but most commonly include an understanding of FCERA's accounting software program and pension administration system, the County's People Soft systems, the ability to analyze custodial banking reports, investment manager reports, and multiple payroll systems, and assist the Accountants with the completion of the financial statements in a timely manner. I have attached the draft job descriptions for both a Retirement Services Technician I and II. Please note that the County of Fresno will need to complete a job assessment and salary survey before the position will be included in the County's Salary Resolution.

We expect that this classification will serve as a promotJonal opportunity for clerical staff meeting the experience and education requirements and would be able to tackle the more complex technical functions freeing up the Accountants and Retirement Coordinators to do the more difficult tasks.

Conversion of Extra Help to Permanent

FCERA's staff complement has always included 1-3 extra-help poSitions to aid in special projects, clearing excess workload, and compensate for extended absences. We have determined that One of the extra-help positions is actually needed on a permanent basis as we have kept this position filled and busy with special projects and operation overflow for a number of years. The budget recommends that this position be made a permanent position.

New Position

The complexitIes of the reporting requirements for FCERA continue to expand. With the new pension administration system, general ledger, expanded and modified investment managers, and custodial bank changes, staff is constantly called on to reconcile, remap, and revamp computer systems and reports. We believe tJhat adding another technical position in this unit will relieve some of the stress currently being shouldered by the small unit. We have evaluated the needs of the unit and determined that a technical position would appropriately complement the unit. The budget recommends the addition of one Retirement Services Technician.

Thank you.

1111 H Street. Fresno. CA 93721 . Tel 559.457.0681 Fax 559.457.0318

Salaries & Employee Benefits

Projected Costs and Base Budget

Fiscal Years 2013·14 and 2014·15

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FCER" Rolirument Admk1I5I:raUcn Budget Wor1<5heat ~ Alai Y • .,. 3:\13· '4

~ry« Adoptad 10 Act:uaI f« FY 2013-14 10 Base RIMJHII&t far FY 2014·15

.W (2) _ ; --.l!I. {4 i ! Column 2 Ii i +

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i ' - I i i~lIt1ns . _ I ...... I 2/3114 ; ToW! Adu81 8udgct 20 1 3- Expandtun!a , I'YCOgh ! ProJeded

14 1 at 212114 ! !130114 ; Exp«1ditu,es

'6: Corumn' Column 7

. __ ~~~~._l._ ~~~ .~ _to 2013-14 Total

(Owtr)'Undltl, Aaua' Budge! Prajected

'71 (8) (9) '10: I jCOIu;n-n-1-I~~-7 - - - -~iu~n D

1,-_.---FV-iO~~CU-~-~- ___ ~umn.2_J_.~iI!!.'l!.

0..".. ........... , from 2013-1 Base fOI' 2014-1& va

2014-15 14 Actual ADCII'<I'Itd 2013-14 Budget

It 12 " I CoIu-nn 12

• --··- - ·-·~---·t_---Pj\l~~~l.

CIwongo ....... Noles Item, 2014-15

! \ ;\ ~unt ClerklRetlrament '6100 Salarlas. Regular , ,27'9,500 I 6&1 gg51 488,6HI 1170614 108,8&15 1561586 1,327,200 13% 41,700 4,., ~nUn!l T«hnlclan 2D 700 j 1,356,'iIOO i

, , I , 8100 AutDAllawance 8.200! 3,788 238&: 6,156 44 44 1U00 1~ • 0% p:.untydelennlned · 6,200!

······t ... --.. -----.--.. --.--.-. ·····-··I--······-·-t-·-··-' --.. - - .- .• -."' .•. -... --- ---." C--" - - - ...••• --- • • ....•• --..•• -----. r----+-----. ~--ll'~~..:!!" ~.. --'- -- '- -. '1,1!'JO+ . ..l"A"!I_~M48.J._·~.,1!lI _-,".1,.~r ... _-'!!.!'11 r ' ..J~.'W. .-~ . . ___ m,109J~.1." - 1-. ----.-- -. --- -+--l-~!QQ. 63OOiSalbl1oe - o.ertIaIa 63100 I 23,183 i 60.4(18 ! 13.591 (1041H 78,DOSl 151,600 108~ 68,500 1~ - ) 151,600

8350!Un8m£1I0VlmlTTtl~ 2.ooo! 1.;90 ! - ~ 1,990 10 (1,190 800 -GO"- --1h..200 -GO'IIo ~determMd 800

64OO~COUnty Retirement 655,100 i 3652021

225;70 I 591.172. 83,928 184.528 'nI5,700 2&% 100,600 15% aMd0l'l881atl.: 14200 I 769.900

: " " elSOOIFICAContrfbulion 106,100; 49710 45987 , 96,0677 10423 16.423 112.100 17".\ 8000 6% ~onsalarietl 2200 ' 114,300

6650r~' Comp~"'on 5 200 : ',212 i 07l 5,'00 11.. ... ','''''' 40.'" "","tv 'ote"'no' t 5,"'"

!'.~;=~:~';t~abitr --!!!'·~·1 -··- - &4·~~--"'·'~~·!--"-~I!Qq, ____ .1~1l9 ___ ._1~-!QQ, __ .!!~ , ___ ~~_ ~~ _:1% _~!~~_ ~~~ ___ )8~~m I· .... ~_··_ ---- -._- -··-·,)'!!!O+--··-~~·-·-~i, -·_-)'!~L--~ ---~ __ _ !.!Jl!1.I-_ '~'_ - .--.•.• :.- ...... ........ ... ""''''' .-- _._-+--,,~

8&70leenefibActmiftimltfonAccounl. 3,!!O1l' 3.191 1 - I 3,191 SO; ,n1 2,900 -no (800 ·17% [c.oumydWmlined _. 2,900

1- - t~otIIIs.:_end-~efits-·'"- ·- - - -.~ .~~~~- .. - r-- o~~~;- 2.261,8$- .-- .- -~~ -· · - ~~1- - 5, ~ ' -.. . ;&- 228,9~---%-- --_. ,~t-~D;Q-~~ • '!

