texas pension review board
TRANSCRIPT
LEGISLATIVE APPROPRIATIONS REQUEST
For Fiscal Years 2014 and 2015
Submitted to the
Governor's Office of Budget, Planning and Policy and the Legislative Budget Office
by
Texas Pension Review Board Board Member Dates of Term Hometown RICHARD E. MCELREATH , Chair (2007-2013) Amarillo PAUL A. BRADEN, Vice Chair (2009-2015) El Paso J. ROBERT MASSENGALE (2008-2011) Lubbock NORMAN W. PARRISH (2007-2013) The Woodlands ANDREW W. CABLE (2009-2013) Wimberley LESLIE GRECO-POOL (2011-2015) Trophy Club WAYNE R. ROBERTS (2009-2015) Houston REPRESENTATIVE VICKI TRUITT (2008-2011) Southlake SENATOR JOHN H. WHITMIRE (2001-2005) Houston
Date of Submission: August 9, 2012
Table of Contents Legislative Appropriations Request Fiscal Years 2014-2015 Administrator’s Statement Organizational Chart Certificate of Dual Submission Summary of Request
Summary of Base Request by Strategy 2.A. Page 1 Summary of Base Request by Method of Finance 2.B. Page 1 Summary of Base Request by Objects of Expense 2.C. Page 1 Summary of Base Request Objective Outcomes 2.D. Page 1 Summary of Exceptional Items Request 2.E. Page 1 Summary of Total Request by Strategy 2.F. Page 1 Summary of Total Request Objective Outcomes 2.G. Page 1
Strategy Request Strategy 1: Retirement System Reviews 3.A. Page 1 Strategy 2: Technical Assistance and Education 3.A. Page 4 Exceptional Item Request
Exceptional Items Request Schedule 4.A. Page 1 Exceptional Items Strategy Allocation Schedule 4.B. Page 1 Exceptional Items Strategy Request 4.C. Page 1
Capital Budget Schedules Capital Budget Project Schedule N/A Capital Budget Allocation to Strategies N/A Supporting Schedules: General Revenue & General Revenue Dedicated Baseline Report
Historically Underutilized Business Supporting Schedule 6.A. Page Estimated Revenue Collections Supporting Schedule 6.E. Page 1 10 Percent Biennial Base Reduction Options Schedule 6.I. Page 1
Administrative and Support Cost: Indirect Administrative and Support Cost 7.A. Page 1 Direct Administrative and Support Cost 7.B. Page 1
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ADMINISTRATOR'S STATEMENT
Texas Pension Review Board
Member Name/Term and Hometown
----------------------------------------------------------------
RICHARD E.MCELREATH, Chair (2007-2013) Amarillo
PAUL A.BRADEN, Vice Chair (2009-2015) El Paso
ANDREW W.CABLE (2009-2013) Wimberley
LESLIE GRECO-POOL (2011-2015) Trophy Club
J.ROBERT MASSENGALE (2008-2017) Lubbock
NORMAN W.PARRISH (2007-2013) The Woodlands
WAYNE R.ROBERTS (2009-2015) Houston
REPRESENTATIVE VICKI TRUITT (2008-2011) Southlake
SENATOR JOHN H. WHITMIRE (2001-2005) Houston
The State Pension Review Board (PRB) was established by the 66th Legislature effective September 1, 1979 as the oversight body for Texas state and local public
retirement systems. There are about 2.3 million members in some 360 public retirement systems registered with the PRB with assets of nearly $200 billion dollars. The
duties of the PRB have not changed since 1979, with the agency mandated to monitor the public pension system, investigate issues affecting actuarial soundness,
provide technical assistance, offer policy and legislative advice, hold educational training seminars, and produce actuarial impact statements for pending legislation.
In the last two years, the agency has undertaken several projects to ensure that it fulfills its duties. The PRB has prepared several reports on federal issues impacting
public retirement systems, including the impact of Dodd-Frank, the SEC’s Pay-to-Play and Municipal Advisor rules, the recent GASB proposals, and the Public Employee
Pension Transparency Act. The agency has completed two research papers, part of a series of “white papers” on important public pension topics. The first provides an
in-depth look at defined benefit, defined contribution, and alternative retirement plans. The second examines the notion of financial economics and its role in public
pension plans. The agency is currently working with the Comptroller of Public Accounts on a joint partnership to enhance the amount of public pension information
available online. By utilizing existing technology via the Comptroller’s website, the PRB will upload significant amount of financial and actuarial information online. As
part of the educational outreach program, the agency provides electronic weekly news clips service to its constituents and other interested parties to expedite tracking
and compiling of state, national, and local pension-related issues in a timely manner.
Though the agency has existed since 1979, it did not see an increase in budget or staffing until fiscal year 2006. Through its limited number of employees, the PRB tries to
increase staff expertise to provide more complex analysis of plans correlating to the demographic shifts in the state and investment complexity of pension funds. As
issues involving public pensions grow more complex, the PRB staff provides a high quality service to the legislature, the governor, public retirement systems, their
administrators, trustees, and members.
In light of the aforementioned work of the agency, the Board requests five exceptional items in this year’s appropriations request.
The first request is for additional funds to host quarterly regional seminars throughout the state. One of the agency’s core duties is education, and as recommended in the
Sunset Staff Report, the agency should develop and provide training that is accessible to all public retirement systems. Funding would provide for one regional seminar
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ADMINISTRATOR'S STATEMENT
each quarter, at different locations across Texas. The agency would also make the presentations from the regional seminars available online through our website. Topics
will include: asset allocation, actuarial training, fiduciary duties, developing investment policies, due diligence and creating request for proposals, plan design, federal and
state law updates, GASB and pension accounting, and retiree preparation.
The second request is for rider language authorizing the agency to collect funds for pension training conferences, seminars, and meetings. In recent years limited funding
for annual and regional training sessions has become a concern. The board recently authorized sponsorship of portions of the seminar such as paying for a
coffee/refreshment break with minor promotional recognition (acknowledgment in meeting materials). This policy is similar to that adopted by many professional
organizations such as the National Association of State Budget Officers (NASBO). Although providing some relief, this policy is not as flexible as authorization to
receive gifts or grants to assist in putting on the training meetings. Therefore, we request legislative authority to accept gifts and grants specifically for training
purposes. In addition, authority is requested to expend unused portions of any gifts and grants donated for one conference for use at other similar training activities.
This language is similar to that provided to other agencies through rider authorization, e.g., the Texas Higher Education Coordinating Board.
The third request concerns additional funds for the agency to attract and retain talented staff. For several years, the PRB has not had appropriate funding to retain
talented employees and as a result, several talented individuals have left the agency for more lucrative offers. Given current funding constraints, the PRB has been unable
to match or partially match these offers to retain strong personnel. For instance, we have had a deputy executive director, staff actuary, two financial analysts, and two
research specialists hired away from us. The responsibilities of the staff of the PRB are highly specialized and require considerable training, thus losing trained staff due
to salary constraints and needing to train new ones further hampers our ability to meet legislative mandates.
The fourth request is to restore the agency budget to its baseline prior to the general revenue cuts of the 2010-2011 biennium and to offset the one percent health care
assessment required of state agencies for the 2012-2013 biennium. Small reductions in the agency baseline, either through GR cuts or having to cover health care costs,
pose a real challenge to the agency. The result of the baseline reductions is the inability or significant time delay in filling vacant positions as well as keeping the staff
level one FTE below what is authorized in the GAA.
The fifth request, made specifically by our board members, is to continue the effort made by the 82nd Legislature to raise the salary of the executive director to a level
comparable to similar positions in state government. Although the board greatly appreciates the Legislature’s partially funding this request in the current biennium, we
request finishing this process in 2014-15. The requested increase would allow for the executive director’s salary to be comparable to other executive director’s salaries in
agencies with similar mission’s and staff sizes. The State Auditor in his July 2010 report “A Classification Study of Exempt Positions” listed the then current market value
of the position at $113,306, which reflects a gap of approximately $33,000 between the current authorized salary for the position and its corresponding market value. In
light of the current economic conditions, but with consideration that the board needs the ability to attract and retain talent to the executive director position, the board
requests a salary increase from $80,000 annually to $110,000 annually. This adjustment would reflect the technical competency needed to achieve the agency’s mandated
requirements at a level of quality its constituencies have come to expect. Additionally, the board requests that the authority in the executive director’s salary be
accompanied by a corresponding increase in the agency’s total appropriation for FY 2014-2015. In the board’s words: “The board is committed only to providing salary
increases to the incumbent executive director based on merit; any future increases must be based upon a thorough professional evaluation of the incumbent’s work
product in relation to stipulated high board expectations.
The PRB is a small agency with approximately 90% of the appropriations dedicated to staff salaries. Any additional cuts imposed would leave the agency in a precarious
position because it would have to reduce personnel, real people, not just authorized positions, which would directly affect service delivery. The exercise of preparing the
10% general revenue-related base reduction was a sobering challenge. Since the agency is already grappling with a limited budget, the inability to hold regional
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ADMINISTRATOR'S STATEMENT
educational seminars, little support for miscellaneous operating expenses, another 10% budget reduction appears likely to erode the agency’s ability to accomplish its
fundamental purpose of monitoring Texas public retirement systems on behalf of the Governor and Legislature as their tool to ensure the systems’ financial viability and
to protect the retirements of millions of Texans who are or have contributed into those systems.
