AccruedPostretirementBenefitObligation $(3,539,925)
assumedtochangeatratesrangingfrom8.4%for2009,decreasing
to8.1%for2010,7.7%for2011,7.0%for2012,5.8%for2013and
2014,and5.7%for2015through2018. Thehealthcarecosttrend
Theestimatedcurrentportionoftheaccruedliabilityis
rateassumptionhasasignificanteffectontheamountsreported.
$141,697atMarch31,2008andisincludedinaccrued
Theweightedaveragediscountrateusedindeterminingthe
expenses.
accumulatedpostretirementbenefitobligationwas6.69%.
Thenetperiodicpostretirementhealthcarebenefitcost
Thefollowingestimatedbenefitpayments,whichreflectexpected
fortheyearendedMarch31,2008consistsofthefollowing
futureservice,asappropriate,areexpectedtobepaid:
components:
2009 .................... $141,697
2010 .................... 168,737
Servicecost $155,112
2011 ......................215,281
Interestcost 215,944
2012 .................... 265,073
Amortizationofpriorservicecost —
2013 .................... 299,436
Recognitionofactuarial(gain)/loss (36,991)
2014-2018 ...............1,817,744
NetPostretirementBenefitCost $334,065
FortheyearendedMarch31,2008,PEFengagedanactuaryto
Themeasurementdateusedtodeterminethe2008
computetheliabilityandothercomponentsofthepostretirement
amountswasApril1,2007. Therateofincreasewas
benefitliability. Inprioryears,PEFrecognizedthecostsofproviding
postretirementhealthinsurancebenefitsbyinternallyestimatingthe
accumulatedbenefitliability.
NEWYORKSTATEPUBLICEMPLOYEES
14. SELF-INSURANCEPLAN
FEDERATIONANDSUBSIDIARY
CONSOLIDATEDDETAILOFEXPENSES
PEFprovideshealthinsurancebenefitsutilizingaself-funded
MARCH31,2008AND2007
planthatcoverssubstantiallyallfull-timeemployees. Theliabilityfor
claimsincurredandclaimsincurredbutnotreportedwas
2008 2007
approximately$75,000forbothyearsendedMarch31,2008and
SalaryandBenefitExpenses
2007.
Salaries $ 9,011,466 $ 8,820,787
PEFhaspurchasedindividualriskandexcessriskstop-loss
Unionleave 637,261 641,632 insurancetolimititsexposuretoclaimsinexcessofspecified
Pensionexpense 1,207,238 1,184,010
amounts.
Healthinsurance 2,515,393 1,747,309
Payrolltaxes 770,923 780,550
Tuitionreimbursement 19,387 15,916
Termlifeinsurance 62,660 51,274
Dependentcare 43,583 35,053
401(k)plan 74,155 15,361 N E W Y O R K S T A T E P U B L I C E M P L O Y E E S
Long-termdisability 57,901 57,417
F E D E R A T I O N A N D S U B S I D I A R Y
Total $
_
1
_
4
__
,3
_
9
_
9
_
,9
_
6
_
7
_
$
_
1
_
3
__
,3
_
4
_
9
_
,3
_
0
_
9
_ C O N S O L I D A T E D S T A T E M E N T S O F C A S H F L O W S
M A R C H 3 1 , 2 0 0 8 A N D 2 0 0 7
StaffTravelandRelatedExpenses
Stafftravel $ 244,391 $ 293,982
2008 2 0 0 7
Automobileexpense 244,313 239,874
C a s h F l o w s F r o m O p e r a t i n g A c t i v i t i e s
Total
_
$
___
4
_
8
_
8
_
,7
_
0
_
4
_ _
$
___
5
_
3
_
3
_
,8
_
5
_
6
_ C h a n g e i n n e t a s s e t s $ 2 1 3 , 6 1 0 $ ( 5 5 3 , 6 1 5 )
A d j u s t m e n t s t o r e c o n c i l e c h a n g e i n n e t a s s e t s
ProgramRelatedExpenses t o n e t c a s h p r o v i d e d ( u s e d ) b y o p e r a t i n g a c t i v i t i e s
D e p r e c i a t i o n 4 1 7 , 7 4 3 4 2 8 , 6 3 8
Programrelatedtravel $2,154,319 $1,930,784
F o r g i v e n e s s o f p o r t i o n o f A m e r i c a n F e d e r a t i o n o f
Earnedorganizationalleave 492,172 767,567
T e a c h e r s j u d g m e n t ( 8 1 3 , 9 0 1 ) ( 8 1 4 , 4 8 8 )
Total
_
$
_
2
__
,6
_
4
_
6
_
,4
_
9
_
1
_ _
$
_
2
__
,6
_
9
_
8
_
,3
_
5
_
1
_
N e t u n r e a l i z e d a n d r e a l i z e d g a i n s ( 2 1 5 , 9 5 3 ) ( 2 9 , 6 2 3 )
