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Excess Cost Estimate

On May 12th, we provided an estimate for the 2015-16 Excess Cost.  With our apologies, we must revise that estimate upwards.  On May 12th we had not completed budget development and we therefore estimated the cost by adjusting the current year estimate only.  After finalizing our budget, we must revise the estimate upwards by approximately $900,000.  This amount anticipates no increase in staff but does reflect an increase in the STRS, Workers' Compensation, Step & Column and fully loaded health and welfare benefits and other salary cost increases. 

By now we have spoken with most of you on the phone to make you aware of this increased estimate.  We hoped to be able to get this information before you finalized all of your budgets.