We request base funding as well as the few noted exceptional items in order to maintain and improve every service we provide. We believe the State Pension Review
Board has been a responsible model for pension oversight, and we hope to be able to continue as a leader in that field.
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Texas Pension Review BoardOrganizational Chart
Updated March 2012The agency is allowed to have up to 13 FTEs. Due to budgetary constraints there is a Program Specialist position vacant that is not being shown.
Operational Analytical
Governor (Rick Perry)
January 2014
Speaker of the House of
Representatives (Joe Straus)
January 2013
Chair Richard
McElreathSecurities Investment
Term Expires01/31/2013
Andrew CableActive
MemberTerm Expires01/31/2013
Leslie Greco-Pool
SecuritiesInvestment
Term Expires01/31/2015
Vice ChairPaul BradenPension Law
Term Expires
01/31/2015
J. Robert Massengale
Retired Member
Term Expires01/31/2017
NormanParrish
Actuarial Science
Term Expires 01/31/2013
Wayne Roberts
Governmental Finance
Term Expires01/31/2015
Vicki TruittRepresentativeTerm Expires01/31/2011
John WhitmireSenator
Term Expires01/31/2005
State Pension Review Board
Executive Director(Christopher Hanson)
Administrative Assistant
(Madalene Allen)
Actuary(Daniel Moore)
Staff Services Officer(Lynda Baker)
Policy Division
Research Specialist(Emily Brandt)
Actuarial Division
Investment Division
Financial Analyst(Joey Evans)
ResearchSpecialist
(Steve Crone)
ResearchSpecialist
(Ashley Rendon)
Policy Analyst(Anumeha)
Lieutenant Governor(David Dewhurst)
January 2014
Data Division
Investment Analyst(Nick Ballard)
Administrative
Administrative Assistant
(Cathy Overton-Johns)Accountant
(John Perryman)
Accounting/Human Resources
Automated Budget and Evaluation System of Texas (ABEST)
Goal / Objective / STRATEGY Exp 2011 Est 2012 Bud 2013 Req 2014 Req 2015
83rd Regular Session, Agency Submission, Version 1
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2.A. SUMMARY OF BASE REQUEST BY STRATEGY
1 Ensure Actuarially Sound Retirement Systems
1 Determine Actuarial Condition of All Public Retirement Systems
347,001347,002347,001347,709377,8051 RETIREMENT SYSTEM REVIEWS
2 Respond to Requests From Legislature and Public Retirement Systems
357,000357,000357,000347,525289,4441 TECHNICAL ASSISTANCE AND EDUCATION
$667,249TOTAL, GOAL 1 $695,234 $704,001 $704,002 $704,001
$667,249TOTAL, AGENCY STRATEGY REQUEST $695,234 $704,001 $704,002 $704,001
GRAND TOTAL, AGENCY REQUEST
TOTAL, AGENCY RIDER APPROPRIATIONS REQUEST* $0 $0
$704,001$704,002$667,249 $695,234 $704,001
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2.A. SUMMARY OF BASE REQUEST BY STRATEGY
METHOD OF FINANCING:
General Revenue Funds:
1 General Revenue Fund 695,234 694,001 694,002 694,001659,649
$695,234 $694,001 $694,002 $694,001$659,649SUBTOTAL
Other Funds:
666 Appropriated Receipts 0 10,000 10,000 10,0007,600
$0 $10,000 $10,000 $10,000$7,600SUBTOTAL
TOTAL, METHOD OF FINANCING $667,249 $695,234 $704,001 $704,002 $704,001
*Rider appropriations for the historical years are included in the strategy amounts.
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Pension Review Board
Automated Budget and Evaluation System of Texas (ABEST)
Agency code: Agency name:338
METHOD OF FINANCING Exp 2011 Est 2012 Bud 2013 Req 2014 Req 2015
83rd Regular Session, Agency Submission, Version 1
2.B. SUMMARY OF BASE REQUEST BY METHOD OF FINANCE 8/9/2012 8:48:40AM
GENERAL REVENUE
1 General Revenue Fund
REGULAR APPROPRIATIONS
Regular Appropriations from MOF Table (2010-11 GAA)
$692,968 $0 $0 $0 $0
Regular Appropriations from MOF Table (2012-13 GAA)
$0 $694,002 $694,001 $694,002 $694,001
RIDER APPROPRIATION
Article IX, Sec. 18.15, Payments to DIR (2012-13 Biennium)
$0 $1,232 $0 $0 $0
Comments: Rebates received from DIR.
SUPPLEMENTAL, SPECIAL OR EMERGENCY APPROPRIATIONS
HB 4, 82nd Leg, Regular Session, Sec 1(a) General Revenue Reductions.
$(42,189) $0 $0 $0 $0
LAPSED APPROPRIATIONS
Regular Appropriations from MOF Table (2010-11 GAA)
$(2,000) $0 $0 $0 $0
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Pension Review Board
Automated Budget and Evaluation System of Texas (ABEST)
Agency code: Agency name:338
METHOD OF FINANCING Exp 2011 Est 2012 Bud 2013 Req 2014 Req 2015
83rd Regular Session, Agency Submission, Version 1
2.B. SUMMARY OF BASE REQUEST BY METHOD OF FINANCE 8/9/2012 8:48:54AM
GENERAL REVENUE
Comments: The agency had purchased some supplies that was anticipated to
arrive during FY11 but came in after the fiscal year that had to be paid out of FY
2012 budget.
UNEXPENDED BALANCES AUTHORITY
Art IX, Sec 14.03(j), Capital Budget UB (2010-11 GAA)
$10,870 $0 $0 $0 $0
General Revenue FundTOTAL,
$694,002 $694,001$694,001$695,234$659,649
$659,649
TOTAL, ALL GENERAL REVENUE
$695,234 $694,001 $694,002 $694,001
OTHER FUNDS
666 Appropriated Receipts
REGULAR APPROPRIATIONS
Regular Appropriations from MOF Table (2010-11 GAA)
$10,000 $0 $0 $0 $0
Regular Appropriations from MOF Table (2012-13 GAA)
$0 $10,000 $10,000 $10,000 $10,000
Comments: Conference was moved from June to October. No conference for
FY12.
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Pension Review Board
Automated Budget and Evaluation System of Texas (ABEST)
Agency code: Agency name:338
METHOD OF FINANCING Exp 2011 Est 2012 Bud 2013 Req 2014 Req 2015
83rd Regular Session, Agency Submission, Version 1
2.B. SUMMARY OF BASE REQUEST BY METHOD OF FINANCE 8/9/2012 8:48:54AM
OTHER FUNDS
BASE ADJUSTMENT
Regular Appropriations from MOF Table (2010-11 GAA)
$(2,400) $0 $0 $0 $0
Regular Appropriations from MOF Table (2012-13 GAA)
$0 $(10,000) $0 $0 $0
Comments: Conference was moved from June to October. No conference for
FY12.
