1. FCERA Budget Proposal Fiscal Year 2005-06 Executive Summary June 15, 2005

2. FY 2005-06 Executive Summary2 FCERA Administrative Budget 1937 Act defines Board obligations Board establishes FCERA goals and objectives to meet its obligations Staff estimates resources required to meet Board obligations

3. FY 2005-06 Executive Summary3 Budget Goals for 2005-06 Implementation of the Board’s decision on final compensation Improve member service Retain and develop talent through career tracks and merit recognition Keep up with new challenges created by dynamic retirement environment, except for unknown ramifications of the final compensation issue

4. FY 2005-06 Executive Summary4 Significant Items Final Compensation Litigation Substantial Increases in Retirement and Health Insurance Costs Multiple Updates to the Pensions System

5. FY 2005-06 Executive Summary5 Projected 04-05 Budget 05-06 ----------------------- X ----------------------= Budget 04-05 Projected 04-05 Presented Methodology to Budget Committee (1)(2) Budget 05-06 Budget 04-05 ------------------

6. FY 2005-06 Executive Summary6 Accounting for the Difference Proposed Budget 2005-06 to Projected Budget 2004-05

7. FY 2005-06 Executive Summary7 Salaries & Benefits Projected 2004-05 to Budget 2005-06

8. FY 2005-06 Executive Summary8 Overtime Wages Final Compensation Issue Possible conversion to new bank Reclassification of Retirement Supervisor to exempt position

9. FY 2005-06 Executive Summary9 Regular Wages

10. FY 2005-06 Executive Summary10 Benefits

11. FY 2005-06 Executive Summary11 Extra-Help Wages

12. FY 2005-06 Executive Summary12 Services and Supplies Projected 2004-05 to Budget 2005-06

13. FY 2005-06 Executive Summary13 Fixed Assets

14. FY 2005-06 Executive Summary14 Maintenance, Buildings & Grounds

15. FY 2005-06 Executive Summary15 PENSIONS System

16. FY 2005-06 Executive Summary16 Depreciation

17. FY 2005-06 Executive Summary17 Utilities

18. FY 2005-06 Executive Summary18 Other

19. FY 2005-06 Executive Summary19 Liability Insurance

20. FY 2005-06 Executive Summary20 Office Expense (Including Postage)

21. FY 2005-06 Executive Summary21 Travel and Education (Board & Staff) Trustee and staff education-related travel

22. FY 2005-06 Executive Summary22 ITSD Proposed costs are established by the County of Fresno Information Technology Services Department (ITSD)

23. FY 2005-06 Executive Summary23 Professional Services

24. FY 2005-06 Executive Summary24 Professional Services

25. FY 2005-06 Executive Summary25 Fresno County Employees’ Retirement Association Calculation of Estimated Maximum Administrative Budget For Budget Year 2005-06