M-8 - Budget Projections and Issues - FY 2022

• Municipal Fire and Police Retirement System of Iowa <table> <tr> <th>Fiscal Year</th> <th>Employee</th> <th>Employer</th> <th>Total Rate</th> </tr> <tr> <td>2021</td> <td>9.40%</td> <td>25.31%</td> <td>34.71%</td> </tr> <tr> <td>2022</td> <td>9.40%</td> <td>26.18%</td> <td>35.58%</td> </tr> <tr> <td>2023</td> <td>9.40%</td> <td>23.90%</td> <td>33.30%</td> </tr> </table> • Bid/Quote Thresholds ▪ Current thresholds <table> <tr> <th rowspan="2"></th> <th colspan="2">Horizontal Projects</th> <th colspan="2">Vertical Projects</th> </tr> <tr> <th>Cities Less Than 50K</th> <th>Cities More Than 50K</th> <th>Cities Less Than 50K</th> <th>Cities More Than 50K</th> </tr> <tr> <th>Competitive Bid</th> <td>$50,000</td> <td>$72,000</td> <td>$139,000</td> <td>$139,000</td> </tr> <tr> <th>Competitive Quote</th> <td>N/A</td> <td>N/A</td> <td>$55,000</td> <td>$75,000</td> </tr> </table> ▪ January 1, 2022 <table> <tr> <th rowspan="2"></th> <th colspan="2">Horizontal Projects</th> <th colspan="2">Vertical Projects</th> </tr> <tr> <th>Cities Less Than 50K</th> <th>Cities More Than 50K</th> <th>Cities Less Than 50K</th> <th>Cities More Than 50K</th> </tr> <tr> <th>Competitive Bid</th> <td>$54,000</td> <td>$77,000</td> <td>$139,000</td> <td>$139,000</td> </tr> <tr> <th>Competitive Quote</th> <td>N/A</td> <td>N/A</td> <td>$55,000</td> <td>$75,000</td> </tr> </table> • IRS Mileage Rate ▪ 2021 Rate = 56 cents/mile (2022 Rate announced in December) • Minimum Wages ▪ State and federal hourly wage = $7.25 ▪ Must pay higher of the two when different ▪ Hourly wage for youth employees (less than 20 years of age) working less than 90 days is $6.35 ▪ HF295 – Approved in 2017 legislative session, prohibits local minimum wage ordinances • Remember to put up employment posters ▪ US Dept of Labor – FirstStep Poster Advisor: webapps.dol.gov/elaws/posters.htm ▪ Iowa Workforce Development: www.iowaworkforcedevelopment.gov/required-employer-posters • Printing Costs – set in June for next fiscal year ▪ FY 2023 o Each line of 8 Point Type, 2 inches long: 52.4 cents o Subsequent Insertion: 35.3 cents ▪ Minimum type size allowed is 6 point • Training Expenses ▪ Annual Conference (September 28-30, 2022 | Waterloo) ▪ Budget Workshops (November) ▪ Small City Workshops (June) ▪ Municipal Leadership Academy (following city election) ▪ Nuisance Abatement Conference (May) ▪ Iowa Municipal Professionals Institute/Academy (July, plus virtual options) ▪ Iowa Municipal Management Institute ▪ IaCMA Summer Conference ▪ Iowa Municipal Attorney Association Seminar ▪ IMFOA Fall/Spring Conferences