Appropriated ReceiptsTOTAL,
$10,000 $10,000$10,000$0$7,600
$7,600
TOTAL, ALL OTHER FUNDS
$0 $10,000 $10,000 $10,000
$667,249GRAND TOTAL $695,234 $704,001 $704,002 $704,001
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Pension Review Board
Automated Budget and Evaluation System of Texas (ABEST)
Agency code: Agency name:338
METHOD OF FINANCING Exp 2011 Est 2012 Bud 2013 Req 2014 Req 2015
83rd Regular Session, Agency Submission, Version 1
2.B. SUMMARY OF BASE REQUEST BY METHOD OF FINANCE 8/9/2012 8:48:54AM
FULL-TIME-EQUIVALENT POSITIONS
REGULAR APPROPRIATIONS
Regular Appropriations from MOF Table
(2010-11 GAA)
13.0 0.0 0.0 0.00.0
Regular Appropriations from MOF Table
(2012-13 GAA)
0.0 13.0 12.0 12.013.0
UNAUTHORIZED NUMBER OVER (BELOW) CAP
Unuauthorized Number Below Cap (2.5) (1.0) 0.0 0.0(1.3)
10.5 11.7 12.0 12.0 12.0TOTAL, ADJUSTED FTES
0.0 0.0 0.0 0.0 0.0NUMBER OF 100% FEDERALLY FUNDED
FTEs
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83rd Regular Session, Agency Submission, Version 1
2.C. SUMMARY OF BASE REQUEST BY OBJECT OF EXPENSE 8/9/2012 8:50:45AM
338 Pension Review Board
$531,466 $599,774 $618,835 $618,835 $618,8351001 SALARIES AND WAGES
$25,001 $10,080 $15,200 $15,200 $15,2001002 OTHER PERSONNEL COSTS
$20,839 $13,705 $12,500 $12,500 $12,5002001 PROFESSIONAL FEES AND SERVICES
$6,233 $2,819 $3,000 $3,000 $3,0002003 CONSUMABLE SUPPLIES
$10,707 $8,053 $15,000 $15,000 $15,0002005 TRAVEL
$724 $1,079 $1,000 $1,000 $1,0002006 RENT - BUILDING
$19,014 $14,989 $15,000 $15,000 $15,0002007 RENT - MACHINE AND OTHER
$53,265 $44,735 $23,466 $23,467 $23,4662009 OTHER OPERATING EXPENSE
OOE Total (Excluding Riders) $667,249 $695,234 $704,001 $704,002 $704,001
OOE Total (Riders)
Grand Total $667,249 $695,234 $704,001 $704,002 $704,001
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Goal/ Objective / Outcome
83rd Regular Session, Agency Submission, Version 1
Exp 2011 Est 2012 Bud 2013 BL 2014 BL 2015
2.D. SUMMARY OF BASE REQUEST OBJECTIVE OUTCOMES 8/9/2012 8:51:21AM
1 Ensure Actuarially Sound Retirement Systems
1 Determine Actuarial Condition of All Public Retirement Systems
1 Percent of Systems That Are Actuarially SoundKEY
97.11 98.00 98.00 98.00 98.00% % % % %
2 Percent of Systems in Compliance with Reporting Requirements
50.69 90.00 90.00 90.00 90.00% % % % %
2 Respond to Requests From Legislature and Public Retirement Systems
1 % of Legislative and System Requests Answered
100.00 100.00 100.00 100.00 100.00% % % % %
2 % of Seminar Attendees Satisfied
100.00 0.00 90.00 90.00 90.00% % % % %
3 % Admins, Trstees, & Mbrs of Tx Pub Pen Funds Satisfied w/Educ SvcsKEY
100.00 94.00 98.00 98.00 98.00% % % % %
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Priority GR/GR Dedicated All Funds GR Dedicated All FundsFTEs FTEs All FundsGR DedicatedItem
2014 2015 Biennium
GR and GR andGR and
Agency code: 338 Agency name: Pension Review Board
83rd Regular Session, Agency Submission, Version 1
Automated Budget and Evaluation System of Texas (ABEST)
DATE: 8/9/2012
TIME : 8:52:01AM
2.E. SUMMARY OF EXCEPTIONAL ITEMS REQUEST
1 Regional Educational Seminars $12,000 $12,000 $12,000 0.00.0 $24,000 $24,000$12,000
2 Rider Language to Collect Funds $0 $0 $0 0.00.0 $0 $0$0
3 Funding for Staff Salaries $13,500 $13,500 $13,500 0.00.0 $27,000 $27,000$13,500
4 Restoration of Reduced Agency Funds $16,000 $16,000 $16,000 0.00.0 $32,000 $32,000$16,000
5 Executive Director Salary $30,000 $30,000 $30,000 0.00.0 $60,000 $60,000$30,000
$71,500 $71,500 0.0 $71,500 $71,500 0.0 $143,000 $143,000Total, Exceptional Items Request
Method of Financing
General Revenue $71,500 $71,500$71,500 $71,500 $143,000$143,000
General Revenue - Dedicated
Federal Funds
Other Funds
$71,500 $71,500 $71,500 $71,500 $143,000$143,000
Full Time Equivalent Positions 0.0 0.0
0.0 0.0Number of 100% Federally Funded FTEs
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Automated Budget and Evaluation System of Texas (ABEST)TIME : 8:52:30AM
DATE : 8/9/2012
83rd Regular Session, Agency Submission, Version 1
2.F. SUMMARY OF TOTAL REQUEST BY STRATEGY
Agency code: 338 Agency name: Pension Review Board
Base Base Exceptional Exceptional Total Request Total Request
2014 2015 2014 2015 2014 2015Goal/Objective/STRATEGY
1 Ensure Actuarially Sound Retirement Systems
1 Determine Actuarial Condition of All Public Retirement Systems
$376,751$376,752$29,750$29,750$347,002 $347,0011 RETIREMENT SYSTEM REVIEWS
2 Respond to Requests From Legislature and Public Retirement System
398,750398,75041,75041,750357,000 357,0001 TECHNICAL ASSISTANCE AND EDUCATION
$704,002 $704,001 $71,500 $71,500 $775,502 $775,501TOTAL, GOAL 1
$704,001 $71,500 $71,500 $775,502 $775,501$704,002TOTAL, AGENCY
STRATEGY REQUEST
TOTAL, AGENCY RIDER
APPROPRIATIONS REQUEST
$704,002 $704,001 $71,500 $71,500 $775,502 $775,501GRAND TOTAL, AGENCY REQUEST
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DATE : 8/9/2012
83rd Regular Session, Agency Submission, Version 1
2.F. SUMMARY OF TOTAL REQUEST BY STRATEGY
Agency code: 338 Agency name: Pension Review Board
Base Base Exceptional Exceptional Total Request Total Request
2014 2015 2014 2015 2014 2015Goal/Objective/STRATEGY
General Revenue Funds:
$694,002 $694,001 $71,500 $71,5001 General Revenue Fund $765,502 $765,501
$694,002 $694,001 $71,500 $71,500 $765,502 $765,501
Other Funds:
10,000 10,000 0 0666 Appropriated Receipts 10,000 10,000
$10,000 $10,000 $0 $0 $10,000 $10,000
$704,002 $704,001 $71,500 $71,500TOTAL, METHOD OF FINANCING $775,502 $775,501
12.0 12.0 0.0 0.0 12.0 12.0FULL TIME EQUIVALENT POSITIONS
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Date : 8/9/2012
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Goal/ Objective / Outcome
83rd Regular Session, Agency Submission, Version 1
BL
2014
BL
2015
Excp
2014
Excp
2015
Total
Request
2015
Total
Request
2014
2.G. SUMMARY OF TOTAL REQUEST OBJECTIVE OUTCOMES
1 Ensure Actuarially Sound Retirement Systems
1 Determine Actuarial Condition of All Public Retirement Systems
KEY 1 Percent of Systems That Are Actuarially Sound
%98.00 98.00% 98.00 98.00% %
2 Percent of Systems in Compliance with Reporting Requirements
%90.00 90.00% 90.00 90.00% %
2 Respond to Requests From Legislature and Public Retirement Systems
1 % of Legislative and System Requests Answered
%100.00 100.00% 100.00 100.00% %
2 % of Seminar Attendees Satisfied
%90.00 90.00% 90.00 90.00% %
KEY 3 % Admins, Trstees, & Mbrs of Tx Pub Pen Funds Satisfied w/Educ Svcs
%98.00 98.00% 98.00 98.00% %
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8/9/2012 8:53:49AM3.A. STRATEGY REQUEST
1STRATEGY:
1 Determine Actuarial Condition of All Public Retirement SystemsOBJECTIVE:
1 Ensure Actuarially Sound Retirement SystemsGOAL:
CODE DESCRIPTION
05 A.2 B.3
Statewide Goal/Benchmark:
Service Categories:
Service: Age:Income:
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Exp 2011 Est 2012 Bud 2013 BL 2014 BL 2015
338 Pension Review Board
Conduct Reviews of Texas Public Retirement Systems.
Output Measures:
107.00 200.00 100.00 100.00 100.001 Number of Compliance Actions Initiated
629.00 600.00 600.00 600.00 600.002 Number of Reviews CompletedKEY
Efficiency Measures:
33.64 60.00 60.00 60.00 60.00 %1 % Reports Filed within Time Frames After Non-compliance
Notice %%%%
Explanatory/Input Measures:
361.00 353.00 360.00 360.00 360.001 # Systems Registered with SPRB
180.68 199.60 170.00 200.00 200.002 Est Value of Investments Owned by Texas Retirement
Systems (Billions)
Objects of Expense:
1001 SALARIES AND WAGES $325,000$325,000$325,000$303,782 $325,660
1002 OTHER PERSONNEL COSTS $8,000$8,000$8,000$16,081 $9,580
2001 PROFESSIONAL FEES AND SERVICES $500$500$500$20,839 $1,230
2003 CONSUMABLE SUPPLIES $1,000$1,000$1,000$640 $1,321
2005 TRAVEL $7,000$7,000$7,000$603 $4,843
2006 RENT - BUILDING $500$500$500$0 $202
2007 RENT - MACHINE AND OTHER $2,000$2,000$2,000$14,080 $770
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8/9/2012 8:53:53AM3.A. STRATEGY REQUEST
1STRATEGY:
1 Determine Actuarial Condition of All Public Retirement SystemsOBJECTIVE:
1 Ensure Actuarially Sound Retirement SystemsGOAL:
CODE DESCRIPTION
05 A.2 B.3
Statewide Goal/Benchmark:
Service Categories:
Service: Age:Income:
8 9
Exp 2011 Est 2012 Bud 2013 BL 2014 BL 2015
338 Pension Review Board
Conduct Reviews of Texas Public Retirement Systems.
2009 OTHER OPERATING EXPENSE $3,001$3,002$3,001$21,780 $4,103
$347,709$377,805TOTAL, OBJECT OF EXPENSE $347,002 $347,001$347,001
Method of Financing:
General Revenue Fund1 $377,805 $347,709 $347,001 $347,002 $347,001
$347,709$377,805SUBTOTAL, MOF (GENERAL REVENUE FUNDS) $347,002 $347,001$347,001
TOTAL, METHOD OF FINANCE (INCLUDING RIDERS)
$377,805 $347,709 $347,001
$347,002 $347,001
FULL TIME EQUIVALENT POSITIONS: 6.0 6.0 6.0 6.0 6.0
TOTAL, METHOD OF FINANCE (EXCLUDING RIDERS) $347,001$347,002
The agency is mandated by Statute (Chapter 801, Government Code) to conduct a continuing review of Texas public retirement systems and to identify and study potential
problems affecting the systems. The agency will gather and analyze a substantial amount of financial and actuarial data on all public retirement systems in the state and will
make recommendations and provide technical assistance as needed. These efforts contribute directly to the statewide goal to support effective and efficient state
government operations.