G a i n o n s a l e o f f i x e d a s s e t s – ( 5 , 7 9 4 )
OperatingExpenses
( I n c r e a s e ) D e c r e a s e i n a s s e t s :
M e m b e r s h i p d u e s a n d a g e n c y s h o p f e e s r e c e i v a b l e ( 1 4 2 , 3 4 7 ) ( 4 8 , 7 4 8 )
Advertising $ 398,194 $ 898,595
O t h e r r e c e i v a b l e s ( 5 3 , 6 7 6 ) ( 6 9 , 2 9 1 )
Officerentandparking 653,320 604,146
P r e p a i d e x p e n s e s 5 3 , 4 6 5 ( 4 3 , 8 9 3 )
Professionalandconsultantfees 275,410 506,272
O t h e r a s s e t s ( 3 1 , 1 5 8 ) 6 8 , 1 3 5
Postage 515,668 467,352 I n c r e a s e ( D e c r e a s e ) i n l i a b i l i t i e s :
Politicalandassociatedcontributions 231,131 450,591 A c c o u n t s p a y a b l e a n d a c c r u e d e x p e n s e s 2 9 4 , 2 3 2 ( 3 2 4 , 9 3 4 )
Printing 383,737 379,136 E a r n e d o r g a n i z a t i o n a l l e a v e 2 9 5 , 6 7 4 ( 1 0 1 , 0 9 5 )
Telephoneandcommunications 211,914 269,851
A c c r u e d v a c a t i o n 1 0 6 , 0 0 2 8 5 , 9 8 9
Arbitration 172,681 252,804
A c c r u e d p o s t - r e t i r e m e n t b e n e f i t s 8 6 3 , 1 7 9 2 4 0 , 1 5 9
Officesupplies 112,392 139,254
D i v i s i o n a l d i s t r i b u t i o n s p a y a b l e 1 9 0 , 9 1 7 ( 6 1 , 8 2 0 )
Reproduction 88,296 106,824
D e f e r r e d r e v e n u e 7 5 0 ( 1 , 3 0 6 )
Utilities 126,369 108,917
N e t C a s h P r o v i d e d ( U s e d ) b y O p e r a t i n g A c t i v i t i e s 1 , 1 7 8 , 5 3 7 ( 1 , 2 3 1 , 6 8 6 )
Realestatetaxes 112,613 103,818 C a s h F l o w s F r o m I n v e s t i n g A c t i v i t i e s
Maintenanceandrepairs 126,748 101,043
P u r c h a s e o f i n v e s t m e n t s ( 5 , 3 1 6 , 7 1 9 ) ( 5 5 5 , 4 2 0 )
Charitableandothercontributions 62,119 96,749
P r o c e e d s f r o m s a l e o f i n v e s t m e n t s 1 , 2 7 4 , 3 3 1 6 8 7 , 5 9 0
Insurance 92,338 93,303
P r o c e e d s f r o m s a l e o f f i x e d a s s e s t – 5 , 7 9 4
Booksandreferencematerial 95,153 88,388 E x p e n d i t u r e s f o r p r o p e r t y , p l a n t a n d e q u i p m e n t ( 3 0 4 , 4 5 6 ) ( 1 8 5 , 5 1 1 )
Janitorial 72,999 68,870 N e t C a s h ( U s e d ) b y I n v e s t i n g A c t i v i t i e s ( 4 , 3 4 6 , 8 4 4 ) ( 4 7 , 5 4 7 )
Computerfees 51,747 49,429
C a s h F l o w s F r o m F i n a n c i n g A c t i v i t i e s
Miscellaneous 36,270 45,705
P r i n c i p a l p a y m e n t s o n c a p i t a l l e a s e s p a y a b l e ( 1 4 4 , 4 8 8 ) ( 1 0 9 , 0 8 0 )
Scholarships 42,200 39,000
Stenoandtranscriptfees 13,475 31,079
N e t ( D e c r e a s e ) i n C a s h a n d C a s h E q u i v a l e n t s ( 3 , 3 1 2 , 7 9 5 ) ( 1 , 3 8 8 , 3 1 3 )
Outsidetemporaryhires 8,296 25,123 C a s h a n d C a s h E q u i v a l e n t s , B e g i n n i n g o f Y e a r 5 , 0 0 7 , 3 5 0 6 , 3 9 5 , 6 6 3
Minorequipmentpurchases 11,479 10,940
Equipmentrental 7,145 11,761
C a s h a n d C a s h E q u i v a l e n t s , E n d o f Y e a r
_
1
_ _
, 6
_
9
_
4
_
, 5
_
5
_
5
_ _
5
_ _
, 0
_
0
_
7
_
, 3
_
5
_
0
_
Outsidelegalfees 2,612 5,649 S u p p l e m e n t a l I n f o r m a t i o n :
Photographicsupplies 1,568 2,099 C a s h p a i d f o r i n t e r e s t _ $ _ _ _ 7 _ 6 _ , 4 _ 4 _ 6 _ _ $ _ _ 1 _ 1 _ 1 _ , 4 _ 3 _ 3 _
COPEexpense 137,529 78,297
Total
_
$
_
4
__
,0
_
4
_
3
_
,4
_
0
_
3
_ _
$
_
5
__
,0
_
3
_
4
_
,9
_
9
_
5
_ S e e a c c o m p a n y i n g n o t e s t o c o n s o l i d a t e d f i n a n c i a l s t a t e m e n t s .
www.pef.org TheCommunicatorFebruary2009—Page21
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