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EXHIBIT 2015-000
VILLAGE OF CAYUGA HEIGHTS
CLERK & TREASURER’S REPORT
SEPTEMBER 21, 2015
1. Reporting
CDLM external auditors’ on-site work was performed the week of September 14.
2. Budget
New York State & Local Retirement System 2016 Estimates have been revised:
Budgeted* Revised Modification
ERS A9010.800 $152,313 $147,992 ($ 4,321)
PFRS - Police A9015.800 $137,947 $152,916 $14,967
* Budgeted Contribution based on NYS&LRS projection (3/24/2015) which uses 2014 Actual Salaries double
inflated.
BE IT RESOLVED THAT: General Fund Budget for Fiscal Year Ending May 31, 2016 modifications reducing
account A9010.800, Employee Benefits: Retirement by $4,321 and increasing account A9015.800, Employee
Benefits: Police/Fire Retirement by $14,967 are approved and the Treasurer is instructed to make the necessary
Budget Journal entries by drawing down A1990.400, Contingency.
However, Comptroller DiNapoli’s office announced that the pension contribution rates will decrease for the New
York State and Local Retirement System's 2016-17 fiscal year (payable by employers in December 2016 or
February 2017). The average contribution rate for the Employees Retirement System (ERS) will go from 18.2% to
15.5% of payroll, reflecting a 15% drop. The average contribution rate for the Police and Fire Retirement System
(PFRS) will decrease from 24.7% of payroll to 24.3%, or about 2%. Keep in mind that these are average rates and
that each employer’s contribution rate will vary depending upon retirement plans, salaries and retirement tiers.
2017 Projections: ERS $129,986
PFRS $150,997
3. Revenues & Expenditures –
August 2015 reporting is available; reconciliation has been reviewed and approved by Deputy Treasurer Woodard.
4. Current Expenses - Unaudited Abstract #4 dated September 21, 2015 as distributed.
5. Approval of September Abstract –
BE IT RESOLVED THAT: Abstract #4 for FYE2016 consisting of TA vouchers 25 - 00 in the amount of
$16,000.00 and Consolidated Fund vouchers 194 - 200 in the amount of $000,000.00 is approved and the Treasurer
is instructed to make payments thereon.
Respectfully submitted,
Joan M. Mangione