TotIIIS.lllrlliI 1,306, 0158.080 2.261,8$ 4. 354,041 s,goo " 228,900 '" ,000 L 2,870,

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FCERA Organizational Chart· Current

BOARD OF RETIREMENT

Retirement Administrator

A""t.ntRethmentAdmmsftnhw --I I

Blndt hMCQ onn., It .,hrlology h:eountlr'l

I sendts U"'lIgIIr II Systems mel Proc.(lu ...... Anllyn I Supervising Accountant:

~~".torJ I fSvI*Y1alnlJ AC(:ount Cleftt I

I I CounselIng &eNlCH APOoul"ltint and BeMfIts ,,"gund"; ........

Retlrwm.nt ColOf\fln.tvr 1, A~otmt C_k utI/ill (tI) Ac<;ountant. I, D, Sr. (1) Account 11,1f! (7) ClaMln11

e.. ..... Help Speclli p,... tzl Account Clarli: (1)

Retirwment Cocrdlnablf 11)

AdrnInlitntaW.s.mo. .........

R«: ...... onlNew Mert'lbel"S

0fIIGe "-" 5t.11nlll, II (2)

26 Parm8"lent 2 e.w.Help 2 SpIlC.' Projeeta

FCERA Organizational Chart - Proposed

BOARD OF RETIREMENT

Retlremetlt Admlni$ti'ator

r - Assistant ~Iremant Admln.ltrator

I al""" SaRlces Information ~no Accountlf!

........ - ~"'dP~~Ana'*Yft"'jl S~!I AcerlwMIktt

~T'tm.nt Coo",lnMM SUPINJ.orI II $14*"18ln9 Account Cia II

I I Member S«vie" 8efIefiti Ind Admin Suppm Accounllng

RltlraMM A..-y •• I. H.III Account CI.-rIo: " II, In A:c;caunblntt ~ n, Sr. (Z)

btIIwntntSeMc:ts T.chr'!Ic'- t. R. f1f • .tItMMtIt Accounthg ~CHfttI. •• "

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or ftefl"l'MIm COORIlneDt l, Il, '" {1) or"--nlJn"t~

TedlnlcWl " 11, 111 (2'

Extra Help

....... -"'["'.(11 tt~ CoonInafDr 1

Admlnfstr.mve. Servica AtlslStat1t

tt-..paonlNllw MtmIl ....

Offlc. Milistant I,ll. III (2)

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Basis pc-ints AddiUonal Money

Ma)timum Administrative Budget

Estimated Salaries and Benefits

Estimated Services and Supplies

Computer software. hardware. and computer technology computl!r services

Total EsUmate<l Budget

Basis Points

Total Amount Base Budget Is Under (Over) Mo,lmurn Allowable by law

Fresno County Empfoyees' Retirement AssociatIon Calculalon of Estimated _urn Adminlsh'Mo Budget

For Budget Year 2<1'4-'5

(') Total Accurod Costs excluded Acturlal Liability at (2) $2,000,000 + from

6130113 (GC COLA(GC Adminisir8ltlve 3'580.2(oX'» 31580.2(0)(2» Budget

GC§31580.2 GC §3'580.2 $ 4,694,780,000 S 2,154,045

0,002100

$ 9,859,038 $ 2,154,045

S 2,670,400 $ 2,810,400

1,689,700 1,689,700

,,778,400

S 4,360,100 $ 4.380:100 -So 1,178.400

0.000929 2.024,45

$ 5,498,938 $ (2,206,055) $ ,,778.400

Base for Calculation (2)

S 2,000,000 COLA 2010 0.0' New Baoe 2011-12 budget $ 2,020,000 COLA 2011 0.03 New Base 2012-13 budget S 2,080,600 COLA 2013 0.02 New Ba .. 20'3-14 budget $ 2,122,212 COlA 2014 0.0'5 New Baee 2014-,5 budget $ 2,154,045

exchJded costs

Replacement Computers, printers ,nd montlors

New monitors and T --bars to Bilow dual monitor setup

Replacemonl PAS and Now EDMS

Ecopy ScanStalion Upgrade

- -----Consulting Services on New Pen=sions M~~'!!.~t..ratl!t~tem ______ • __ _

Peter Stalder, Software Maintenance (contracted $1500 per mont,." reduced to 51000 July 1)

Wyatt Workorders

8300

6300

8300

7297

7297

Fresno County Employees' Retirement Associalion 2014-15 Administrative Budget

Adopted 2013--14

7.000

2.764.050

AdJuoted Adoptod 2013-

14

$ 7.000

2.764.050

Percentage Expended

Actual as of as of Projected 2013- Base Budget :>/18/14 2118/14 14 2014-15

6,629 95% $ 6.629 $ 7.530

0%

1.195.290 43% 2.164.050 1.:500.177

0''' 6,494

.• _------_.-

Increasel (Decre ... )

Ila.e SUdg.t over Projected

14%

-46%

IncreSisel (Decre ... ) Bas.

