Belt-Tightening–More Budget Adjustments

Calculate dollar impact
Total Amount 454,401.53
Fringe Benefits 131,776.44
Vocation Relief Coverage 2,000.00
Sign-in Bonuses 10,000.00
Total Personnel cost $ 598,177.97
Budget Summary
Personnel Costs 598,177.97
Equipment 75,374.00
Supplies 59,719.00
Services 42,850.00
Cost Transfers 4,960.00
Total $ 781,080.97
$790,527.00 – $ 781,080.97 =$ 9,446.03
Annual savings if all hourly staff were reduced from 40 to 37.5 hours as their standard workweek
Total Amount 443,049.84
Fringe Benefits 128,484.45
Vocation Relief Coverage 2,000.00
Sign-in Bonuses 10,000.00
Total Personnel cost $ 583534.30

To get the annual savings, subtract the current personnel cost from the original cost.
Annual Savings = $ 607,624 – $ 583,534.30 = $ 24,086
Dollar impact when the pay increase and hourly staff reduction were implemented together
Total Amount 436,025.88
Fringe Benefits …