STRATEGY DESCRIPTION AND JUSTIFICATION:
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Automated Budget and Evaluation System of Texas (ABEST)
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8/9/2012 8:53:53AM3.A. STRATEGY REQUEST
1STRATEGY:
1 Determine Actuarial Condition of All Public Retirement SystemsOBJECTIVE:
1 Ensure Actuarially Sound Retirement SystemsGOAL:
CODE DESCRIPTION
05 A.2 B.3
Statewide Goal/Benchmark:
Service Categories:
Service: Age:Income:
8 9
Exp 2011 Est 2012 Bud 2013 BL 2014 BL 2015
338 Pension Review Board
Conduct Reviews of Texas Public Retirement Systems.
In order to improve public knowledge and promote transparency, the agency is partnering with the Comptroller of Public Accounts to post searchable pension information
on Comptroller's “Window on State Government” website. Additionally, the agency will be creating Webinars and continually expanding and improving its website to
provide educational services to its constituents in a cost efficient manner.
Note: The estimated value for investments owned by Texas public retirement systems is calculated using the total net market value of assets.
EXTERNAL/INTERNAL FACTORS IMPACTING STRATEGY:
Page 3 of 7
Automated Budget and Evaluation System of Texas (ABEST)
83rd Regular Session, Agency Submission, Version 1
8/9/2012 8:53:53AM3.A. STRATEGY REQUEST
1STRATEGY:
2 Respond to Requests From Legislature and Public Retirement SystemsOBJECTIVE:
1 Ensure Actuarially Sound Retirement SystemsGOAL:
CODE DESCRIPTION
05 A.2 B.3
Statewide Goal/Benchmark:
Service Categories:
Service: Age:Income:
8 9
Exp 2011 Est 2012 Bud 2013 BL 2014 BL 2015
338 Pension Review Board
Provide Technical Assistance; Issue Impact Statements; Educate
Output Measures:
56.00 0.00 100.00 0.00 100.001 Number of Impact Statements Issued
73.00 0.00 115.00 115.00 115.002 Number of Persons Participating in Annual Public Pension
Seminar
22.00 0.00 0.00 0.00 0.003 Number of Persons Participating in Regional Public Pension
Seminars
128.00 90.00 125.00 90.00 125.004 Number of Technical Assistance Reports Provided by StaffKEY
0.00 100.00 150.00 100.00 150.005 Number of Responses to Requests for Technical
Assistance
Objects of Expense:
1001 SALARIES AND WAGES $293,835$293,835$293,835$227,684 $274,114
1002 OTHER PERSONNEL COSTS $7,200$7,200$7,200$8,920 $500
2001 PROFESSIONAL FEES AND SERVICES $12,000$12,000$12,000$0 $12,475
2003 CONSUMABLE SUPPLIES $2,000$2,000$2,000$5,593 $1,498
2005 TRAVEL $8,000$8,000$8,000$10,104 $3,210
2006 RENT - BUILDING $500$500$500$724 $877
2007 RENT - MACHINE AND OTHER $13,000$13,000$13,000$4,934 $14,219
2009 OTHER OPERATING EXPENSE $20,465$20,465$20,465$31,485 $40,632
Page 4 of 7
Automated Budget and Evaluation System of Texas (ABEST)
83rd Regular Session, Agency Submission, Version 1
8/9/2012 8:53:53AM3.A. STRATEGY REQUEST
1STRATEGY:
2 Respond to Requests From Legislature and Public Retirement SystemsOBJECTIVE:
1 Ensure Actuarially Sound Retirement SystemsGOAL:
CODE DESCRIPTION
05 A.2 B.3
Statewide Goal/Benchmark:
Service Categories:
Service: Age:Income:
8 9
Exp 2011 Est 2012 Bud 2013 BL 2014 BL 2015
338 Pension Review Board
Provide Technical Assistance; Issue Impact Statements; Educate
$347,525$289,444TOTAL, OBJECT OF EXPENSE $357,000 $357,000$357,000
Method of Financing:
General Revenue Fund1 $281,844 $347,525 $347,000 $347,000 $347,000
$347,525$281,844SUBTOTAL, MOF (GENERAL REVENUE FUNDS) $347,000 $347,000$347,000
Method of Financing:
666 Appropriated Receipts $7,600 $0 $10,000 $10,000 $10,000
$0$7,600SUBTOTAL, MOF (OTHER FUNDS) $10,000 $10,000$10,000
TOTAL, METHOD OF FINANCE (INCLUDING RIDERS)
$289,444 $347,525 $357,000
$357,000 $357,000
FULL TIME EQUIVALENT POSITIONS: 4.5 5.7 6.0 6.0 6.0
TOTAL, METHOD OF FINANCE (EXCLUDING RIDERS) $357,000$357,000
STRATEGY DESCRIPTION AND JUSTIFICATION:
Page 5 of 7
Automated Budget and Evaluation System of Texas (ABEST)
83rd Regular Session, Agency Submission, Version 1
8/9/2012 8:53:53AM3.A. STRATEGY REQUEST
1STRATEGY:
2 Respond to Requests From Legislature and Public Retirement SystemsOBJECTIVE:
1 Ensure Actuarially Sound Retirement SystemsGOAL:
CODE DESCRIPTION
05 A.2 B.3
Statewide Goal/Benchmark:
Service Categories:
Service: Age:Income:
8 9
Exp 2011 Est 2012 Bud 2013 BL 2014 BL 2015
338 Pension Review Board
Provide Technical Assistance; Issue Impact Statements; Educate
Chapter 801, Government Code, mandates the Pension Review Board to provide information and technical assistance on pension planning to public retirement systems and
to recommend policies, practices, and legislation to the retirement systems and appropriate governmental entities. The PRB statute and House and Senate Rules require that
an actuarial impact statement be attached to all pension legislation prior to committee hearings. The agency will continue to serve as a central source of information on
developments in the field of public pensions.
As pension plan administrators face increasing pressure to meet their funding requirements, it becomes even more important that the Pension Review Board stay abreast of
investment options and funding mechanisms in order to provide the technical support these plans require.
With recent market conditions coupled with budget deficits across the nation, public pension issues have grown in their importance and effect on the general taxpaying
public. Many pension administrators and public officials are grappling with serious funding problems that threaten the fiscal health of public pension plans. Given the large
amount of public money involved, these factors have increased the need to respond to problems and issues in a timely and efficient manner, keep the Legislature and the
public informed, as well as provide assistance to the administrators and Board members of actuarially unsound plans.
EXTERNAL/INTERNAL FACTORS IMPACTING STRATEGY:
Page 6 of 7
Automated Budget and Evaluation System of Texas (ABEST)
83rd Regular Session, Agency Submission, Version 1
8/9/2012 8:53:53AM3.A. STRATEGY REQUEST
$704,001$695,234$667,249METHODS OF FINANCE (EXCLUDING RIDERS):
$704,001$704,002$704,001$695,234$667,249OBJECTS OF EXPENSE:
$704,001$704,002
FULL TIME EQUIVALENT POSITIONS:
SUMMARY TOTALS:
METHODS OF FINANCE (INCLUDING RIDERS): $704,002 $704,001
12.012.012.011.710.5
Page 7 of 7
338
Excp 2014 Excp 2015
Pension Review Board
CODE DESCRIPTION
Agency code: Agency name:
8/9/2012DATE:
TIME: 8:54:12AM
Automated Budget and Evaluation System of Texas (ABEST)
83rd Regular Session, Agency Submission, Version 1
4.A. EXCEPTIONAL ITEM REQUEST SCHEDULE
Item Name: Regional Educational Seminars
Item Priority: 101-02-01 Provide Technical Assistance; Issue Impact Statements; EducateIncludes Funding for the Following Strategy or Strategies:
OBJECTS OF EXPENSE:
CONSUMABLE SUPPLIES2003 500 500TRAVEL2005 11,000 11,000OTHER OPERATING EXPENSE2009 500 500
TOTAL, OBJECT OF EXPENSE $12,000 $12,000
METHOD OF FINANCING:
1 General Revenue Fund 12,000 12,000
$12,000 $12,000TOTAL, METHOD OF FINANCING
DESCRIPTION / JUSTIFICATION:
The amount of this item is $24,000. The PRB requests additional funds to host quarterly regional seminars throughout the state. One of the agencies core duties involves
education, and as recommended in the Sunset Staff Report, the agency should develop and provide training that is accessible to all public retirement systems. Funding would
provide for one regional seminar each quarter, at different locations across the state. The agency would also make the presentations from the regional seminars available
online through the agency website. Topics will include: asset allocation, actuarial training, fiduciary duties, developing investment policies, due diligence and creating request
for proposals, plan design, federal and state law updates, GASB and pension accounting, and retiree preparation.
