Target Audiences: School Districts
Salaries & Wages
This course focuses on the six line items that relate to expenses on the Five-Year Forecast, in particular focusing on reporting and projecting expenses by utilizing the accounting system’s codes at the first level.
It is essential for every school business official to understand the various employee groups and how each are typically compensated (contract vs hourly); understand how pay schedules and the number of pays per year can impact the estimate for a fiscal year; understand the various methods of projecting salaries and wages in future years; and understand how collective bargaining agreements impact future pay.
Retirement & Insurance Benefits
This course focuses on Employees’ Retirement and Insurance Benefits, including retirement for all employees both certificated and non-certificated, workers compensation, early retirement incentives, Medicare, unemployment, pick-up, pick-up on the pick-up, and all health-related insurance benefits: health, drug, dental, and life insurance.
It is essential for every school business official to understand the difference between certificated and non-certificated retirement plans; understand which benefits are driven as a percentage of wages vs. other methods, such as premium, claims, or formula-based; understand the drivers behind retirement and insurance benefits; understand how collective bargaining agreements impact retirement and insurance benefits; understand how the timing of premium rate changes impact the fiscal year cost estimates.