Orange County NC Website
Browse       Search
Continuation - Benefit Increases <br /> Federal pnd State legislation establishes employer-required matchingcI rates <br /> Slide #7 <br /> and annual employer health insurance premiums.Together, these c�ianges <br /> require adjustments to our local operational plan including: <br /> �0 for an estimated increase in FICA expense to account for <br /> estimated increases in salaries and corresponding supplements <br /> for an estimated increase to 25.8%from 24.5%in the matching <br /> TSERS rate <br /> ' for an estimated increase fo$7,679 from $7,397 for the Employer <br /> Health Insurance Cost of each employee <br /> These combined increase estimates in matching benefits total $1,626,000 <br /> THINK (AND ACT) <br /> Jonathan Scott said that the salary increases also trigger corresponding benefit increases <br /> include FICA, retirement, and health insurance rates. <br /> Slide #8 <br /> DIFFERENTLY <br /> Chapel FEill-Cae6oro City Schools�chccs.or® <br /> Continuation - Inflationary Adjustment <br /> • The preliminary continuation budget includes a 5% Inflationary <br /> Adjustment to Non-Salary Operating Costs for a total of$655,000. <br /> • The March release of inflationary data showed an overall CPI of <br /> 5.0% after peaking around 8.9%within the last year. <br /> • The District chose a conservative estimate of 5% across the board <br /> due to uncertainty in the different baskets of the CPI index. <br /> • The operational costs most pertinent to the District include items for <br /> utilities, maintenance, supplies, and others required for district <br /> facilities as well as supplies & materials for classrooms funded from <br /> local resources. <br /> THINK (AND ACT) <br /> DIFFERENTLY <br /> Chopel Hill-Carrboro City Schools�chccs.arg <br />