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UC DAVIS: ACCOUNTING & FINANCIAL SERVICES July 20, 2005 DEANS, DIRECTORS, DEPARTMENT CHAIRS, AND ADMINISTRATIVE OFFICERS RE: Unemployment Insurance Rates for 2005-06 IMPORTANT, PLEASE DELIVER TO DEPARTMENTAL ACCOUNTING STAFF IMMEDIATELY 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, 2004, 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 2005-06 to further reduce the reserve balances. The reserve for Federal Funds is below the target range at December 31, 2004. Effective July 2005, the Federal rate will be increased to .30% of covered wages in order to cover the anticipated claim rate of 20.5% and increase the reserve to the target level. Current and revised rates for 2004-05 and 2005-06 are as follows: General Funds 0% Federal Funds .20% in 2004-05 and .30% 2005-06 UCDMC Funds 0% Other Funds 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 Chancellor-Finance/Controller 05-081
 Office of the Chancellor | Contact Information | Current Issues | Speaking Out | Staff and Organization | Philosophy of Purpose | Principles of Community | Administrative Resources Modified: 12/14/2006 12:24:46 PM Comments: |
