COBI 2015 - Elected Official Post-Retirement Benefits Contribution

Overview
Issues
Performance
Financials

Sources Uses

FY 2016 Appropriation

During the 2012 General Session, the Legislature eliminated the governor and legislator's post-retirement health care benefits for new governors and legislators and established the Elected Official Post-Retirement Benefits Trust Fund for the purpose of investing funds for existing governor and legislator post-retirement health care benefits. The Legislature also authorized the board of trustees for the State Post-Retirement Benefits Trust Fund to serve as trustees for the Elected Official Post-Retirement Benefits Trust Fund and established procedures for the investment of and expenditures from the trust funds. This action was accomplished through passage of SB 156, "Elected Official Retirement Benefits Amendments".

Funding History

Appropriation Overview

During the 2015 General Session, the Legislature appropriated for Fiscal Year 2016, $1,387,600 from all sources for Elected Official Post-Retirement Benefits Contribution. This is a 443.7 percent increase from Fiscal Year 2015 revised estimated amounts from all sources. The total includes $1,387,600 from the General/Education Funds, a change of 0 percent from revised Fiscal Year 2015 estimates.

Display By:

Funding Source

Expenditure Category

Appropriation Type:

Appropriation History by

Programs	FY11 Actual	FY12 Actual	FY13 Actual	FY14 Actual	FY15 Approp	FY15 Change	FY15 Revised	FY16 Change	FY16 Approp
Elected Official Post-Retirement Trust F	0	3,469,900	2,030,000	(226,600)	1,387,600	(1,791,300)	(403,700)	1,791,300	1,387,600
Total	$0	$3,469,900	$2,030,000	($226,600)	$1,387,600	($1,791,300)	($403,700)	$1,791,300	$1,387,600

Sources of Finance	FY11 Actual	FY12 Actual	FY13 Actual	FY14 Actual	FY15 Approp	FY15 Change	FY15 Revised	FY16 Change	FY16 Approp
General Fund	0	0	2,030,000	2,030,000	1,387,600	0	1,387,600	0	1,387,600
General Fund, One-time	0	2,030,000	0	0	0	0	0	0	0
Beginning Nonlapsing - Finance - Mandate	0	1,439,900	0	0	0	0	0	0	0
Beginning Fund Balance	0	0	0	5,039,500	0	7,296,100	7,296,100	(7,296,100)	0
Ending Fund Balance	0	0	0	(7,296,100)	0	(9,087,400)	(9,087,400)	9,087,400	0
Total	$0	$3,469,900	$2,030,000	($226,600)	$1,387,600	($1,791,300)	($403,700)	$1,791,300	$1,387,600

Show Table | Show Additional Information

Categories of Expenditure	FY11 Actual	FY12 Actual	FY13 Actual	FY14 Actual	FY15 Approp	FY15 Change	FY15 Revised	FY16 Change	FY16 Approp
Other Charges/Pass Thru	0	3,469,900	2,030,000	(226,600)	1,387,600	(1,791,300)	(403,700)	1,791,300	1,387,600
Total	$0	$3,469,900	$2,030,000	($226,600)	$1,387,600	($1,791,300)	($403,700)	$1,791,300	$1,387,600

COBI contains unaudited data as presented to the Legislature by state agencies at the time of publication. For audited financial data see the State of Utah's Comprehensive Annual Financial Reports.