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UC DAVIS: ACCOUNTING & FINANCIAL SERVICES
June 3, 2003
IMPORTANT, PLEASE DELIVER TO DEPARTMENTAL ACCOUNTING STAFF IMMEDIATELY
DEANS, DIRECTORS, DEPARTMENT CHAIRPERSONS, AND CAMPUS ADMINISTRATIVE OFFICERS
RE: Unemployment Insurance Rates for 2003-04
Unemployment Insurance rates and reserve balances are reviewed periodically
by Accounting and Financial Services, and rate changes for the ensuing
year, when appropriate, are determined by the Campus Accounting Officer in
consultation with the Campus Budget Director.
Our review at December 31, 2002, indicates Unemployment Insurance
assessments have exceeded claims over the past several years and reserve
balances have risen above target levels in all funds. Rates will be
reduced effective July 1, 2003, and will be reviewed annually and adjusted
as necessary, until reserve balances return to desired levels.
Current and revised rates are as follows:
General Funds
2002-03 Rate: .10%
2003-04 Rate: 0%
Federal Funds
2002-03 Rate: .19%
2003-04 Rate: .10%
UCDMC Funds
2002-03 Rate: .50%
2003-04 Rate: 0%
Other Funds
2002-03 Rate: .36%
2003-04 Rate: 0%
These rate changes will reduce employee benefits expenses, but for budget
planning purposes we suggest that you continue to use the standard planning
rates (reference systemwide Contract and Grant Memo at:
http://www.ucop.edu/raohome/cgmemos/sup99-01.htm
Please contact Sharon Henn at slhenn@ucdavis.edu if you have questions.
Sincerely,
J. Michael Allred
Associate Vice Chancellor - Finance
03-062
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