FISCAL IMPLICATIONS: This program was eliminated in 2014 due to its significant and increasing cost to the University. Projected cost for fiscal year 2018-2019 for the credit is approximately $260,000. In addition, a liability for future credits would be created on the University's financial statements, further reducing the University's fund balance.
If reinstated, this liability will grow as pension rates and actuarial cost calculation increase. These increases would be in addition to the cost increases exceeding $2.5 million projected over the next two fiscal years.
ATTACHMENTS: Faculty Senate Action Tracking Document
RECOMMENDATION: Do not approve the request to Reinstate the Sick Leave Credit with KTRS.