EXTERNAL/INTERNAL FACTORS:
Schedule 4.A Page 1 of 5
338
Excp 2014 Excp 2015
Pension Review Board
CODE DESCRIPTION
Agency code: Agency name:
8/9/2012DATE:
TIME: 8:54:18AM
Automated Budget and Evaluation System of Texas (ABEST)
83rd Regular Session, Agency Submission, Version 1
4.A. EXCEPTIONAL ITEM REQUEST SCHEDULE
Item Name: Rider Language for the Agency to Collect Funds for Pension Training Conferences, Seminars, and Meetings
Item Priority: 201-02-01 Provide Technical Assistance; Issue Impact Statements; EducateIncludes Funding for the Following Strategy or Strategies:
OBJECTS OF EXPENSE:
CONSUMABLE SUPPLIES2003 0 0
TOTAL, OBJECT OF EXPENSE $0 $0
METHOD OF FINANCING:
1 General Revenue Fund 0 0
$0 $0TOTAL, METHOD OF FINANCING
DESCRIPTION / JUSTIFICATION:
The agency requests rider language to allow for the collection of gifts and grants to fund conferences, seminars, and meetings. The agency requests the following rider
language “The State Pension Review Board is hereby authorized to receive gifts and grants to fund conferences, seminars, and meetings concerning pension related issues.
All funds collected shall be expended and accounted for pursuant to the provisions of Section 8.01. Acceptance of Gifts of Money, contained in Article IX, General
Provisions, of this Act. In addition, the State Pension Review Board is authorized to charge registration fees to pay expenses of a conference, seminar, or meeting related to
pension issues. Any registration fee or gift and grant collected by the Board to pay the expenses of a conference, seminar, or meeting may be used to pay the expenses of any
other conference, seminar, or meeting for which no registration fees were collected or for which registration fees collected were insufficient to cover the total expenses. All
funds received under this section are hereby appropriated to the State Pension Review Board for use as provided under this section.”
EXTERNAL/INTERNAL FACTORS:
Schedule 4.A Page 2 of 5
338
Excp 2014 Excp 2015
Pension Review Board
CODE DESCRIPTION
Agency code: Agency name:
8/9/2012DATE:
TIME: 8:54:18AM
Automated Budget and Evaluation System of Texas (ABEST)
83rd Regular Session, Agency Submission, Version 1
4.A. EXCEPTIONAL ITEM REQUEST SCHEDULE
Item Name: Funding for Staff Salaries
Item Priority: 301-01-01 Conduct Reviews of Texas Public Retirement Systems.Includes Funding for the Following Strategy or Strategies:
01-02-01 Provide Technical Assistance; Issue Impact Statements; Educate
OBJECTS OF EXPENSE:
SALARIES AND WAGES1001 13,500 13,500
TOTAL, OBJECT OF EXPENSE $13,500 $13,500
METHOD OF FINANCING:
1 General Revenue Fund 13,500 13,500
$13,500 $13,500TOTAL, METHOD OF FINANCING
DESCRIPTION / JUSTIFICATION:
The amount of this item is $27,000 and represents approximately 2.5% of the agency’s classified salary base. The PRB requests additional funds to attract and retain talented
staff. For several years, the PRB has not had appropriate funding to retain talented employees and as a result, several individuals have left the agency for more lucrative offers
with PRB having no option to even partially match these other offers. This includes the former deputy executive director and staff actuary, two financial analysts, and two
research specialists.
EXTERNAL/INTERNAL FACTORS:
Schedule 4.A Page 3 of 5
338
Excp 2014 Excp 2015
Pension Review Board
CODE DESCRIPTION
Agency code: Agency name:
8/9/2012DATE:
TIME: 8:54:18AM
Automated Budget and Evaluation System of Texas (ABEST)
83rd Regular Session, Agency Submission, Version 1
4.A. EXCEPTIONAL ITEM REQUEST SCHEDULE
Item Name: Restoration of Reduced Agency Funds
Item Priority: 401-01-01 Conduct Reviews of Texas Public Retirement Systems.Includes Funding for the Following Strategy or Strategies:
01-02-01 Provide Technical Assistance; Issue Impact Statements; Educate
OBJECTS OF EXPENSE:
SALARIES AND WAGES1001 16,000 16,000
TOTAL, OBJECT OF EXPENSE $16,000 $16,000
METHOD OF FINANCING:
1 General Revenue Fund 16,000 16,000
$16,000 $16,000TOTAL, METHOD OF FINANCING
DESCRIPTION / JUSTIFICATION:
The biennial amount of this item is $32,000. The PRB requests this amount to restore the agency budget to its baseline prior to the general revenue cuts of the 2010-2011
biennium and to offset the one percent health care assessment required of state agencies for the 2012-2013 biennium. The PRB is a small agency with 90% of its budget
dedicated to salaries. Small reductions in the agency baseline, either through GR cuts or having to cover health care costs, pose a real challenge to the agency. The result of
the baseline reductions is the inability or significant time delay in filling vacant positions as well as keeping the staff level one FTE below what is authorized in the GAA.
Although not specifically requested here as a separate exceptional item since legislative funding recommendations for the 2014-15 biennium have not yet been prepared, if the
2012-13 baseline level is reduced in the bills as introduced, we request restoration of that funding as a top priority exceptional item if and when additional funds can be made
available during the drafting of the final 2014-15 general appropriations act.
EXTERNAL/INTERNAL FACTORS:
Schedule 4.A Page 4 of 5
338
Excp 2014 Excp 2015
Pension Review Board
CODE DESCRIPTION
Agency code: Agency name:
8/9/2012DATE:
TIME: 8:54:18AM
Automated Budget and Evaluation System of Texas (ABEST)
83rd Regular Session, Agency Submission, Version 1
4.A. EXCEPTIONAL ITEM REQUEST SCHEDULE
Item Name: Increase the salary of the Executive Director
Item Priority: 501-01-01 Conduct Reviews of Texas Public Retirement Systems.Includes Funding for the Following Strategy or Strategies:
01-02-01 Provide Technical Assistance; Issue Impact Statements; Educate
OBJECTS OF EXPENSE:
SALARIES AND WAGES1001 30,000 30,000
TOTAL, OBJECT OF EXPENSE $30,000 $30,000
METHOD OF FINANCING:
1 General Revenue Fund 30,000 30,000
$30,000 $30,000TOTAL, METHOD OF FINANCING
DESCRIPTION / JUSTIFICATION:
The biennial amount of this item is $60,000. The PRB requests an increase in the salary authorization and the necessary funds for the executive director from $80,000 annually
to $110,000 annually. This increase would make the executive director’s salary comparable to other executive director’s salaries in agencies with similar mission and staff size.
The State Auditor’s report in July 2010 titled “A Classification Study of Exempt Positions” listed the current market value of the position at $113,306. With consideration that
the board needs the ability to attract and retain a suitable executive director, the board members specifically request this salary increase. Additionally, the board requests that
the increase in the executive director’s salary be accompanied by a corresponding increase in the agency’s total appropriation for FY 2014-2015.
EXTERNAL/INTERNAL FACTORS:
Schedule 4.A Page 5 of 5
Automated Budget and Evaluation System of Texas (ABEST)
8:54:31AMTIME:
8/9/2012DATE:
Agency name:Agency code: 338 Pension Review Board
Excp 2014 Excp 2015
83rd Regular Session, Agency Submission, Version 1
Code Description
4.B. EXCEPTIONAL ITEMS STRATEGY ALLOCATION SCHEDULE
Item Name: Regional Educational Seminars
Allocation to Strategy: Provide Technical Assistance; Issue Impact Statements; Educate1-2-1
OUTPUT MEASURES:
100.00100.00Number of Persons Participating in Regional Public Pension Seminars3
OBJECTS OF EXPENSE:
CONSUMABLE SUPPLIES2003 500 500
TRAVEL2005 11,000 11,000
OTHER OPERATING EXPENSE2009 500 500
$12,000$12,000TOTAL, OBJECT OF EXPENSE
METHOD OF FINANCING:
General Revenue Fund1 12,000 12,000
$12,000$12,000TOTAL, METHOD OF FINANCING
FULL-TIME EQUIVALENT POSITIONS (FTE): 0.0 0.0
Page 1 of 8
Automated Budget and Evaluation System of Texas (ABEST)
8:54:35AMTIME:
8/9/2012DATE:
Agency name:Agency code: 338 Pension Review Board
Excp 2014 Excp 2015
83rd Regular Session, Agency Submission, Version 1
Code Description
4.B. EXCEPTIONAL ITEMS STRATEGY ALLOCATION SCHEDULE
Item Name: Rider Language for the Agency to Collect Funds for Pension Training Conferences, Seminars, and Meetings.
