FY 24-26 ADOPTED BUDGET

Employee Benefits Fund

791.2610

Division Description The Employee Benefits Fund (EBF) has captured, in one place, the City ’ s liability for leave which has been earned, but not taken. The purpose of EBF is to remove expenditure spikes from operating department budgets caused by payouts of vacation and other leave earned but not taken, thus dampening the effects on operating department budgets of the inherently episodic nature of leave payouts to employees exiting the City workforce. Each year, all funds are assessed 15% of their outstanding balance. The City budgets $1.0 million per year for leave payouts.

INTERNAL SERVICE FUNDS/MISCELLANEOUS PROGRAMS 315