Budget over Ad).Jated

8%

""

1.014,~.¥l _____ '.014.950_. ___ E§·a-~ ___ ~ __ 1 ,0'4.,I!§!l ____ 258,'50 ________ .:?JLI!. ••• __ •• __ -t~~

12.000 12.000 5.000

10.000 10.000

$ 3,80a.000 $ 3.aoo.oOo $ 1.383.725

42%

0%

12.000

10.000

6,000

36% $ 3,607~ $,;778.351

I S 1.778.400 I

-50% ·50%

--53% -53%

Depreciation

Adopred 2013· 14

Charged to accounts 170,814

$ 170.814

Dep!9Ciation

Fresno County Employees' Retirement AssocIation 2014-15 AdminIstrative Budget

Adjusted Percentage Adopted 2013- Atlu,I •• of expended as Projee1Od 2013·

14 1213112013 of 12131/2013 14

170.814 85.408 50% 170.816

0%

0%

S 170.814 S 8S~ 50% S 110,816

Base Budget 2014-15

170.816

.1 170.816

S 171.000

Increasel (Decrease)

Base Budget over Projected

0% Do/,

D%

Increase! (Decrease) Base

Budget over Adjusted

0%

0%

0%

Fresno County Employees' Retirement Association 20114·15 Administrative Budget

Account 7040 - Telephones

Percentage tncreasei Increase} Adjusted Expended (Decrease) (Decrease) Base

Adaple<! Adaple<! Ac(ual8S of liS of Projected Base SUdg6t Base Budget Budget over 2013·14 2013·14 2/18/14 2/18/14 2013-14 2014-15 over Projected Adjus1ed

land Line S 4,333 $ 4,333 $ 2,246 52% $ 3,850 4,235 (1) 10% -2%

Wireless 5,357 5,357 3,185 59% S U78 5,117 (1) 1% -4%

0% 0% 0% 0% 0% 0%

S 9,690 $ 9,890 S 5.431 56% S 8,628 $ - 9,352 8% -3%

Budgeted Total - Telephones $ 9,400

(1) 10% increaee budgeted

Account 7101· Uability Insurance

Fiduciary liability Insurance

liability Insurance - Property

P~1\y IIlSlJfaJlCe • building

General Uabllty (County Chafll'l)

Budoet Total - Liability Insurance

(1) Proposed at 102% of projected

Fresno County Employees' Retirement Association 2014-15 Administrative Budget

Percentage Adjusted Expended

Mopted Adopted Actual as of as of Projected 2013-14 2013·14 2/18/14 2118/14 2013·14

$116,118 S 116,178 $ 0% $ 116,118

6,448 6,448 6,181 98% 8 ,1&1

3,834 3,834 3,412 91% 3,472

220 220 0% 220

$126,680 $ 126,880 $ 9,633 8% S 126,031

Increase! Increase' (Decrease) (Decrease) Base

Base Budget Base Budget Budgatover 2014-15 over Projected ~u.ted

$ 118,502 (1) 2% 2'4

6,n1 (2) 10% 5%

3,619 (2) 10% 0%

2,241 (3) 919% 919"",

$ 131,339 4% 4%

$ 131,300

""''''''''1220 -__ -BuiIdi'lgs .... Ground!.

IrlCIu:!es 7345

JanItoria/(cantrect pbStt99 X t:l}

YardSeroAoe

QIh"

Pest ~ ($48.'1 X 12}(monflto ITlOI1fl IIgl'8emen1,)

Budglthld TDtal • MIIinhInal'lCEl- Bul~ng. ni Grounda

Detah • ather C-w

PlUm .... NO fIIt.m and f<,ns A/C,_ Oller

Door and Allrm RIptIh Projector Lift Repair Reploce 11;1'11 bulbI SeeLlrtly S)'etlm. test

Fresno County Employees' RetIrement A&SoetaUon 201"-15 Ad""nlltrattve Budget

Adjusted Percen!age

Ad .... ' Adoptetl ActuSI .. of Expended aa PMjICItd 2013-14 2013-14 211&114 of2lMJ14 2013--14

• 15.850 S 15.850 S . .." .,,, 14.383

3 .... .. ',,, 3 .... " ... ..... '.000 '.000 0,D32 ..... 7,515

582 582 3<0 .... "3

• 26,337_ _I _ .~,331 • 1e,~14 1011 $ 2$,106

J 18.1514 ~1015

-... estimated ....... i .. , ..52 """ 134. ,,1 2.201 ,..,. .,. 61' '000

1340 1,6115 1.000 '000

'50 1,977 ... '" ,... 771 11' 1345 " 38

• 5.032 $ 7,58.:5 . $- 15,000

Int~.Mf Increasel (DeeNa'.) (Decreese) Bue

Base Budget Bale Budget Budget over 2014-15 aver Protected AdiUltad

S 1",.aeS 0':. ...,. ..... u," "" '.000 -21" ""

582 01; C)'!t.

, 2",675 .. " ....

