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<br />lot 3- Jðr.;l <br /> <br />Fiscal Impact <br />The above enhancements to the Memorandum of Understanding are within the maximum <br />authority set by the City Council. There is no increased salary cost for Fiscal Year 05~O6 <br />and 06-07. The increased cost, estimated to be $629,520.00 for the enhanced PERS <br />retirement benefit will be budgeted in the Fiscal Year 06~O7 when this benefit becomes <br />effective. The scheduled wage increases in the third and fourth year of the contract are <br />based on the Consumer Price Index, which are unknown at this time. <br /> <br />11 r¡ elL C,t{] Ù(~ ve <br /> <br />Patrick Alvarez €ò-- <br />Acting Director of Human Res urc <br /> <br /> <br />&U- <br /> <br />Ed Everett <br />City Manager <br /> <br />Attachment <br />Memorandum of Understanding for the Redwood City Management Employees <br />Association (available at the City Clerks Office) <br />