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Make sure to provide the cost of the pay increase ONLY (along with the appropriate pension rate), not the total salary cost The Citys fiscal

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Make sure to provide the cost of the pay increase ONLY (along with the appropriate pension rate), not the total salary cost

  • The Citys fiscal year begins October 1st of eachyear and operates on a biennial budget.
  • Do not assume a secondary merit increase in the second year of the biennial budget.

The City Manager wants to provide a pay increase for all employees. Using the data in the Excel file, please calculate the additional costs for each of the scenarios below. Provide a consolidated summary for each scenario in a single table (pivot tables are preferable). 1. Cost to provide a 5% salary increase for all employees effective October 1; provide the firstand second-year costs. 2. Cost to provide a 5% salary increase for all employees effective January 1 ; provide the firstand second-year costs. 3. Costs to provide a 5% salary increase for civilian employees effective October 1st and a 5% salary increase for uniformed employees effective April 1; provide the first- and secondyear costs. 4. Costs for a 5% salary increase for all employees effective October 1st split out by fund type: a. Enterprise funds b. General fund Your answers should include the following pension rates associated with merit not the full salary amount: a. Use 28.95% for uniformed employees' salary b. Use 11.93% for civilian employees' salary The City Manager wants to provide a pay increase for all employees. Using the data in the Excel file, please calculate the additional costs for each of the scenarios below. Provide a consolidated summary for each scenario in a single table (pivot tables are preferable). 1. Cost to provide a 5% salary increase for all employees effective October 1; provide the firstand second-year costs. 2. Cost to provide a 5% salary increase for all employees effective January 1 ; provide the firstand second-year costs. 3. Costs to provide a 5% salary increase for civilian employees effective October 1st and a 5% salary increase for uniformed employees effective April 1; provide the first- and secondyear costs. 4. Costs for a 5% salary increase for all employees effective October 1st split out by fund type: a. Enterprise funds b. General fund Your answers should include the following pension rates associated with merit not the full salary amount: a. Use 28.95% for uniformed employees' salary b. Use 11.93% for civilian employees' salary

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