S 24,900

Account 7250· Membership

State Asaoeiatlon of County Retirement Systems

CalAPRS

GFOA(2)

International Federaticn of Employee Benefit Plans (ntduced to one membership)

NCPERS

Budge"'" Total - Member&llips

Amounts estimated based on actual wrrent yeflr expenditure&.

Fresno County Employees' Retirement Association 2014·1~ Administrative Budget

Adjusted Percentage Adopled Adopted Actuala. of Expended aa ProJec1ed Base Budget 2013-14 2013-14 2/18114 012118114 2013-14 2014-15

$ 4,000 $ 4,000 $ 4,000 100% S 4,000 $ 4,000

2,000 2,000 2,000 100% $ 2,000 2,000

420 420 420 100% $ 420 420

295 295 295 lOll'''" S 295 295

450 450 500 111% $ 500 500

11 7.165 $ 7,165 $ 7,215 101% $ 7,215 $ 7.215

,-"-;2:15 L"T.215

$ 7.200

Increase/ In0f88eal (Decrease) (Decrease) 6ase

Base Budget Budgelover over Projected Adjusted

0.00% 0%

0.00% 0'110

0.00'4 0%

0.00% 0%

0.00'4 11%

0%

0% 1%


"""'""I 7285· General Operating ex_ I""""se! Increase!

Adjusted Percentage (Oeaease) (Oecnase) Base Adopted 2013- Adopted Actual as of Expended as P",jeeled 2013- BaBe Budget Base Budget Budget over

1. 201:>-1. 211811_ of 2/18/14 14 2014-15 over Projected Adlusted

0% 0% Office SuPllfies (paper. lOner) $ 13.748 $ '3.748 S '0,287 75% S 11,635 $ '9.399 '0% 41%

Copier maintenance and copies 2,4" 2,444 2,t58t5 106% 4.431 4.87. 10% 99%

P't1ntlng - Annual Report, Comprehenalve Annual Financiel Report, Deferred and District Benefit Statements. EJection Notice' 26.962 28.9112 7.430 28% 2'.720 25,203 "'" ·7%

Printing - OU1er 961 961 7,72.1 603% 25.400 25.927 (11 2% 2598%

Storage - offsllB 7.500 7,500 1.620 24% 4,080 7,500 84% 0%

Mlscena".ous Items 30.175 30.175 4,M2 15% 5.958 6.765 (2) 14% -76%

Subscriptions 2.136 2,136 1,337 63'lI. 1.783 2.136 (3) 2Il% 0%

Il'J(, 0% 0%

S 83.926 $ 83.926 $ 35.822 '3% S 84.007 $ 91.608 9% 9%

Total Expend~ures $ 351822 S 841007

Budgeted Total- Office Expanse $ 91,800

Actualuof Prol_ _8_

(3) aubscrljlUonl: 2118/1' 2013-14 2014-15

putJI ic Retirement Journal 950 950 950 Fresno Bee 138 155 260

Fresno County Employees' Retirement AssoclaOon 2014·15 AdmInIstrative Budget

Management Briefing 139 139 Communieatiol"lS Briefings 139 200 HR SPECIALIST 24. 2<9 200 GFOA Government Newsletter 250 275 0

Actuela$ of Projected 2013· Base Budget $ 1,337 $ 1,892 $ 2,024 (2)misc. 2118/14 ,. .2014-15

offsite educational

(1) printing summit 924 924 1800 CAFRancl PAFR

Election Notices 1988 1986 735 applicatiOn 1090 1090 1090 wire transfer

Newsletter 3211 12844 14128 fee 70 120 150 Retired Member handbook (reprints) 232 2000 1000 shredding 130 223 448

relocation Active member handbook (reprints) 1656 5000 6000 costs 447 447 0

name plme. CAFRlPAFR 1000 1100 plaques 32 32 50 COlA Letter 0 0 0 meil slat 168 168 0 Benefit statemenls 0 1200 1320 repait pfinter 218 218 0 SU$iness cards ~ 690 920 OIhor 117 998 500

library 7,430 24,720 25,203 additions 19B 196 2500

mini recon::Iar 136 136 0 microwave and

pay stubs 17 32 11 refrigerator 241l 249 50 surge protectors,

envelopes 274 548 603 oven cart 594 594 0 comment sheets 100 "" printer 108 400 0

keurig coffee machine 163 163 179

$ 4,642 S 5,958 $ 6.765

291 """ 72. Total Printing 7,721 25,400 25,927

Account 7266 -Interoffice Messenger Service

Cost provIded by County

Totll Expendlhlr ••

Budgeted Total- OffIce Expense

• Cost provided by Cou~


Percentage Adopted 2013·

14

AtfJ.lsled Adopled Actual as of Expended as Projected 2013· Base Budget

~ 2119114 012119114 14 2014-15

$ 2.730 S 2.730 $ 1.587 58% 2.730 $ 3.344 •

$ 2.730 $ 2.730 $ 1.587 58% $ 2.730 $ '3.344

$ 1.587 r-2,7S-0

$ 3.300

Increase! (Decrease)

Basa Budget over Projected

0% 22%

22%

Increase! (Decrease) Base


0% 22%

22%

Ao:.ou nt 7268 . P06tage

Normal Postage

M8iling Election NoUees

OvernIght dellvefy 11> 1he !loan!

Ovemighl delivery

Annual "'port, Dl.trlct and Defernld aener_ Statements, newsl'ettllllrs, hb letter

Public Requests for Infonnation

Budgeted Total· Pos1a~.

