Assignment 2 Week 6 The Capital Budget

Assignment 2: The Capital BudgetCassandra Numa AmbroiseStrayer UniversityPublic Budgeting & FinancePAD 505Dr Philip NeelyMay 15, 2017Assignment 2: The Capital BudgetPayroll ForecastThe employee compensation package for Worthington City School District is made of two components. These are employee salaries and benefits. Employee benefits consist of contributions to a Workers Compensation Self-Insurance Fund at the rate of 0.8% of the payroll and contribution to Medical Self-Insurance Fund. The total employee compensation budget for Worthington City School District for 2016 is $105,503,248. This sum is made up of employee salaries at $76,056,166 and employee benefits at $29,447,082. Employee compensation can be classified into instructional services, support services and extracurricular activities. The employee compensation budgets for these classifications are $ 70,771,347, $ 32,889,554 and $1,842,347 respectively. The salary component for instructional services is $51,222,420, $23,288,529 for support services and $1,545,217 for extracurricular activities. The benefits for the three classes are $19,548,927, $9,601,025 and $ 297,130.A 2% increase in employee compensation costs would result in an increase of $1 million, and a 4% increase would result in a cost increase of $4 million and $5 Million for a 5%