TREASURER – COMPENSATION BOARD Division Description The Treasurer is an elected official responsible for collecting all County revenue, including Federal and State funds; ensuring County funds are adequately safe guarded; investing county funds into a secured interest yielding account; submitting financial reports to the state and County; and authorizing County disbursements. This division accounts for the costs shared between the State Compensation Board and the County for the operations of the Treasurer’s Office.
Base Budget Discussion The base budget is the estimated minimum cost for providing continued services/operations for each division/department. It is based on the prior year approved budget with adjustments. This budget shows how much it would cost in the next fiscal year to operate the same programs approved in the current fiscal year. •
Base Salary and Fringe Benefit Adjustments – For FY 16, the County budget includes an increase in the rate for long term disability insurance from 0.30% to 0.33% and a decrease in unemployment insurance per position from $142 to $99. All other fringe benefit rates remain unchanged for FY 16. Additional funding is also added to cover a 2% across the board scale adjustment to the County’s compensation plan for County employees on July 1 and a 2% merit increase on each employee’s anniversary date.
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Base Compensation Board Revenue Adjustments – A total of ($437) is reduced from the Treasurer’s base compensation board revenue budget. These funds account for the adjustment of revenues as reported by the State Compensation Board in the approved budget and reconciled by the County for FY 15 and FY 16. Each year, Compensation Board funding is reconciled to the final County approved budget when final numbers are received from the state.
Addenda and Reduction Discussion Addenda consist of dollars over and above the base budget target for operating and capital. Approved addenda items are generally for new and/or expanded services/initiatives. Reductions reflect dollars reduced in revenue and/or expense necessary to address a shortfall in the general fund revenue. •
$3,352 is Added to the Treasurer’s Compensation Board Revenue Budget – These funds account for a 2% across the board salary increase contained in the state’s budget for locally supported positions starting September 1, 2015. Since the County’s starting salary is significantly higher than new compensation board starting positions, these additional funds provide additional revenue for the County. Each year, Compensation Board funding is reconciled to the final County approved budget when final numbers are received from the state.