Fresno County EmployMs' Retirement Assodatlon 2014-15 Administrative Budget


Adoptod Adoptod Acfual as of 85 of Projected 2013-14 2013·14 2/18/14 2/18/14 2013·14

$ $ $ 0% $

8,577 8,577 5,364 63% $ 9,195

787 787 1,438 183% S 1,438

11 11 0'J10 $

616 0% S 1,056

7 ,551 7,551 7,131 94% $ 14,262

0% $

$ 16,926 $ 16,926 $ 14,549 ..• ,lo a

66% '-25,951 -(1) Add iional 53000 Included to accommodalo potential separate mailing of annual report ond COlA 'ette'

(2) ,,,,,,,,,,sec! by 3.0% to ."""",,1 lor potential coo1lrcreases

Increase! Increase! (Decre.se) (Decre.se) Ba ..

Base Budget Base Budget Budget over 2014-15 over Proi!cted Adjusted

$ 0% 0%

9,471 (2) 3% 10%

1,200 ·17% 52%

0% ·100%

1,088 (2) 3% 0%

18,688 (1) 31% 147%

0% 0%

$ 30,447 17% 80%

$ 30,400

Account 7286· ITSD HR Charge.

Fresno County Employees' Retirement Association 2014·15 Administrative Budget

Percentage Adjusted Expendetl

Adopted Adopted Actual BBOf •• of Projected 2013-14 2013-14 2118114 2118/14 2013-14

Base Budget 2014·15

Charge:s provided by Coonty of Fresno $ 5,241 $ 5,241 $ 2,767 53% $ 5,241 (1) $ 4,812

r 5,241 $ 5.241 $ 2,767 53% $ 5,241 I 4,812

Budgeted total - ITSD HR Charges $ 4,800

Based on the number of employees per ITSO (1} Expenditures limited to amount budgeted for year

Increase' Increasel (Decrease) (Decrease) Base

Base Budget Budget over over Projected Adjusted

-8% ..a'ir

-8% -8%

Account 7287 - ITSD Financials Charges

Fresno County Employees' Retirement AssoclaUon 2014-15 Administrative Budget

Adopted 2013-14

Adjusted Adopted

~

Percentage Expended

Actua I as of as of 2118/14 2118/14

Projecled

~ Base Budget

2014-15

Charges provided by COunty of Fresno $ 15,497 $ 15,497 $ 8,660 56% $ 15,497 (1) $ 14,859

$ 15,497 $ 15,497 $ 8,660

Budgeted total- ITSD Financlals Charges

Based on number of trnnsactiOl1$ recorded on PeopleSoft Finandals per ITSD (1) Expenditures limited to amount budgeted for year

56% J 15,497 l 14,659

S 14,900

Increase/ (Decrease)

Base 8udget oyer Projected

-4%

-4%

Increasel (Decrease) Base


-4%

-4%

I I

Account 7296 ·ITSD Charges

ITS 0 Chal1l9s

Budgeted total· ITSD Charges

Fresno County Employees' Retirement Association 2014-15 AdminiS1rative Budget


Adopted Adopted Actual as of 85 of Projected 2013·14 2013·14 2/18/14 2118/14 2013·14

$ 137,417 $ 137,417 $ 88,334 64% $ 151,430

Sase Budget 2014·15

$ 151,620

$137,4fr -natA17 $ 88,334 64% $ 151,430 $ 151.620

$ 151,600

Increase! Increase' (Decrease) (Decrease) e ....


0% 0% 0% 10%

0% 10%

Account 7411 - Commissions/Advisory Boards


Adop1ed 2013-14

Adjusted Adopted

~

Percentage Expended

Actual as of as of 2118/14 2/18114

Projected

~ Base Budget

2014-15

$100 per meetlngl$500 per month maximum $ 20.394 $ 20.394 $ 5.500 27% $ 8.800 $ 12.000

(5 members x $2(lD per month:ll; 12 months)

$ 20,394 $2lf,394 S 5.500 27% $ 8,800 $ 12.000

Budgeted Total- Commissions/Advisory Boards $ 12.000

Increasel (Decrease)

Base Budgel over ProJected

36%

36%

Increaser (Decrease) Base


-41%

-100%


Account 7415· Training and Tra\lel- Staff

Percentage Increasel Increasel Adjusted Expended (Decrea.e) (Decrease) Base

Adopted Adopted Actual as of as of Projected ease Budget Base Budget Budget over 2013-14 2013-14 2118114 2/18114 2013-14 20'4-15 over Projected Adjusted

CalAPRS Conference Reglstra60n 2,000 1,000 50% 1,000 2,000 100% 0%

CaIAPR$ Conference Travel 2,000 198 0% 198 1,000 405% 0%

CalAPI'iS Roundtables ~nd class Registration 5,500 5,500 300 5% 2,000 2,500 25% -55%

CalAPRS Roundtables and class Travel 7,500 7,500 2,702 38% 6,000 5,000 -17% -33%

SACRS Conference Reglstratlon 600 600 360 60% 2,800 600 -79% 00/,

SACRS Conference Travel 14,2{lO 14,200 2,996 21% 6,000 14,200 137% 0%

Other Training Registration - GFOA, OnBase, Educational Summit 6,000 6,000 2,500 42% 4,000 6,000 50% O'k

other Training Tmvel- GFOA. On6Ase. Educational Summit 10,000 10,000 1,605 16% 5,000 6,000 20% -40%

$ 45,800 $ 45,800 $ 11,661 25% $ 26,998 $ 37,300 38% -19% ---$ 11,661

= $ 26,998

Budgeted Total- Training and Travel $ 37,300

Due diligence travel is included in Account 7564 -Investment Expense which is not part of the Administrative Budget.

