This report covers the submitted LAR document and attempts to summarize the priorities and changes in the aforementioned Legislative Appropriations Request.
Notes: The State Pension Review Board will be referred to as “PRB” or as “The Board” throughout this report. Legislative Appropriations Request will be referred to as “LAR.” Exceptional Item Request will be referred to as “EIR.”
Background
The PRB had a total FY 2020-21 appropriation of $2,257,498, 91% of which was dedicated to full-time staff salaries. The PRB has 13 full-time equivalents (FTEs), but only 12 employees at the moment. To meet the Governor’s 5% reduction mandate, the Board will leave this 13th position empty, but will also refrain from offering any merit-based salary raises to current staff in FY 2022-23.
Appropriations, Exceptional Item Requests, and Riders
PRB is requesting $2,144,623 for FY 2022-2023. Funds would be sourced from General Revenue. This is consistent with and unchanged from their FY 2020-21 budget.
PRB is also making one Exceptional Item Request, amounting to $112,875 to restore the base funding of the agency cut by the Governor’s 5% reduction mandate. This would allow The Board to fill their 13th FTE.
The single rider attached to the FY 2020-21 budget was removed for this LAR due to that rider program expiring in FY 20-21. There are no additional riders attached to this budget request.