Does the department have comments . Will you come up the budget analyst has made a few recommendations to your budget. Why dont we go through your report and ask afterwards. Mr. Chairman and members of the committee. On page 5 of our report, we state that the recommended deductions, of the 1. 06 million and 706 are ongoing savings and 937 are onetime. And allowing an increase of 17. 1 of the departments 1415 budget. Our recommended reductions total 689,five 17, and in 1516, all of which are ongoing savings. My understanding, supervisors that the department did concur or has concurred with our recommendations. However i want to point out one recommendation on page actually its on page 7, its the last recommendation that we made. Its a recommended deduction of 945,360. We were advised that the Real Estate Division had some questions about that, and we are happy to work with the Real Estate Division regarding a tenant improvement of 945,360 if the director so directs. Director. I couldnt
Mayors Budget Office and the controllers office, particularly marisa and teresa cal and teresa sandler. To help the Department Connect to county policies. And on behalf of the 11,699 children we support, thank you for your time and attention. That concludes my presentation, and i would be happy to answer any questions. Thank you very much for your presentation, colleagues do we have questions at this point in time . Comments. Okay, we dont have a budget analyst report. As you know. Thank you for being here, we will hear all three Department Budgets and then take Public Comment thank you very much. Thank you very much. Up next i believe i saw jay hulet here from our retirement system. We will get started. Good morning, members of the committee. We will have copies for the staff, they are being made right now. Hopefully you have a hard copy of my presentation. I am the executive director of the San Francisco Employee Retirement system. Our mission is dedicating to securing the trust asse
Thank you for being here, we will hear all three Department Budgets and then take Public Comment thank you very much. Thank you very much. Up next i believe i saw jay hulet here from our retirement system. We will get started. Good morning, members of the committee. We will have copies for the staff, they are being made right now. Hopefully you have a hard copy of my presentation. I am the executive director of the San Francisco Employee Retirement system. Our mission is dedicating to securing the trust assets and managing the programs and providing promise benefits. The next page shows the number of current plans, for active employees, its 14. Most of you are aware that over the last three to four years there is a lot of pension reform to the voters. Of the city and county of San Francisco, that resulted in nine additional benefit plans that we administer. We have still some folks that are actively employed that were hired prior to 1976, they are covered by a separate benefit plan, th
Do more to assist all parents in their effort to overcome barriers and to successfully compete in jobs. We understand that this requires a concerted effort and Child Support must be a part of that effort. We can and must do three things, continue to grow partnerships with other service providers, continue to grow and enhance Case Management to barriers that reflect our client demographics, and continue to develop realistic orders that are reliable and make sense for both parents. We have created initiatives to confront the challenges these parents face. In my experience a good budget offers Practical Solutions to the problem of its time. And Practical Solutions work. We have made meaningful progress, we have proven to our colleagues, our Child Support colleagues in other counties and other states, that fresh thinking leads to strong performance. Of the 58 california counties in San Francisco, San Francisco is ranked fourth in statewide collections. And although the majority of our pare
And the actuary value is 16. 3. Again we dont have to make, we are investing more money than the actuary assumes we have and make it easy to meet the target of 7. 5. And we are making 14. 5 through the end of april. Not predicting a dive in the market, that will continue to compound itself. What happens once we invest more than the actuary assumes and hopefully make the gap larger, and that we are meeting the required return assumption, b bah because we are able to invest more than the actuary. And they measure the assumptions and grow the trust based on 7. 75 as it was in the 200809. Can you remind me what we obligated as the city to fund, dont we have a requirement . Yes, there is a required per contribution that is currently 28 , and however with the cost sharing where the active employees based on their salary level have an additional contribution, the net number is 23 or 24. Is there a funding level market or actuaryial that we hold . The charter doesnt require that there be 100 f