|
HANDOUT AT MEETING - 2024-7 - 5.1
<br />Cost per Account: 1 $0.61 1 $0.99 $0.74 $0.55
<br />*Scenario 1 assumes backpay to early January.
<br />2) Current Step
<br />2024
<br />2025
<br />2026
<br />2027
<br />Total
<br />Transition
<br />$135,000*
<br />$225,530
<br />$171,055
<br />$34,466
<br />$566,051
<br />4% COLA
<br />$0
<br />$9,021
<br />$6,842
<br />$1,379
<br />$17,242
<br />Total:
<br />$135,000
<br />$234,551
<br />$177,897
<br />$35,845
<br />$583,293
<br />Cost per Account:
<br />$0.59
<br />$1.03
<br />$0.78
<br />$0.16
<br />*Scenario 2 assumes a delayed effective date due to transition budget.
<br />Pay Plan B: Step 7 = Former Column 8 (Slightly Market Lagging)
<br />1) Closest Step
<br />2024
<br />2025
<br />2026
<br />2027
<br />Total
<br />Transition
<br />$110,576*
<br />$173,130
<br />$105,568
<br />$99,726
<br />$489,000
<br />4% COLA
<br />0
<br />$6,925
<br />$4,223
<br />$3,989
<br />$15,137
<br />Total:
<br />$110,576
<br />$180,055
<br />$109,791
<br />$103,715
<br />$504,137
<br />Cost per Account:
<br />$0.48
<br />$0.79
<br />$0.48
<br />$0.45
<br />*Scenario 1 assumes backpay to January 1.
<br />2) Current Step
<br />2024
<br />2025
<br />2026
<br />2027
<br />Total
<br />Transition
<br />$135,000*
<br />$168,260
<br />$108,521
<br />$28,662
<br />$440,442
<br />4% COLA
<br />0
<br />$6,730
<br />$4,341
<br />$1,146
<br />$12,218
<br />Total:
<br />$135,000
<br />$174,990
<br />$112,862
<br />$29,808
<br />$452,660
<br />Cost per Account:
<br />$0.59
<br />$0.50
<br />$0.76
<br />$0.13
<br />*Scenario 2 assumes a delayed effective date due to transition budget.
<br />As shown in the above tables, if implemented in 2024, costs would be limited to the.$135K
<br />budgeted for implementation costs. Although past performance does not guarantee future
<br />results, ERMU's past margins would indicate our rates would not need to be adjusted solely due
<br />to the implementation of the proposed pay plan. We could absorb the anticipated annual costs
<br />shown above and still meet our commission -approved margins.
<br />NEXT STEPS:
<br />In addition to approving a pay plan, the Commission will need to select an implementation
<br />scenario and an effective date. Once a pay plan is approved, Baker Tilly will provide a final
<br />report documenting the process, the results, and the approved pay plan. Staff will update our
<br />payroll system in accordance with the approved plan, implementation scenario, and effective
<br />date. If the effective date is in the past, backpay will be calculated and paid out as required.
<br />ATTACHMENT:
<br />• Proposed Pay Plan Options
<br />• Example Implementation Scenarios
<br />Page 3 of 3
<br />
|