Freono County E"""oyees' Retiremem Association 21114-15 Adlnlnlstnl1lv<o Budge1

Acoount 7417 • Tr6~1 ,net Travel - Board

........... 1: ;I

Adjusted Expanded i 11108 .UOgot Adopted AdoJmld Aclvs/ as of ... f Proleeted 2013-14 2013·14 :111811. 2f18J1" 2013-14 'j 20' ..... f5

,i L , __ 111,350 e1.3~ _i

\'\Iharto"! School of Business - Prtnclples elf ; S

" Public M~mcnt Reolstration 1<000 14,000 - II ' l .... DOO Wtllirton SlOhooTof Busln_ :-Prl~piOs ciI

._ ..... -_ .. ,._! .• --_."--. -'1: --_ ... __ ._-I

~_MaM!Il!"1e!:(T~_~. - .,.Q I ~ \L-ACRS Tr.JYel '.00 115 100 3.350 6,560 ; 15.100

SACRSR """ 1700 1.1 0001 1,200 I~ , 700

~ACRS : p"""",.,. 0/ ........ ,_ , !

5:000 IL • R.~ ... .. .... ___ -!.~ 7 ,000 5 .000~ 31.~ SACRS - PttndpIes Of PensIon I nYeStmenl , Travel 0 452i 452

I :''IN'RS - 1"rQ;:1p1ea of Soard Leadenlhlp FWgbtr"alion

, O· ii ·1 !

CALAPRS - PrinQiples. of Board Leadership __ . ___ ...... c;J.! --_._.:L I!!'!.'! __ ... ____ ._. _____ . ____ •. ___ .. _______ ,_",,_ •• .• '. ... ",-,---"" ' .. -~

~_l.A~~, - ~rk'I;:~~ ~ }.ru~~ ~.!i!!.!tRtion 6280 .. - ~~~j . -- .. -.-_ ... _._ .. ! c..... .~!IQ ALAPRS - Princi for Trustees Travel 0

CALAPRS Travel- Roundt8b1(:'$. General I A$semblv $ 6.25D 8,260 ! 1,135 i 1,135 6,250 CALAPRS Regisb"ation - Roundtables, General

" ~!'.!lbJ1_, _ ....... ·~_r' . __ .•... __ " .. ' ____ ._ 0 400! 4OO ! • ... _ .0- _. -- .. -.----. Pension ."!! Investment

Flducl." ColI ... 201 0 • ReglslOllion 0 Fidud. Col. 2010- Travel 0 : -= . :':~50.~_ -iC 2.500 p~.~-.-- _ . ... - . --... -. .~" i-'- ~' ,2501' ~ -= -

_ .. !I

Other T~ • Educational Summit. IMH, PublIC i\ R«l'emenl Journal, VNiIs CUon!: SurmlIt 8516 861$ &,211 ! 12.1t1 il e.af~

r '- $ 50 ., • 17648 , $ 26'" $ ., eNd TotaI- Tra end Travel - Soard' 81400

Incru881 Increase! (Osc:nIaae) (Decrease) BasE 88se8udg~

over Pro.;eCted Sudgetover

Ad" ....

129'J'i O.

- -- _.---

_ . .. . _ .. -- __ ,-0_ •••. _ _ •• _---

- -- .--.-.

,- '"

Account 7611 Secunty

Hh'Sch System

Security Services

Total Budgeted - Security

Provided by County



Adopted Adoptod Actual as of as of PtojoC1ed 2013·14 2013-14 2118114 2MI14 2013-14

S 1,962 $ 1,962 $ 1,431 73% $ 2,147

5,970 5,970 5,754 96% 8,631

Ba •• Budget 2014-15

$ 1,772 (1)

14,229 (1)

$-7;932 $ 7,932 $ 7,185 91% $10,778T-16,OOI

$ 16,000

Increase! lncreasef (Dooro.so) (Decre ••• ) Ba ..

Bas. Budget Budget over over Projected Adjusted

·17% ·10%

65% 138%

48% 102%

Account 7430 - Utilities

PG&E

Water

Garbage

Total Budgeted - Utilities

(1) Proposed otll0% ofprojecled

Fresno County Employ •• s' Retirement Association 2014-15 Administrative Budget

Percenlage Adjus1ed Expended

Adopted Adopted Actual as of as of Projected 2013-14 2013-14 2118/14 2118/1' 2013-14

$ 20,045 $ 20,045 $ 11,445 57% $ 19,620

2,487 2,487 1,498 60% 2,568

1,252 1,252 380 30% 570

Base Budget 2014-15

$ 21,582 (I)

2,825 (1)

1,254 (1)

$ 2UI!LS 23,784 $ 13,323 56% S :22,758 -S--2.~i;61

$ 25,700

Inoreasel Inc::tetlsel (Oecrease) (De""",se) Sa ..


