Broken Arrow City Council
Meeting of: 06/17/2019
Title:
title
Approval of the Payroll and Benefit Calendar for Fiscal Year 2019-2020
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Background:
The Payroll and Benefit Calendar for fiscal year 2019-2020 is attached for the Council’s consideration and approval. This calendar establishes the pay periods and pay dates for all regular and supplemental payrolls as required by the Code of Ordinances, personnel rules and regulations and labor agreements. Approval of the calendar also provides advance authorization for the Finance Department to pay each employee as provided in the rules and regulations and to promptly submit contributions and payments of employer paid benefits and payroll taxes that are calculated as a percentage of payroll to the appropriate entity. Funding for payroll and employer paid benefits has been appropriated in the General Fund and Municipal Authority budgets.
The employer paid benefits that are based upon a percentage of payroll and will be authorized by approval of this calendar include:
The Oklahoma Municipal Retirement Fund 10% of gross payroll;
The Oklahoma Firefighters Pension and Retirement Fund 14% of pensionable salary;
The Oklahoma Police Pension and Retirement Fund 13% of pensionable salary;
Long-term Disability benefits presently provided through UNUM 0.55% of gross payroll;
Social Security payroll taxes 6.2% of gross payroll; and,
Medicare payroll taxes 1.45% of gross payroll.
Cost: $74,823,220
Funding Source: Source
Requested By: Cynthia S. Arnold, Finance Director
Approved By: City Manager’s Office
Attachments: FY 2019-2020 Bi-Weekly Pay Schedule
Recommendation:
recommend
Approve the Payroll and Benefit Calendar for FY 2019-2020
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