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UC DAVIS: ACCOUNTING & FINANCIAL SERVICES July 8, 2004 IMPORTANT, PLEASE DELIVER TO DEPARTMENTAL ACCOUNTING STAFF IMMEDIATELY DEANS, DIRECTORS, DEPARTMENT CHAIRS AND CAMPUS ADMINISTRATIVE OFFICERS RE: Unemployment Insurance Rates for 2004-05 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, 2003, indicates Unemployment Insurance reserves for General Funds, Hospital Funds and Other Funds continue to exceed target levels. Rates for these fund sources will remain at zero for 2004-05 to further reduce the reserve balances. The reserve for Federal Funds is within the target range at December 31, 2003. Effective July 1, 2004, the Federal rate is increased to .20% of covered wages, which is equal to the anticipated claim rate. Current and revised rates are as follows: General Funds 2003-04 Rate: 0% 2004-05 Rate: 0% Federal Funds 2003-04 Rate: 0.10% 2004-05 Rate: 0.20% UCDMC Funds 2003-04 Rate: 0% 2004-05 Rate: 0% Other Funds 2003-04 Rate: 0% 2004-05 Rate: 0% 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. J. Michael Allred Associate Vice ChancellorFinance/Controller 04-071
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