Allocation to Strategy: Provide Technical Assistance; Issue Impact Statements; Educate1-2-1
OBJECTS OF EXPENSE:
CONSUMABLE SUPPLIES2003 0 0
$0$0TOTAL, OBJECT OF EXPENSE
METHOD OF FINANCING:
General Revenue Fund1 0 0
$0$0TOTAL, METHOD OF FINANCING
FULL-TIME EQUIVALENT POSITIONS (FTE): 0.0 0.0
Page 2 of 8
Automated Budget and Evaluation System of Texas (ABEST)
8:54:35AMTIME:
8/9/2012DATE:
Agency name:Agency code: 338 Pension Review Board
Excp 2014 Excp 2015
83rd Regular Session, Agency Submission, Version 1
Code Description
4.B. EXCEPTIONAL ITEMS STRATEGY ALLOCATION SCHEDULE
Item Name: Funding for Staff Salaries
Allocation to Strategy: Conduct Reviews of Texas Public Retirement Systems.1-1-1
OBJECTS OF EXPENSE:
SALARIES AND WAGES1001 6,750 6,750
$6,750$6,750TOTAL, OBJECT OF EXPENSE
METHOD OF FINANCING:
General Revenue Fund1 6,750 6,750
$6,750$6,750TOTAL, METHOD OF FINANCING
FULL-TIME EQUIVALENT POSITIONS (FTE): 0.0 0.0
Page 3 of 8
Automated Budget and Evaluation System of Texas (ABEST)
8:54:35AMTIME:
8/9/2012DATE:
Agency name:Agency code: 338 Pension Review Board
Excp 2014 Excp 2015
83rd Regular Session, Agency Submission, Version 1
Code Description
4.B. EXCEPTIONAL ITEMS STRATEGY ALLOCATION SCHEDULE
Item Name: Funding for Staff Salaries
Allocation to Strategy: Provide Technical Assistance; Issue Impact Statements; Educate1-2-1
OBJECTS OF EXPENSE:
SALARIES AND WAGES1001 6,750 6,750
$6,750$6,750TOTAL, OBJECT OF EXPENSE
METHOD OF FINANCING:
General Revenue Fund1 6,750 6,750
$6,750$6,750TOTAL, METHOD OF FINANCING
FULL-TIME EQUIVALENT POSITIONS (FTE): 0.0 0.0
Page 4 of 8
Automated Budget and Evaluation System of Texas (ABEST)
8:54:35AMTIME:
8/9/2012DATE:
Agency name:Agency code: 338 Pension Review Board
Excp 2014 Excp 2015
83rd Regular Session, Agency Submission, Version 1
Code Description
4.B. EXCEPTIONAL ITEMS STRATEGY ALLOCATION SCHEDULE
Item Name: Restoration of Reduced Agency Funds
Allocation to Strategy: Conduct Reviews of Texas Public Retirement Systems.1-1-1
OBJECTS OF EXPENSE:
SALARIES AND WAGES1001 8,000 8,000
$8,000$8,000TOTAL, OBJECT OF EXPENSE
METHOD OF FINANCING:
General Revenue Fund1 8,000 8,000
$8,000$8,000TOTAL, METHOD OF FINANCING
FULL-TIME EQUIVALENT POSITIONS (FTE): 0.0 0.0
Page 5 of 8
Automated Budget and Evaluation System of Texas (ABEST)
8:54:35AMTIME:
8/9/2012DATE:
Agency name:Agency code: 338 Pension Review Board
Excp 2014 Excp 2015
83rd Regular Session, Agency Submission, Version 1
Code Description
4.B. EXCEPTIONAL ITEMS STRATEGY ALLOCATION SCHEDULE
Item Name: Restoration of Reduced Agency Funds
Allocation to Strategy: Provide Technical Assistance; Issue Impact Statements; Educate1-2-1
OBJECTS OF EXPENSE:
SALARIES AND WAGES1001 8,000 8,000
$8,000$8,000TOTAL, OBJECT OF EXPENSE
METHOD OF FINANCING:
General Revenue Fund1 8,000 8,000
$8,000$8,000TOTAL, METHOD OF FINANCING
FULL-TIME EQUIVALENT POSITIONS (FTE): 0.0 0.0
Page 6 of 8
Automated Budget and Evaluation System of Texas (ABEST)
8:54:35AMTIME:
8/9/2012DATE:
Agency name:Agency code: 338 Pension Review Board
Excp 2014 Excp 2015
83rd Regular Session, Agency Submission, Version 1
Code Description
4.B. EXCEPTIONAL ITEMS STRATEGY ALLOCATION SCHEDULE
Item Name: Increase the salary of the Executive Director
Allocation to Strategy: Conduct Reviews of Texas Public Retirement Systems.1-1-1
OBJECTS OF EXPENSE:
SALARIES AND WAGES1001 15,000 15,000
$15,000$15,000TOTAL, OBJECT OF EXPENSE
METHOD OF FINANCING:
General Revenue Fund1 15,000 15,000
$15,000$15,000TOTAL, METHOD OF FINANCING
FULL-TIME EQUIVALENT POSITIONS (FTE): 0.0 0.0
Page 7 of 8
Automated Budget and Evaluation System of Texas (ABEST)
8:54:35AMTIME:
8/9/2012DATE:
Agency name:Agency code: 338 Pension Review Board
Excp 2014 Excp 2015
83rd Regular Session, Agency Submission, Version 1
Code Description
4.B. EXCEPTIONAL ITEMS STRATEGY ALLOCATION SCHEDULE
Item Name: Increase the salary of the Executive Director
Allocation to Strategy: Provide Technical Assistance; Issue Impact Statements; Educate1-2-1
OBJECTS OF EXPENSE:
SALARIES AND WAGES1001 15,000 15,000
$15,000$15,000TOTAL, OBJECT OF EXPENSE
METHOD OF FINANCING:
General Revenue Fund1 15,000 15,000
$15,000$15,000TOTAL, METHOD OF FINANCING
FULL-TIME EQUIVALENT POSITIONS (FTE): 0.0 0.0
Page 8 of 8
CODE DESCRIPTION
STRATEGY:
OBJECTIVE:
GOAL:
1 Conduct Reviews of Texas Public Retirement Systems.
1 Determine Actuarial Condition of All Public Retirement Systems
1 Ensure Actuarially Sound Retirement Systems
Agency Code: 338
Excp 2015Excp 2014
Agency name: Pension Review Board
Automated Budget and Evaluation System of Texas (ABEST)
98
B.3A.205
DATE: 8/9/2012
TIME: 8:54:58AM
Statewide Goal/Benchmark:
Service Categories:
Service: Income: Age:
-
83rd Regular Session, Agency Submission, Version 14.C. EXCEPTIONAL ITEMS STRATEGY REQUEST
OBJECTS OF EXPENSE:
1001 SALARIES AND WAGES 29,750 29,750
Total, Objects of Expense $29,750 $29,750
METHOD OF FINANCING:
1 General Revenue Fund 29,750 29,750
Total, Method of Finance $29,750 $29,750
EXCEPTIONAL ITEM(S) INCLUDED IN STRATEGY:
Funding for Staff Salaries
Restoration of Reduced Agency Funds
Increase the salary of the Executive Director
Page 1 of 2
CODE DESCRIPTION
STRATEGY:
OBJECTIVE:
GOAL:
1 Provide Technical Assistance; Issue Impact Statements; Educate
2 Respond to Requests From Legislature and Public Retirement Systems
1 Ensure Actuarially Sound Retirement Systems
Agency Code: 338
Excp 2015Excp 2014
Agency name: Pension Review Board
Automated Budget and Evaluation System of Texas (ABEST)
98
B.3A.205
DATE: 8/9/2012
TIME: 8:55:15AM
Statewide Goal/Benchmark:
Service Categories:
Service: Income: Age:
-
83rd Regular Session, Agency Submission, Version 14.C. EXCEPTIONAL ITEMS STRATEGY REQUEST
OUTPUT MEASURES:
100.00 100.003 Number of Persons Participating in Regional Public Pension Seminars
OBJECTS OF EXPENSE:
1001 SALARIES AND WAGES 29,750 29,750
2003 CONSUMABLE SUPPLIES 500 500
2005 TRAVEL 11,000 11,000
2009 OTHER OPERATING EXPENSE 500 500
Total, Objects of Expense $41,750 $41,750
METHOD OF FINANCING:
1 General Revenue Fund 41,750 41,750
Total, Method of Finance $41,750 $41,750
EXCEPTIONAL ITEM(S) INCLUDED IN STRATEGY:
Regional Educational Seminars
Rider Language for the Agency to Collect Funds for Pension Training Conferences, Seminars, and Meetings.
