2012/13 Supplemental Documentation

Uses of Revenue

Estimated 2012/2013 Cost of 1 Percent Salary Increase
  2011/12
Final Budget
2011/12
Retirement
Adjustment
1
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.