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UC DAVIS: ACCOUNTING & FINANCIAL SERVICES June 27, 2008 DEANS, DIRECTORS, DEPARTMENT CHAIRS, AND ADMINISTRATIVE OFFICERS RE: Unemployment Insurance Rates for 2008-09 Unemployment Insurance rates and reserve balances are reviewed periodically by Accounting and Financial Services. 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, 2007, indicates Unemployment Insurance reserves for Federal Funds and Other Funds exceed target levels. Rates for Other Fund sources will remain at zero for 2008-09 to further reduce the reserve balances. Rates for Federal Funds will be reduced by .20% to .10% to reflect the increase in reserves. The reserve for General Funds and Hospital Funds are below the target range at December 31, 2007. Effective July 1, 2008, the General Fund rate will be increased to .20% of covered wages in order to cover the anticipated claim rate of 10.6% and increase the reserve to the target level. The Hospital Funds rate will be increased to .20% of covered wages in order to cover the anticipated claim rate of 14.0% and increase the reserve to the target level. Current and revised rates for 2007-08 and 2008-09 are as follows: General Funds 0% in 2007-08 and .20% in 2008-09 Federal Funds .30% in 2007-08 and .10% in 2008-09 UCDMC Funds 0% in 2007-08 and .20% in 2008-09 Other Funds 0% in 2007-08 and in 2008-09 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 Susan Moore, Associate Accounting Officer, 530-757-8518 or by email at smmoore@ucdavis.edu if you have any questions. J. Michael Allred Associate Vice Chancellor-Finance/Controller 08-047
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