10% 8%

10% 14%

120"10 0%

13% 8%

I\ccOUl'lt 6300 - Fixed Asse ts

Adopted 2013-

1~

Furnishings 10,000

l 10,000

BudgefBd Tctal- Fixed Assets

Fresno County Employees' Retirement Association 201~15 Administrative Budget

Adjusted Percentage Adopted 2013- Actual as of Expended .s Projected 2013·

14 2118/14 of 2116114 14

10,000 0% 10,000

0%

0%

Base Budgel 2014-15

10,000

s 10,000 J$C== 0% S 10,000 $ fMOO

S 10,000

Incmaooi InCl'08ael (Decrease) (Decrease)

Proposed over Proposed over Projected Adjusted

0% 0%

0% 0%

0% 0%

Retirement Services Technician I

Definition:

Under general supervision, performs paraprofessional benefit, contributions and accounting work involving the application of technical skills, accounting principles and procedures required in the utilization of a retirement system; and performs related work as required.

Distinguishing Characters:

The FCERA, headed by the Retirement Administrator, is responsible for controlling and accounting for contributions, administering benefItS and investment Income under the direction of a nine-member Board of Retirement. FCERA is an Independent association established by the County Employees Retirement Law of 1937 and is subject to the laws governing fiduciaries. The Association provides retirement benefits for eligible employees of the County of Fresno and participating agencies including the Fresno-Madera Area Agency on Aging, Clovis Veteran's Memorial District, Fresno Mosquito and Vector Control District, and Superior Courts of California, County of Fresno (Courts) employees.

Retirement Services Technician I is the entry level classification in the Retirement Services Technician classification series and serves as technical specialists performing paraprofessional technical skills, retirement and accounting work within a specialized area of the County's retirement system. ASSignments require the independent application of established technical skUis, accounting principles and procedures Involved in the utilization of a retirement system. The classification differs from Retirement Technician II in that incumbents of the latter claSSification are expected to complete assignments with a minimum of supervision, and are given Increased responsibility and latitude of judgment to complete assignments.

This class differs from the Retirement Coordinator and Accountant claSSifICation series in that the duties of the Retirement Services Technician are based on an understanding of a particular specialized area rather than a broad general professional knowledge of programs and accounting principles and practices. The Retirement Services Technician differs from the Account Oerk classification series in that Service Technician incumbents are responsible for the non-clerical aspects of benefits, contributions, and accounting which require a wider range and variety of advanced technical skills, accounting and bookkeeping knowledge.

Samples of Duties;

The information listed below is meant to serve as samples of Job duties and responsibilities for positions in this dassificatlon. This list is neither inclusive nor exclusive, but indicative of several types of duties performed. Consequently, this information does not reflect Essential Function for any given position in this classification.

1. Performs paraprofessional benefit calculations, contribution balances, and accounting work involving the application of technical skills, accounting principles and procedures required in the utilization of FCERA's systems, such as NAV, Arrivos, or PeopieSoft.

2. Reviews, compares, analyzes, and reconciles system-generated data.

3. Reviews and analyzes billing activity of money managers, private money managers, etc. for appropriateness and correctness.

4. Maintains control and subsidiary accounting records involving a wide variety of accounting and financial transOlctions, for benefits, contributions and general ledger.

S. Identifies and resolves problems and inconsistencies and determines corrective entries involved in maintaining controls. Examines, reconciles, balances, and adjusts records which require a specialized knowledge of the purposes, methods and practices oftechnical record keeping.

6. Prepare statements, reports and budgets from a variety of preliminary reports, data, benefit, contributions and accounting records, and computer products In accordance with speCific actuarial reporting formats and accounting principles.

7. May prepare special reports involving searching for and abstracting technical data.

8. Prepares reports

Knowledge, Skills, and Abllltles:

Knowledge of:

~ Basic financial and accounting principles, practices and methods. ~ Governmental accounting principles and practices to assist in preparing annual reports and

financial statements. ~ Specialized knowledge related to the assigned program and retirement system. ~ Knowledge of program area policies, procedures, rules and regulations. ~ Principles and practices of data collection and report preparation. ~ Effective record keeping practices and procedures. ~ The analvsis and evaluation of financial operations and programs. ~ Matnematical concepts related to budgets and accounting.

Skills/Abilities:

J> Analyze financial data and interpret results for management reports. );> Prepare summary financial reports and statement accurately. ~ Interpret and applv the poliCies, procedures, laws and regulations pertaining to the assigned

program and retirement system. ~ Assess and interpret program information and develop findings and recommendations based

upon relevant information. ):> Clearly transmit, verbally and in writing, analysis findings, and recommendations to supervisory

and management staff. ):> Project management ability to effectively multi-task and consistently meet deadlines. ~ Work independent and in a team-oriented environment. ~ Provide technical guidance to staff on the assigned program and retirement system. ~ Maintain effective Interpersonal relationships at all levels within the FCERA, co-workers and the

members.

» Demonstrate initiative, integrity, maturity, and exercise sound judgment.

Minimum Qualifications: Education: Completion of nine (9) semester units of business administration, finance or accounting coursework that is acceptable within the United States' accredited college or university system.

Experience: Four (4) years of full-time, paid bookkeeping experience equivalent to that gained as an Account Clerk 1\1 with the County of Fresno. One (1) year of this experience must have involved providing data analysis and financial reports through the utilization of an accounting system, such as PeopleSoft, Microsoft Dynamics NAV, Arrivos.

license: A valid Class ·C· california Driver's license may be required.

