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12.2. Personnel expenses: You have been tasked with computing baseline budget targets for the upcoming...

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Accounting

12.2. Personnel expenses: You have been tasked with computing baseline budget targets for the upcoming budget cycle. Using Table 12.3 as your starting point, make the following adjustments:
(a) All employees are expected to receive a 3% cost-of-living increase in the next year.
(b) The fixed benefit rate will increase by $12.50 per full-time equivalent (FTE) employee. There are 50 FTEs.
(c) The variable benefit rate will increase by 1.25% for all employees in the next year.
(d) Budget baselines are not given out with cents, so round to the nearest dollar.
Table 12.3 Personnel Expenses
Expense Type FY 2014
Salaries $1,500,257
Fixed Benefits 534,240
Variable Benefits 262,545
Total Nonpersonnel $2,297,042
FTE 50

Expense Type FY 2014 COLA /Other Rate Other rate / amount Cost of Living Net Benefit Change Computed Baseline Rounded
Salaries $ 1,500,257 3% $ 45,007.71
Fixed Benefits 534,240 13 534,240
Variable Benefits 1%
Total Nonpersonnel
FTE 50.00
Check
TRUE TRUE
TRUE TRUE
TRUE

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