Laserfiche WebLink
<br />City Commission Budget Workshop <br />July 16, 2007 <br />Page 4 <br /> <br />Pay and Benefits <br /> <br />The City's total payroll (pay and benefits) for F.Y. 2008 is $17,104,032 or 38% of the <br />total budget. The reduction in staffing helped to keep the cost of total payroll essentially <br />the same as F.Y. 2007. The City's increase cost for health insurance is $48,620; total <br />premium for F.Y. 2008 is $1,429,120. Pension cost for General Employees is $428,629; <br />Police and Fire is $500,623 and Florida State Retirement is $756,872. There are not State <br />excess funds this year and the City is responsible for the full cost of the Police/Fire <br />Pension Plan. <br /> <br />There are 244 full-time employees proposed for the F.Y. 2008 budget and 18 part-time <br />employees; a 11 % reduction in employees primarily through transfers and vacancies. <br />The proposed pay adjustment for F.Y. 2008 is 3% at a cost of$302,366. Expenses are <br />being reduced from F. Y. 2007 to F. Y. 2008 by almost $1 million in payroll and $1 <br />million in operations. <br /> <br />5. Commission Discussion <br /> <br />The Commission consensus was to set the tentative millage rate at 5 mills. The City <br />Manager will recommend the tentative millage rate be set at 5 mills at the July 23, 2007 <br />Commission Meeting. The first public hearing for the tentative millage and budget is set <br />for September 10, 2007 and the final public hearing and adoption is set for September 24, <br />2007. The Commission may reduce the millage during these hearings, but they cannot <br />increase the millage rate. <br /> <br />6. Adiournment <br /> <br />Vice Mayor Doerner adjoumed the meeting at 8:38 p.m. <br />DATE MINUTES APPROVED BY CITY COMMISSION: ?~ :27-0 7 <br /> <br />ATTEST: <br /> <br />:JtJ/JH/L !h~~ <br /> <br />Thelma McPherson, CMC <br />City Clerk <br /> <br />tlm <br />