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

[Sue Bell]

Morning,

I just received a survey that was sent to my Superintendents today in
regards to Data needed this week on the Fiscal Impact of the Paid
Family Leave Act. Have any of you done your 1% calculations and
submitted them on their survey sheet?  I do not have the salaries in
the budget yet for FY25 as we are negotiating. Are you using this
year's salaries or estimating next year's salaries?

Thanks
Susan Bell
RSU 26 -Payroll/HR/ Benefits
207-962-1133



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)
>> 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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