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Redwood City is a service organization and the vast majority, approximately 6.1.F. - Page 2 <br />Redwood City's expenses is personnel costs. By making fundamental changes in how <br />these expenses are funded, both short and long -term savings are achieved, while <br />maintaining a fiscally- sound, equitable, and sustainable compensation program for <br />employees. <br />Alternative <br />Direct staff to continue negotiations with RCMEA. <br />Fiscal Impact <br />The proposed changes are within the parameters established by the City Council. The <br />new contracts with all the bargaining units (including RCMEA) are expected to result in FY <br />2011 -12 savings of $1,990,357 and FY 2012 -13 savings of $2,536,891. Cumulative new <br />savings in the two -year budget cycle are $4,527,248. In FY 2013 -14 there will be <br />additional savings that will be calculated and presented in next year's budget. Further <br />ongoing savings to the City will accrue as new employees are hired under the second -tier <br />retirement formulas. <br />Gary Rogers <br />Interim Human Resources Director <br />Robert B. Bell <br />City Manager <br />Attachment <br />Tentative Agreement RCMEA <br />Page 2 <br />