Loading...
HomeMy WebLinkAboutAppendix B - ExpensesWorking together to serve, build community and enhance quality of life. Appendix B Expenses Operating Costs Operating Costs are ongoing and one-time costs the City incurs in order to provide services and pursue Council and community goals. These Costs include Employee Services, Operations Costs, Special Programs and Projects, and Capital Projects. Employee Services Employee Services are typically about 60% - 65% of General Fund expenditures and comprise all of the costs for employee salaries and benefits. Employees are grouped into five different categories or bargaining units. (Atascadero Police Association, Atascadero Firefighters Bargaining Unit, Local 620 Service Employees International Union, Non-Represented Professional, Mid- Management, Management, and Confidential Employees, and Non-Represented Part-time employees.) Salaries and benefits for each of the three represented bargaining units are set forth in Memorandums of Understanding (MOUs). Pay and benefits for Management and Confidential employees are governed by a resolution of the Council and pay for part-time employees are governed by administrative policy. The City is a service organization and it is the City staff that provide services to the community. However, determining the number of employees and the salary rates of each employee is a delicate balancing act with the associated costs. The more employees the City hires, the more hours of service that can be provided to the community and the more costs the General Fund will bear. If there are too few staff, the sufficient services will not be provided to the people of Atascadero, but if the City is staff-heavy, then the City might not be able to afford other items that might be as or more important at the time. While there are some differences in benefit packages between jurisdictions, the City has historically been amongst the lowest total compensation for most positions at the City. While compensation is often not the only reason an employee chooses to work for an employer, when there are significant differences in pay, it is an important consideration. Because the cost of living is high in the Central Coast area, and neighboring jurisdictions are able to pay more, the City’s low wages can be a barrier to attracting, hiring and most importantly, retaining, professional employees. This has a large effect on City operations as vacancies lead to even lower staffing levels, inefficiencies, additional incurred costs as new employees are trained, and losses of institutional knowledge when key employees leave. Measure D-20 made large strides toward enhancing staff salaries and helping to bring them into better alignment with other agencies. However, at the same time that Atascadero voters passed Measure D-20, voters in other cities passed similar measures. Those other agencies were able to use their new sales tax measure 65% 27% 8% 2024-25 Budget by Category Employee Services Operations Other revenues toward increasing salaries at their agencies. The labor market is a dynamic environment, and while strides forward definitely help Atascadero from falling further behind, they don’t necessarily put us near the head of the pack as neighboring agencies continue to sharpen their competitive edge as well. Atascadero has always been lean on staffing levels and carefully considers adding staff only when necessary and when it makes sense in the long run. There are times when service level demand increases in the short-term, and in such cases, the City does not over-hire and instead finds alternate solutions to meet the short-term needs. Along with the number of staff and the rate of the salary schedules, the following issues also impact the costs of Employee Services. Minimum Wage California’s minimum wage has seen significant increases in recent years. The minimum wage for the City’s part-time staff in 2017 was $10.50 per hour. Since then, minimum has increase to $16.50 per hour. This is a 57% increase in costs since 2017, and definitely impacts City operations. Budgeted amouns allocated to part-time employees are based on a lump sum dollar amount versus hourly rates times the number of expected hours. Therefore, the increases in hourly wages have affected how many hours the lump sum budget will buy, or alternatively, the lump sum amount will require increases in order to provide the same number of staff hours at a higher hourly rate. Increases are difficult due to the limited resources the City has to work with, and the City continues to compete not only with other agencies for part-time help, but also with private industry. This continues impact the City’s ability to hire part-time staff to provide City services. Many of the part-time employees work in recreation-related activities where additional recovery of costs may not be the best option. CalPERS Retirement The City is enrolled in CalPERS to provide employees fixed benefit retirement plans. In 2012, the Council adopted pension reform that separates the City’s retirement benefits into three different tiers: 1) existing employees, 2) employees hired after 7/14/12, but already part of CalPERS, and 3) employees hired after 1/1/13 not previously part of CalPERS. Each tier has a related formula that is used to calculate future benefits. These changes to retirement plans are consistent with the California