Coos Bay finance director warns PERS rate jump and capital-timing will squeeze next year’s budget

Summary

District finance staff reported a clean audit and stronger-than-budgeted beginning balances but told the board an expected Public Employees Retirement System (PERS) rate increase and timing of capital invoices will push next year’s personnel costs higher and require supplemental budgeting for several projects.

Coos Bay SD 9 — The district’s finance staff told the school board that a completed audit and unusually high capital-project beginning balances leave the district in better shape than budgeted, but an expected PERS rate increase and the timing of bond and grant invoices will put significant pressure on next year’s budget.

Marina (staff member — finance) said auditors delivered a completed audit with “no errors or findings” by the Dec. 31 deadline and that the district’s general fund began the year with a larger-than-expected balance. “We did end last year with a $445,000 beginning fund balance that is higher than what we budgeted,” she said.

But Marina told the board the PERS employer-rate increases recently released by the system will raise the district’s personnel costs substantially. “Just based on December payroll calculation alone, we're looking at about… $72,000 a month, for almost…

Coos Bay finance director warns PERS rate jump and capital-timing will squeeze next year’s budget

Summary

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