Retirement 5enIices Tedmldan Ii

Defmitlon:

Under general supervision, performs paraprofessional benefitj contributions, and accounting wort Involving the application of technkal accounting principle. and procedures required in the utilization ofa retirement system; and perfo"", rel.ted work a. required.

Distlnsuishlng Characters:

The FCERA, headed by the Retirement Administrator, Is responsible for cantlolling and accounting for contributions, administering benefits and investmertt income under the direction of a nine-member Board of Retirement. FCERA is an Independent association established by the COunty Emplovees Retirement law of 1937 and is subject In the law. govomlng fldudarles. The Association proVides retirement benefots for eligible employe •• of the County of Fresno and participating agencies including the Fresno-Madera Area Agency on Aging, aovts Veteran's Memorial District, Fresno Mosquito and Vector Control District, and SUperior COurts of california, County of Fresno (COurts) employees.

Retirement Servioos Technician II is the experienced level classiflcation in the Retlroment Services Technician da .. iflcatlon series and servesastochnlcal spedafists perfo""lng paraprofessional technical skills, retlrementand accounting work w~hln a spoclaUzed are. of the County's retirement system. Assl.gnments require the independent application of ostabllshed technical skills, accounting principles and procedures involved in the utlHzatlon of a retirement system. The dassification differ; from Retirement Technician lin that Incumbents of the former classification are expected to complete assignments with a minimum of supervision, and are given lncreased responsibility and latitude of judgment to complete assignments.

This class differs from the Retirement Coordinator and Accountant classification series in that the: duties of the Retirement Services Technician are based on an understanding of a particular specialized area ratherthan a broad general professional knowledge of programs and accounting principles and practl<:e5. The Rlrtirement Services Technician differs from the Aa:Dunt Oerk classffication series In that Service Technician incumbent5 are responsibte for the non-clerical aspects of benefits, contributions, and accounting which require a wider range and variety of advanced technical skills, ",counting and bookkeeping knowledge.

Samples of Duties:

The informaticn listed below is meant In serve as samples of job duties and responsibilities for positions in this dassiflCaticn. This list is neither inclusive nor exduslve, but indicative of several types of duties performed. Consequently, this information does not reflect £SSentlal Function for anvaiven position in this classification.

1. Performs paraprofessional bene~ ",leul.tlons, contribution balances, and accounting work involving the appficatlon of tedmical skills, accounting principles and procedures required In the utilization of FCERA's systems, SIIch as NAV, Arrlvos, or PeopJeSoft.

2. Reviews, compares, analyzes, and recontiles system-generated data.

3. Reviews and .nalyzes billing activity of money managers, private money managers, ett. for appropriateness and correctness.

4. Maintains control and subsidiary acc::ounting records involving a wide variety of aa;ounting and financial transactions, for beneflts, contributions and general ledger.

5. Identifies and resolves probtems and inconsistencies and determines corrective entries moWed in maintaining controls. Examines, reconciles, bafances, and adjusts records whlc~ require a specialized knowledge of the purposes, methods and practices of technical record keeping.

6. Prepare federal, state and local claims, statements, reports and budgets from a variety of preliminary reports, dataJ accountins records, and computer products in accordance wtth SpecifIC actuarial reporting formats and accoontfng principles.

7. May preparo special reports involving searching for and abstracting technical data.

8. Prepares reports

Knowledge, Skms, and Abnities:

Knowledge of:

l> Basic finandal and accounting principles, practioes and methods. l> Governmental accounting principles and practices to assist in preparing annuaf reports and

financial statements. l> Specialized knowledge related Ix> the assigned program and retirement system. )0 Knowledge of program area policies, procedures, rules and regulations. l> Principles and practloes of data collection and report preparation. ). Effective record keeping practices and procedures. » The analysis and evaluation of financial operations and programs. l> Mathematical amcepts related Ix> budgets and accounting.

Skills/Abilities:

l> Analyze fin.nclal data and Interpret results for management reports. » Prepare summary finandal reports and statement accurately. )0 Interpret and apply the policies, procedures, laws and reRu~ations pertaining to the assigned

program and retirement synem. l> Assess and Interpret program Information and develop findlnp and recommendations based

upon relevant information. » Clearly transmit, verbally and in writio& analysis findings, and recommend<ltion, to supervisory

and management staff. l> Project management ablRty to effectively multi-task and consistently meet deadline .. )0 Work independent and in a leam-oriented environment. » Provide technical guldanoe Ix> staff on the assigned program and retirement system. » Maintain effective Interpersonal ",Iationships at .11 levels within the FeERA, co-workeTS and the

membel'$.

» Demonstrate initiative, inte8l'ity, maturity, and exercise sound judgment.

Minimum Qualifications: Education: Completion of nine OJ!~. ~rylts. ~.blJSin~ss. ~~!,!i.n!s!ratl!?n .or.a.ctI)U.ntlM.. . · I,,~=' ='=--",-' ___ ___ ~ coursework that Is acceptable within the United States' accredited college or uniYersit\' system,

experience: Eighteen (lS) months of full-time, paid work experience equiwlent to that pined as a Retirement Services Technician I with the County of Fresno.

Ucense: A valid ct.Iss·C' califomla Driller's UCense may be required.

Documents

Current Ad min istrative Budget - Fresno County, California 5_ocr.pdf · 7 Wurts believes that each of the current managers is capable and deserving of consideration for these newly