Funding for Staff Salaries
Restoration of Reduced Agency Funds
Increase the salary of the Executive Director
Page 2 of 2
8/9/2012
Total
Strategy/Strategy Option/Rider
GR Total GR
Automated Budget and Evaluation System of Texas (ABEST) 8:55:32AMTIME:
DATE:
Agency code: Agency name: Pension Review Board
2014 Funds 2015 Funds Biennial
Cumulative GR
GR Baseline Request Limit = $1,389,235
Page #FTEs Ded FTEs Ded
Biennial
Cumulative Ded
GR-D Baseline Request Limit = $0
83rd Regular Session, Agency Submission, Version 1
GENERAL REVENUE (GR) & GENERAL REVENUE DEDICATED (GR-D) BASELINE REPORT
Conduct Reviews of Texas Public Retirement Systems.Strategy: 1 - 1 - 1
0694,0030347,001347,0016.00347,002347,0026.0
Provide Technical Assistance; Issue Impact Statements; EducateStrategy: 1 - 2 - 1
01,388,0030347,000357,0006.00347,000357,0006.0
******GR Baseline Request Limit=$1,389,235******12.0 12.0
Regional Educational SeminarsExcp Item: 1
01,412,003012,00012,0000.0012,00012,0000.0
Strategy Detail for Excp Item: 1
Provide Technical Assistance; Issue Impact Statements; EducateStrategy: 1 - 2 - 1
00 12,00012,000 0.00.0 12,00012,000
Funding for Staff SalariesExcp Item: 3
01,439,003013,50013,5000.0013,50013,5000.0
Strategy Detail for Excp Item: 3
Conduct Reviews of Texas Public Retirement Systems.Strategy: 1 - 1 - 1
00 6,7506,750 0.00.0 6,7506,750
Provide Technical Assistance; Issue Impact Statements; EducateStrategy: 1 - 2 - 1
00 6,7506,750 0.00.0 6,7506,750
Restoration of Reduced Agency FundsExcp Item: 4
01,471,003016,00016,0000.0016,00016,0000.0
Page 1 of 2
8/9/2012
Total
Strategy/Strategy Option/Rider
GR Total GR
Automated Budget and Evaluation System of Texas (ABEST) 8:56:52AMTIME:
DATE:
Agency code: Agency name: Pension Review Board
2014 Funds 2015 Funds Biennial
Cumulative GR
GR Baseline Request Limit = $1,389,235
Page #FTEs Ded FTEs Ded
Biennial
Cumulative Ded
GR-D Baseline Request Limit = $0
83rd Regular Session, Agency Submission, Version 1
GENERAL REVENUE (GR) & GENERAL REVENUE DEDICATED (GR-D) BASELINE REPORT
Strategy Detail for Excp Item: 4
Conduct Reviews of Texas Public Retirement Systems.Strategy: 1 - 1 - 1
00 8,0008,000 0.00.0 8,0008,000
Provide Technical Assistance; Issue Impact Statements; EducateStrategy: 1 - 2 - 1
00 8,0008,000 0.00.0 8,0008,000
Increase the salary of the Executive DirectorExcp Item: 5
01,531,003030,00030,0000.0030,00030,0000.0
Strategy Detail for Excp Item: 5
Conduct Reviews of Texas Public Retirement Systems.Strategy: 1 - 1 - 1
00 15,00015,000 0.00.0 15,00015,000
Provide Technical Assistance; Issue Impact Statements; EducateStrategy: 1 - 2 - 1
00 15,00015,000 0.00.0 15,00015,000
$775,502 $765,502 $775,501 $765,50112.0 12.0$0 0
Page 2 of 2
Automated Budget and Evaluation System of Texas (ABEST)
Date:
Time: 8:58:04AM
8/9/2012
83rd Regular Session, Agency Submission, Version 1
Pension Review BoardAgency:338Agency Code:
6.A. HISTORICALLY UNDERUTILIZED BUSINESS SUPPORTING SCHEDULE
COMPARISON TO STATEWIDE HUB PROCUREMENT GOALS
Statewide
HUB Goals
Procurement
Category
Total
Expenditures
FY 2011
HUB Expenditures FY 2011
Total
Expenditures
FY 2010
HUB Expenditures FY 2010
A. Fiscal Year 2010 - 2011 HUB Expenditure Information
% Goal % Actual Actual $ Actual $% Actual% Goal DiffDiff
$0$0$0$0Heavy Construction11.9% 0.0% 0.0%%0.0 %0.0 0.0%0.0%
$0$0$0$0Building Construction26.1% 0.0% 0.0%%0.0 %0.0 0.0%0.0%
$0$0$0$0Special Trade Construction57.2% 0.0% 0.0%%0.0 %0.0 0.0%0.0%
$0$0$0$0Professional Services20.0% 0.0% 0.0%%0.0 %0.0 0.0%0.0%
$32,045$6,875$61,447$38,449Other Services33.0% 62.6% 21.5%%33.0 %33.0 -11.5%29.6%
$50,797$5,129$103,768$42,311Commodities12.6% 40.8% 10.1%%12.6 %12.6 -2.5%28.2%
Total Expenditures $80,760 $165,215 $12,004 $82,842
Attainment:
The Agency attained or exceeded two of the four, or 50% of the applicable statewide HUB procurement goals in fiscal years 2010-2011.
B. Assessment of Fiscal Year 2010 - 2011 Efforts to Meet HUB Procurement Goals
48.9% 14.5%
Heavy Construction, Building Construction, Special Trade Construction, and Professional Services procurement categories are not applicable to agency's operations in
fiscal year 2010 or fiscal year 2011.
Applicability:
The agency's budget is 90% salary, which extremely limits discretionary acquisitions. There were several purchases that are not available from any other vendor, that
limited the agency’s flexibility to procure from HUB vendors.
Factors Affecting Attainment:
PRB will make a good faith effort to utilize HUBs in the procurement process of all goods and services; whenever applicable for any dollar amount. PRB will always
strive to achieve and exceed the HUB Statewide goals whenever possible.
"Good-Faith" Efforts:
Page 1 of 1
83rd Regular Session, Agency Submission, Version 1
Automated Budget and Evaluation System of Texas (ABEST)Agency Code: Agency name:338 Pension Review Board
Act 2011FUND/ACCOUNT Exp 2012 Exp 2013 Bud 2014 Est 2015
6.E. ESTIMATED REVENUE COLLECTIONS SUPPORTING SCHEDULE
$0Beginning Balance (Unencumbered):Appropriated Receipts666
$0 $0 $0 $0
Estimated Revenue:
7,6003722 Conf, Semin, & Train Regis Fees 0 10,000 10,000 10,000
Subtotal: Actual/Estimated Revenue
Total Available
7,600 0 10,000 10,000 10,000
$7,600 $0 $10,000 $10,000 $10,000
Ending Fund/Account Balance $7,600 $0 $10,000 $10,000 $10,000
REVENUE ASSUMPTIONS:
CONTACT PERSON:
John Perryman
Page 1 of 1
Automated Budget and Evaluation System of Texas (ABEST)
Date: 8/9/2012
Time: 8:59:11AM83rd Regular Session, Agency Submission, Version 1
6I. PERCENT BIENNIAL BASE REDUCTION OPTIONS
10 % REDUCTION
Item Priority and Name/ Method of Financing 2014 2015 Biennial Total
REDUCTION AMOUNT
20152014
REVENUE LOSS
Biennial Total
Agency code: 338 Agency name: Pension Review Board
TARGET
1 Baseline Reduction of First Five Percent
Category: Programs - Service Reductions (FTEs-Layoffs)
Item Comment: To achieve the necessary general revenue reduction of the first $69,462 for the 2014-2015 biennium, the PRB would eliminate one staff position, or
7.7% of the agency’s authorized FTE. Since current funding restraints already prevent the agency from filling one position, this additional reduction would under staff
PRB by 15.4% from the legislatively acknowledged preferred level of 13. Currently 90% of the budget is dedicated to salary, thus to achieve a reduction of 5%, the
agency must reduce its salary budget further. The impact on agency morale and service delivery would be significant. The loss of staff will further aggravate existing
workload excesses on remaining personnel. More importantly, a 5% reduction would reduce PRB’s ability to conduct timely analysis of the state’s public retirement
systems and erode the educational services provided by the agency.
Strategy: 1-1-1 Conduct Reviews of Texas Public Retirement Systems.
General Revenue Funds
$17,3661 General Revenue Fund $34,732$17,366$0 $0 $0
General Revenue Funds Total $17,366$17,366 $34,732$0$0 $0
Strategy: 1-2-1 Provide Technical Assistance; Issue Impact Statements; Educate
General Revenue Funds
$17,3651 General Revenue Fund $34,730$17,365$0 $0 $0
General Revenue Funds Total $17,365$17,365 $34,730$0$0 $0
Item Total $34,731$34,731 $69,462$0$0 $0
FTE Reductions (From FY 2014 and FY 2015 Base Request) 1.0 1.0
2 Baseline Reduction of Second Five Percent
Category: Programs - Service Reductions (FTEs-Layoffs)
Page 1 of 2
Automated Budget and Evaluation System of Texas (ABEST)
Date: 8/9/2012
Time: 8:59:17AM83rd Regular Session, Agency Submission, Version 1
6I. PERCENT BIENNIAL BASE REDUCTION OPTIONS
10 % REDUCTION
Item Priority and Name/ Method of Financing 2014 2015 Biennial Total
REDUCTION AMOUNT
20152014
REVENUE LOSS
Biennial Total
Agency code: 338 Agency name: Pension Review Board
TARGET
Item Comment: To achieve the necessary general revenue reduction of the second $69,462 for the 2014-2015 biennium, the PRB would eliminate a second staff
position, resulting in total understaffing for the 2014-15 biennium of 15.4%, or 23.1% off the legislatively acknowledged preferred level of 13. As already noted, the
agency currently has 90% of its budget dedicated to salary, thus to achieve a reduction of another 5% (10% total for the biennium) the agency would have to reduce
further its number of personnel. The impact would be severe and delay the implementation of services. The agency has been recommended for continued operation
with enhanced responsibilities by the Sunset staff (full Commission recommendation pending as of this writing). A reduction of 10% from the already eroded 2012-13
funding level would jeopardize the ability of the agency to fulfill its mission. Nonetheless, the board and staff are committed to doing the best we can to deliver
effective services at whatever level the Legislature and Governor deem necessary.
Strategy: 1-1-1 Conduct Reviews of Texas Public Retirement Systems.
General Revenue Funds
$17,3661 General Revenue Fund $34,732$17,366$0 $0 $0
General Revenue Funds Total $17,366$17,366 $34,732$0$0 $0
Strategy: 1-2-1 Provide Technical Assistance; Issue Impact Statements; Educate
General Revenue Funds
$17,3651 General Revenue Fund $34,730$17,365$0 $0 $0
General Revenue Funds Total $17,365$17,365 $34,730$0$0 $0
Item Total $34,731$34,731 $69,462$0$0 $0
FTE Reductions (From FY 2014 and FY 2015 Base Request) 1.0 1.0
General Revenue Total$69,462 $69,462 $138,924 $138,924
AGENCY TOTALS
$138,924Agency Grand Total $69,462 $69,462$0$0$0
Difference, Options Total Less Target
Agency FTE Reductions (From FY 2014 and FY 2015 Base Request) 2.02.0
Page 2 of 2
Conduct Reviews of Texas Public Retirement Systems.