Public Employees’ Pension Reform Act (PEPRA). Details of each of the tiers for Safety and Miscellaneous are in the following tables: Tier 1 Tier 2 Tier 3 Hire date Prior to July 1, 2012 On or after July 1, 2012 On or after January 1, 2013 Benefit formula 3.0% @ 50 3.0% @ 55 2.7% @ 57 Benefit vesting schedule 5 years service 5 years service 5 years service Benefit payments monthly for life monthly for life monthly for life Retirement age 50 50-55 50-57 Monthly benefits, as a % of eligible compensation 3.0%2.4% to 3.0%2.0% to 2.7% Required employee contribution rates 9.00%9.00%13.75% Required employer contribution rates 27.11%22.83%13.54% Safety Plan Tier 1 Tier 2 Tier 3 Hire date Prior to July 1, 2012 On or after July 1, 2012 On or after January 1, 2013 Benefit formula 2.5% @ 55 2.0% @ 55 2.0% @ 62 Benefit vesting schedule 5 years service 5 years service 5 years service Benefit payments monthly for life monthly for life monthly for life Retirement age 50-55 50-63 52-67 Monthly benefits, as a % of eligible compensation 2.0% to 2.5%1.426% to 2.418%1.0% to 2.5% Required employee contribution rates 8.00%7.00%8.25% Required employer contribution rates 14.92%12.63%8.00% Miscellaneous Plan The calculation of the pension costs is a complicated actuarial process and involves a number of different assumptions and strategies. CalPERS Board of Administration (Board) authorizes changes to the assumptions and structural changes to risk pooling as they see appropriate to ensure the program remains properly funded. A number of changes have occurred in recent years that affect the City’s pension costs including a change in the smoothing policy, changes to the risk pools, changes to the method of allocating the pool’s unfunded liability, retiree life expectancy assumptions, investment impacts due to the state of the economy, and actual investment rates differing from assumed earnings rates. The City has two components to the CalPERS annual contributions. The first is the “normal rate”, or the cost of pension benefits for one year. CalPERS’ actuaries determine what the normal cost percentage is for each employer, and the employer pays an amount throughout the year equal to the percentage multiplied by the applicable payroll. The second component is a flat dollar amount known as the Unfunded Accrued Liability, or UAL. The UAL is also determined by CalPERS actuaries and the City pays it as a flat dollar amount at the beginning of the fiscal year. The CalPERS Board determines the discount rate for actuarial calculations. The discount rate is the assumed rate of return on investments, or essentially, interest earnings. Decreasing the rate means the Board assumes that CalPERS will earn less interest income on its investments each year. Typically, a lower discount rate is expected to reduce the large fluctuations in employer contributions. However, the process of lowering the discount increases in the costs required from employers to fund the retirement plans as less of the costs are assumed to come from investment earnings and more is expected to come directly from employers. In July 2021, a strong 21% fiscal year (2020/21) investment return automatically triggered a discount rate reduction to 6.8% under CalPERS’s Funding Risk Mitigation Policy. This Mitigation Policy was adopted by the CalPERS Board in 2015 and is triggered when investment returns during the fiscal year exceed the current target rate of return by 2 or more percentage points. When this happens, the discount rate for the Public Employees’ Retirement Fund (PERF) is automatically lowered by an amount commensurate with the excess returns. The higher the excess returns, the more the discount rate drops. The maximum amount the discount rate can be reduced in any one year is 0.25% (25 basis points). The positive returns earned from fiscal year 2020/21 helped increase PERF assets, and the overall funding status was estimated at 82%. However, the reduction in the discount rate to 6.8% dropped the funding status to 80%. In fiscal year 2021/22, CalPERS’ investment return was negative 6.1%. Between the drop of the discount rate to 6.8% in 2021 and the fiscal year 2021/22 negative return, the overall funded status of the PERF dropped to 72%. These two items will offset the positive impact to the City’s contribution rates due to CalPERS’ positive earnings from fiscal year 2020/21. In fiscal year 2022/23, the CalPERS’ investment return was 5.8%, which was a big improvement from the prior year, but was still under the new discount rate of 6.8%. The investment return in 2023/24 was 9.3%, which will help to offset only a small portion of the prior years’ poor returns. CalPERS estimates the funded level of the PERF at 75% as of June 30, 2024. The City’s normal rate (excluding any City-paid employee portion) and the annual UAL for each tier for both the Miscellaneous and Safety Pools are listed in the following charts. 