Finance Highlights 2011 1202 - Laserfiche WebLink

Home

Employee Relations The City authorized 405 full -time equivalent ( "FTE ") positions during Fiscal Year 2010- 11, of which 343 were full -time employees, 62 were part -time employees, and 86 were sworn police personnel. For Fiscal Year 2011 -12, the City has authorized 409 FTEs, of which 347 are full -time employees, 62 are part -time employees, and 89 are sworn police personnel. The City's employees are represented by three bargaining units. The service employees are currently under a contract which expires December 31, 2012, and all other groups (including police personnel) are under agreements that expire December 31, 2012. Risk Management The City uses a program of self- insurance for workers' compensation and general liability claims to minimize losses. The City also participates in a multi- agency joint powers authority to provide excess insurance coverage for liability coverage. The joint powers authority and the City rely on estimates prepared by professional actuaries to set aside funds adequate to meet potential future losses. See Note 11 in the City's Fiscal Year 2010 -11 audited financial statements (Appendix C) for additional information about the City's risk management practices. Employee Retirement System As described in the body of the Official Statement in "CITY'S PENSION PLANS," PERS maintains two pension plans for the City: a Safety Plan (the "Plan ") and a Miscellaneous Plan (the "Miscellaneous Plan" and, together with the Safety Plan, the "PERS Plans "). The City contributes to PERS amounts equal to the recommended rates for the PERS Plans multiplied by the payroll of those employees of the City who are eligible under PERS. Benefit provision and all other requirements are established by State statute and City ordinance. Funding Policy. City employees are required to contribute 9% of annual covered salary for safety employees and 8% of annual covered salary for all other employees. The City is required to contribute at an actuarially determined rate (based on annual covered payroll); the Fiscal Year 2008 -09 rate was 42.57% for safety employees and 13.22% for miscellaneous employees. The City makes the contributions required of City employees on their behalf and for their account, which amounted to $2,692,173 for the year ended June 30, 2010. A -26