Agency code: Agency name: Pension Review Board
Exp 2011 Est 2012 Bud 2013 BL 2014 BL 2015
Automated Budget and Evaluation System of Texas (ABEST)
DATE: 8/9/2012
TIME : 8:59:44AM
Strategy
338
1-1-1
83rd Regular Session, Agency Submission, Version 1
7.A. INDIRECT ADMINISTRATIVE AND SUPPORT COSTS
OBJECTS OF EXPENSE:
$ 20,354 $ 20,313 $ 20,313 $ 20,3131001 $18,986SALARIES AND WAGES
599 500 500 5001002 1,005OTHER PERSONNEL COSTS
77 31 31 312001 1,302PROFESSIONAL FEES AND SERVICES
83 63 63 632003 40CONSUMABLE SUPPLIES
303 438 438 4382005 38TRAVEL
13 31 31 312006 0RENT - BUILDING
48 125 125 1252007 880RENT - MACHINE AND OTHER
256 188 188 1882009 1,361OTHER OPERATING EXPENSE
$21,733 $21,689 $21,689 $21,689$23,612Total, Objects of Expense
METHOD OF FINANCING:
General Revenue Fund1 23,612 21,733 21,689 21,689 21,689
$21,733 $21,689 $21,689 $21,689$23,612Total, Method of Financing
FULL TIME EQUIVALENT POSITIONS 0.8 0.8 0.8 0.8 0.8
Page 1 of 3
Provide Technical Assistance; Issue Impact Statements; Educate
Agency code: Agency name: Pension Review Board
Exp 2011 Est 2012 Bud 2013 BL 2014 BL 2015
Automated Budget and Evaluation System of Texas (ABEST)
DATE: 8/9/2012
TIME : 8:59:48AM
Strategy
338
1-2-1
83rd Regular Session, Agency Submission, Version 1
7.A. INDIRECT ADMINISTRATIVE AND SUPPORT COSTS
OBJECTS OF EXPENSE:
$ 17,132 $ 18,365 $ 18,365 $ 18,3651001 $14,230SALARIES AND WAGES
31 450 450 4501002 558OTHER PERSONNEL COSTS
780 750 750 7502001 0PROFESSIONAL FEES AND SERVICES
94 125 125 1252003 350CONSUMABLE SUPPLIES
201 500 500 5002005 632TRAVEL
55 31 31 312006 45RENT - BUILDING
889 813 813 8132007 308RENT - MACHINE AND OTHER
2,540 1,279 1,279 1,2792009 1,968OTHER OPERATING EXPENSE
$21,722 $22,313 $22,313 $22,313$18,091Total, Objects of Expense
METHOD OF FINANCING:
General Revenue Fund1 18,091 21,722 22,313 22,313 22,313
$21,722 $22,313 $22,313 $22,313$18,091Total, Method of Financing
FULL TIME EQUIVALENT POSITIONS 0.7 0.7 0.7 0.7 0.7
Page 2 of 3
Agency code: Agency name: Pension Review Board
Exp 2011 Est 2012 Bud 2013 BL 2014 BL 2015
Automated Budget and Evaluation System of Texas (ABEST)
DATE: 8/9/2012
TIME : 8:59:48AM
338
83rd Regular Session, Agency Submission, Version 1
7.A. INDIRECT ADMINISTRATIVE AND SUPPORT COSTS
GRAND TOTALS
Objects of Expense
1001 SALARIES AND WAGES $33,216 $38,678$37,486 $38,678 $38,678
1002 OTHER PERSONNEL COSTS $1,563 $950$630 $950 $950
2001 PROFESSIONAL FEES AND SERVICES $1,302 $781$857 $781 $781
2003 CONSUMABLE SUPPLIES $390 $188$177 $188 $188
2005 TRAVEL $670 $938$504 $938 $938
2006 RENT - BUILDING $45 $62$68 $62 $62
2007 RENT - MACHINE AND OTHER $1,188 $938$937 $938 $938
2009 OTHER OPERATING EXPENSE $3,329 $1,467$2,796 $1,467 $1,467
$41,703 $43,455 $44,002 $44,002 $44,002Total, Objects of Expense
Method of Financing
1 General Revenue Fund $41,703 $44,002$43,455 $44,002 $44,002
$41,703 $43,455 $44,002 $44,002 $44,002Total, Method of Financing
Full-Time-Equivalent Positions (FTE) 1.5 1.5 1.5 1.5 1.5
Page 3 of 3
Conduct Reviews of Texas Public Retirement Systems.
Agency code: Agency name: Pension Review Board
Exp 2011 Est 2012 Bud 2013 BL 2014 BL 2015
Automated Budget and Evaluation System of Texas (ABEST)
83rd Regular Session, Agency Submission, Version 1
DATE: 8/9/2012TIME : 9:00:02AM
Strategy
338
1-1-1
7.B. DIRECT ADMINISTRATIVE AND SUPPORT COSTS
OBJECTS OF EXPENSE:
$305,306 $304,687 $304,687 $304,6871001 $284,796SALARIES AND WAGES
8,981 7,500 7,500 7,5001002 15,076OTHER PERSONNEL COSTS
1,153 469 469 4692001 19,537PROFESSIONAL FEES AND SERVICES
1,238 937 937 9372003 600CONSUMABLE SUPPLIES
4,540 6,562 6,562 6,5622005 565TRAVEL
189 469 469 4692006 0RENT - BUILDING
722 1,875 1,875 1,8752007 13,200RENT - MACHINE AND OTHER
3,847 2,813 2,814 2,8132009 20,419OTHER OPERATING EXPENSE
$325,976 $325,312 $325,313 $325,312$354,193Total, Objects of Expense
METHOD OF FINANCING:
General Revenue Fund1 354,193 325,976 325,312 325,313 325,312
$325,976 $325,312 $325,313 $325,312$354,193Total, Method of Financing
5.2 5.2 5.2 5.2 5.2FULL-TIME-EQUIVALENT POSITIONS (FTE):
Page 1 of 3
Provide Technical Assistance; Issue Impact Statements; Educate
Agency code: Agency name: Pension Review Board
Exp 2011 Est 2012 Bud 2013 BL 2014 BL 2015
Automated Budget and Evaluation System of Texas (ABEST)
83rd Regular Session, Agency Submission, Version 1
DATE: 8/9/2012TIME : 9:00:10AM
Strategy
338
1-2-1
7.B. DIRECT ADMINISTRATIVE AND SUPPORT COSTS
OBJECTS OF EXPENSE:
$256,982 $275,470 $275,470 $275,4701001 $213,454SALARIES AND WAGES
469 6,750 6,750 6,7501002 8,362OTHER PERSONNEL COSTS
11,695 11,250 11,250 11,2502001 0PROFESSIONAL FEES AND SERVICES
1,404 1,875 1,875 1,8752003 5,243CONSUMABLE SUPPLIES
3,009 7,500 7,500 7,5002005 9,472TRAVEL
822 469 469 4692006 679RENT - BUILDING
13,330 12,187 12,187 12,1872007 4,626RENT - MACHINE AND OTHER
38,092 19,186 19,186 19,1862009 29,517OTHER OPERATING EXPENSE
$325,803 $334,687 $334,687 $334,687$271,353Total, Objects of Expense
METHOD OF FINANCING:
General Revenue Fund1 263,753 325,803 324,687 324,687 324,687
Appropriated Receipts666 7,600 0 10,000 10,000 10,000
$325,803 $334,687 $334,687 $334,687$271,353Total, Method of Financing
5.0 5.3 5.3 5.3 5.3FULL-TIME-EQUIVALENT POSITIONS (FTE):
Page 2 of 3
Agency code: Agency name: Pension Review Board
Exp 2011 Est 2012 Bud 2013 BL 2014 BL 2015
Automated Budget and Evaluation System of Texas (ABEST)
83rd Regular Session, Agency Submission, Version 1
DATE: 8/9/2012TIME : 9:00:10AM
338
7.B. DIRECT ADMINISTRATIVE AND SUPPORT COSTS
GRAND TOTALS
Objects of Expense
1001 SALARIES AND WAGES $498,250 $580,157$562,288 $580,157 $580,157
1002 OTHER PERSONNEL COSTS $23,438 $14,250$9,450 $14,250 $14,250
2001 PROFESSIONAL FEES AND SERVICES $19,537 $11,719$12,848 $11,719 $11,719
2003 CONSUMABLE SUPPLIES $5,843 $2,812$2,642 $2,812 $2,812
2005 TRAVEL $10,037 $14,062$7,549 $14,062 $14,062
2006 RENT - BUILDING $679 $938$1,011 $938 $938
2007 RENT - MACHINE AND OTHER $17,826 $14,062$14,052 $14,062 $14,062
2009 OTHER OPERATING EXPENSE $49,936 $21,999$41,939 $21,999 $22,000
$625,546 $651,779 $659,999 $660,000 $659,999Total, Objects of Expense
Method of Financing
1 General Revenue Fund $617,946 $649,999$651,779 $649,999 $650,000
666 Appropriated Receipts $7,600 $10,000$0 $10,000 $10,000
$625,546 $651,779 $659,999 $660,000 $659,999Total, Method of Financing
10.2 10.5 10.5 10.5 10.5Full-Time-Equivalent Positions (FTE)
Page 3 of 3