DATE: July 13, 2021
TO: Board of Supervisors
SUBMITTED BY: Donald C. Kendig, CPA, Retirement Administrator
SUBJECT: Salary Resolution Amendment
RECOMMENDED ACTION(S):
TITLE
Approve Amendment to the Salary Resolution adding one Principal Accountant allocation for the Fresno County Employees' Retirement Association Org 9200, effective July 26, 2021 as reflected in Appendix D.
REPORT
There is no increase in Net County Cost associated with the recommended action. Due to the increased diversification of the Fresno County Employees' Retirement Association's (FCERA) portfolio and increased accounting pronouncements, the Accounting unit at FCERA has evolved into a more complex unit needing a manager position to oversee it. This allocation was approved by the Retirement Board, during a public hearing, on June 2, 2021.
ALTERNATIVE ACTION(S):
Your Board could choose not to approve the Salary Resolution Amendment and the FCERA's position allocation would remain unchanged.
FISCAL IMPACT:
There is no increase in Net County Cost associated with the recommended action. FCERA employees are considered County of Fresno employees, however FCERA is a legally separate organization and has a budget and Board that is separate from the County of Fresno. All costs are allocated proportionally to sponsors and employees for the administration of the pension plan.
DISCUSSION:
The Accounting unit of FCERA is a separate major unit of FCERA. Currently this unit is being managed by a Supervising Accountant. The duties and responsibilities of this position have developed beyond the Supervising Accountant's designated job duties. This position sets divisional goals and communicates and implements these goals within the unit as well as with the FCERA Administration. The Principal Accountant will plan, manage and direct the accounting staff assigned to the unit. This position coordinates the operations of the unit with other divisions, division managers, plan sponsors, external...
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