23/24 24/25 25/26 26/27 27/28 28/29 29/30 30/31 31/32 Tier 1 - normal rate 14.92%14.99%15.05%14.90%14.90%14.90%14.90%14.90%14.90% Tier 2 - normal rate 12.63%12.67%12.74%12.60%12.60%12.60%12.60%12.60%12.60% Tier 3 - normal rate 8.00%8.18%8.27%8.30%8.30%8.30%8.30%8.30%8.30% Tier 1 -UAL 1,009,625$ 1,208,391$ 1,439,413$ 1,542,000$ 1,625,000$ 1,804,000$ 1,845,000$ 1,881,000$ 1,881,000$ Tier 2 - UAL -$ 6,917$ 8,354$ 8,500$ 8,500$ 8,600$ 8,700$ 8,700$ 8,700$ Tier 3 - UAL -$ 29,809$ 37,452$ 38,000$ 39,000$ 39,000$ 40,000$ 40,000$ 40,000$ 23/24 24/25 25/26 26/27 27/28 28/29 29/30 30/31 31/32 Tier 1 - normal rate 27.11%27.32%27.38%27.40%27.40%27.40%27.40%27.40%27.40% Tier 2 - normal rate 22.83%23.00%23.06%23.10%23.10%23.10%23.10%23.10%23.10% Tier 3 - normal rate 13.54%13.76%13.99%14.00%14.00%14.00%14.00%14.00%14.00% Tier 1 -UAL 1,629,826$ 1,909,492$ 1,838,902$ 1,975,000$ 2,088,000$ 2,327,000$ 2,379,000$ 2,424,000$ 2,424,000$ Tier 2 - UAL -$ 17,728$ 20,794$ 21,100$ 21,200$ 21,300$ 21,300$ 21,300$ 21,300$ Tier 3 - UAL -$ 33,775$ 39,972$ 40,000$ 42,000$ 42,000$ 42,000$ 42,000$ 42,000$ Miscellaneous Safety Vacation accruals Details on vacation and other leave accruals are discussed at length in Appendix B of this document. At this point, it is critical to simply understand that as employees utilize more of their vacation time, there are less people to accomplish the tasks for the vacationing employees. While in some cases the work could be delayed, in most cases, the work still has to get done on schedule and/or works shifts have to be covered. At the end of the day, what this really translates into is additional overtime costs and employee burnout. Overtime is an unavoidable component of spending down the vacation accrual. 21.3% -6.1% 5.8%9.3% -20.0% 0.0% 20.0% 40.0% 20/21 21/22 22/23 23/24 CalPERS Investment Returns Health Care The City has been on the offense regarding health care costs. Health care benefits are important to the well-being of the employee group. As health care costs continue to be on the rise, the City continues to search for efficient options to meet the employees’ health care needs. The health care cost trend increases in California have averaged about 8% over the last five years. The City’s costs increases have averaged less than the state average over the last five years due to some low rates negotiated recently by the City’s broker and insured experience. Increases in future years are expected to be between 7% -8% per year, consistent with market trends. Future Expectations In order to project labor costs, a spreadsheet was developed which details salary and benefits for each employee. Every employee’s expected labor costs were developed for each of the seven years. Step increases and other expected pay changes as an employee moves through his/her career were built into the projections. The projections include a cost-of-living salary increase for the period of the current negotiated Memorandums of Understanding (MOUs) 2024/25 through 2026/27. 2025/26 2026/27 Police - Corporals, Property Evidence Specialist, Lead Records Technician 2.5%2.5% Police - Officers, Sergeants, Dispatchers, Recruit, Community Services Officer 3.0%3.0% Fire - all 3.0%3.0% SEIU - all 3.0%3.0% Management, Mid-Management, and Confidential 3.0%3.0% Current MOU Salary Increases The projected General Fund Employee Service costs for the next seven years include items in the above discussion and is displayed in the following graph. The assumptions include the existing staff levels and do not include any new positions for the future so that a baseline of costs can be calculated prior to any future budget changes. $- $5,000,000 $10,000,000 $15,000,000 $20,000,000 $25,000,000 $30,000,000 $35,000,000 20 0 2 - 2 0 0 3 20 0 3 - 2 0 0 4 20 0 4 - 2 0 0 5 20 0 5 - 2 0 0 6 20 0 6 - 2 0 0 7 20 0 7 - 2 0 0 8 20 0 8 - 2 0 0 9 20 0 9 - 2 0 1 0 20 1 0 - 2 0 1 1 20 1 1 - 2 0 1 2 20 1 2 - 2 0 1 3 20 1 3 - 2 0 1 4 20 1 4 - 2 0 1 5 20 1 5 - 2 0 1 6 20 1 6 - 2 0 1 7 20 1 7 - 2 0 1 8 20 1 8 - 2 0 1 9 20 1 9 - 2 0 2 0 20 2 0 - 2 0 2 1 20 2 1 - 2 0 2 2 20 2 2 - 2 0 2 3 20 2 3 - 2 0 2 4 20 2 4 - 2 0 2 5 20 2 5 - 2 0 2 6 20 2 6 - 2 0 2 7 20 2 7 - 2 0 2 8 20 2 8 - 2 0 2 9 20 2 9 - 2 0 3 0 20 3 0 - 2 0 3 1 20 3 1 - 2 0 3 2 Employee Services (excludes Wastewater and Transit) History & Projection Operations Costs Operations Costs are the second largest component of General Fund costs. Operations Costs is a covers a large variety of costs that are necessary for day-to-day operations of providing City services to the community. Some costs are common to all departments, and some costs are specific to one or a few departments and while costs for all operations continue to rise with inflation, there are subsets of costs that rise at accelerated rates. Each year as the budget is being prepared, a target is established for the operations category. Even with some expenses increasing at rapid rates, departments were asked to target either very minimal increases, no increases, or even decreases in each of the last ten budget cycles. These minor escalations (and the reductions) in operations were effective in closing the deficit gaps in the light revenue years to an amount that was consistent with Council’s strategic plan. Certainly, these cuts were not easy, but in the short term were achievable. As the cost of doing business continues to rise, departments will need additional increases in order to sustain service levels in the long run. Targeted operating cost increases averaged 1% per budget cycle for the last ten cycles (or twenty years). According to the US Bureau of Labor Statistics, inflation increased about 64% during that same twenty-year period. $- $2,000,000 $4,000,000 $6,000,000 $8,000,000 $10,000,000 $12,000,000 General Fund Operations History & Projection 65% 27% 8% 2024-25 Budget by Category Employee Services Operations Other