[SchoolFinance] New Paid Family & Medical Leave - budget strategy?

[Carrie Colley]

We will budget worst case scenario also 1% for 6 months.

Carrie

On Wed, Jan 3, 2024 at 3:33 PM Adam Hanson <
ahanson at lewistonpublicschools.org> wrote:

> Hi Kate,
> I will be discussing this with the superintendent next week, but my
> initial plan is to do exactly what you're doing and budget the full 1% as
> worst-case scenario.
>
> On Wed, Jan 3, 2024 at 3:11 PM Kate Bolton <kbolton at scarboroughschools.org>
> wrote:
>
>> Hi all, happy New Year!
>>
>> Wondering whether you plan to budget for the new payroll tax for Paid
>> Family & Medical Leave in your districts and how you will estimate it...
>>
>> The language of the budget bill says that a total of 1% of all wages must
>> be collected as payroll premiums, and that up to 50% of the required
>> premium may be deducted from the employee's wages. Knowing that DOL
>> rulemaking will be going on at the same time we are all preparing to
>> present our budgets, I'm tempted to prepare for the worst and budget the
>> full 1% based on a January 1, 2025 start date, as I would much rather be
>> able to reduce my cost estimates for second reading than have to add to
>> them.
>>
>> What are y'all thinking? Will you use 0.5% as the employer share? Budget
>> the full 1%? Roll the dice and leave it out of your projections?
>>
>> Thanks!
>>
>> :) Kate
>>
>> Kate Bolton
>> (she/her/hers and here's why <https://www.mypronouns.org/what-and-why/>)
>> Director of Business & Finance
>> Scarborough Public Schools
>> Tel: 207-730-4114
>>
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>
>
>
> --
> Adam Hanson
> Controller
> Lewiston Public Schools
> 36 Oak Street
> Lewiston, ME 04240
> Phone: (207) 795-4100, ext. 4051
> Fax: (207) 795-4177
>
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-- 
Carrie Colley
Director of Finance & Operations
M.S.A.D. #17
232 Main Street, Suite 2
South Paris, Maine 04281
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