Uses of Revenue
| Estimated 2012/2013 Cost of 1 Percent Salary Increase | ||||
|---|---|---|---|---|
| 2011/12 Final Budget |
2011/12 Retirement Adjustment1 |
2011/12 Adjusted Base |
2012/13 Cost of 1 Percent Salary Increase |
|
| Faculty | ||||
| Salary | $1,137,311,000 | $1,137,311,000 | $11,373,000 | |
| Retirement | $212,962,000 | ($6,255,000) | $206,707,000 | $2,067,000 |
| Social Security | $82,455,000 | $82,455,000 | $825,000 | |
| Total | $1,432,728,000 | ($6,255,000) | $1,426,473,000 | $14,265,000 |
| Staff | ||||
| Salaries | $1,139,814,000 | $1,139,814,000 | $11,398,000 | |
| Retirement | $191,865,000 | ($6,083,000) | $185,782,000 | $1,858,000 |
| Social Security | $80,498,000 | $80,498,000 | $805,000 | |
| Total | $1,412,177,000 | ($6,083,000) | $1,406,094,000 | $14,061,000 |
| Cost of 1% | $2,844,905,000 | ($12,338,000)2 | $2,832,567,000 | $28,326,000 |
| Cost of 3% | $84,978,000 | |||
| 12011/12 Member Category State Miscellaneous-Tier 1 Decrease by .550% from a 2010/11 Composite Rate of 18.725% to 18.175%; Member Category State Peace Officer/ Firefighter Decreased by 1.307% from a 2010/11 composite rate of 28.722% to 27.415% | ||||
| 2The State Department of Finance 2011/12 retirement adjustment of $38.5 milllion is based on changes from July - December 2010 rates rather than 2010/11 composite rates. The remaining adjustment above $12.4 million is held in systemwide provisions. | ||||
