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

[Melannie Keister]

Hello,
Is there an object code for this yet?
Thank you

Get Outlook for iOS<https://aka.ms/o0ukef>
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From: SchoolFinance <schoolfinance-bounces at maillist.informe.org> on behalf of Batista, Ida <Ida.Batista at maine.gov>
Sent: Wednesday, January 3, 2024 3:54:47 PM
To: Moderated information sharing for school business managers <schoolfinance at maillist.informe.org>
Subject: Re: [SchoolFinance] New Paid Family & Medical Leave - budget strategy?


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Hello,



We are looking into the coding needs of this new law.



Stay tuned!!!



Best,

Ida



Ida Batista



________________________________________

Ida Batista

School Finance Manager

Maine Department of Education
23 State House Station
Augusta, Maine 04333-0023
Email: Ida.Batista at maine.gov<mailto:Ida.Batista at maine.gov>
Phone: 207-624-6795

Maine DOE<http://www.maine.gov/doe> | Facebook<https://www.facebook.com/MaineDepartmentofEducation1/> | Twitter<https://twitter.com/mdoenews> | Instagram<https://www.instagram.com/mainedepted/?hl=en> | Maine DOE Newsroom<https://mainedoenews.net/>


[cid:image001.jpg at 01DA3E5D.2C7385E0]





From: SchoolFinance <schoolfinance-bounces at maillist.informe.org> On Behalf Of Lisa Harkin
Sent: Wednesday, January 3, 2024 3:38 PM
To: Moderated information sharing for school business managers <schoolfinance at maillist.informe.org>
Subject: Re: [SchoolFinance] New Paid Family & Medical Leave - budget strategy?



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.5% from Jan-June.



But I need a line/object to book it to.  Do you think the DOE will come up with one in time, if needed?



On Wed, Jan 3, 2024 at 3:33 PM Adam Hanson <ahanson at lewistonpublicschools.org<mailto: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<mailto: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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Lisa Harkin

207-651-3407

Finance Manager
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