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A
Okay,
thank
you
very
much
good
morning.
Everyone
let's
go
ahead
and
call
the
meeting,
assemblyways
and
means
and
senate
finance
joint
committee
for
today
to
order.
If
I
could
please
have
the
committee
secretary
call
the
role.
C
D
D
A
And
I
am
here
good
morning,
everyone
happy
friday.
Please
remember
to
mute
all
of
your
devices,
all
the
standard
disclosures
we
everyone
knows
that
we
are
meeting
virtually
and
that
they
needed
to
register
ahead
of
time.
We
have
two
budget
hearings
today
for
the
secretary
of
state
and
the
public
employees
retirement
system.
A
With
that,
I
believe
we
have
the
secretary
of
state
up
first,
madam
secretary,
if
you're
out
there,
if
you
would
like
to
go
or
whoever's
representing,
would
like
to
go
ahead
and
be
queued
up
and
also
committee
members
and
and
for
the
public.
The
committee
will
be
meeting
at
9
00
a.m.
On
monday,
we
just
have
one
budget
and
there's
a
lot
of
work
to
get
done
monday
morning,
so
the
committee
will
be
meeting
at
9
00
a.m.
A
So,
in
the
eject
you
will
see
the
agendas
change
today,
so
nine
o'clock
here
we
go
so
with
that.
Madam
secretary,
are
you
there?
I.
F
F
F
Additional
duties
have
been
added
over
time
and
include
chief
officer
of
elections,
recorder
of
business
entity,
filings
register
for
notaries,
public
and
administrator
of
the
uniform
securities
act,
the
silverflume
business
portal
and
document
preparation,
services,
nevada,
lockbox,
domestic
partnership
programs
as
well.
The
secretary
of
state
serves
on
the
various
boards
and
commissions
listed
here,
and
I
won't
read
them,
but
there
they
are
my
favorite
one
is
trpa,
and
that
is
the
tahoe
regional
planning
agency.
F
With
that,
the
office
of
the
secretary
of
state
is
organized
into
eight
main
divisions.
A
lot
of
people
don't
know
that
they
think
we're
only
elections,
the
commercial
recordings
division,
the
business
portal
division,
the
domestic
partnership,
nevada,
lockbox
document,
preparation,
services,
division,
the
executive,
administrative
division,
the
elections,
division,
the
notary
division,
the
operations
division
and
the
securities
division.
F
Our
main
offices
are
located
in
carson
city
in
the
capitol
building,
the
myers
annex
and
the
blaisdell
building.
We
also
have
an
office
in
city
hall
in
north
las
vegas,
normally
in
person,
customer
service
such
as
picking
up
forms
or
paying
fees,
are
available
in
both
the
carson
city
and
las
vegas
offices.
However,
our
office
have
have
been
closed
to
the
in-person
counter
services
since
the
beginning
of
the
declaration
of
emergency.
F
G
G
G
I
would
be
remiss
if
I
did
not
address
the
fiscal
impacts
of
the
cobit
19
pandemic
on
the
agency
that
began
last
year
and
will
continue
at
least
through
the
next
biennium.
An
awareness
of
how
we
adapted
to
these
challenges
in
2020
will
help
ensure
an
informed
discussion
regarding
our
requirements
going
into
the
next
biennium.
G
G
G
The
pandemic
has
also
emphasized
how
closely
we
must
compete
with
other
states
for
corporation
services.
We
have
watched
closely,
as
other
states
have
adjusted
their
rates
and
fees
in
an
effort
to
attract
business
filings.
This
effort
will
likely
continue
for
some
time,
as
every
state
looks
for
ways
to
increase
their
revenue.
G
The
office
of
the
secretary
of
state
serves
as
the
collector
for
various
fees,
fines
and
penalties.
These
range
from
filing
and
license
fees
with
the
commercial
recordings
division
to
broker
dealer
license
fees
with
the
securities
division,
the
candidate
filing
fees
for
the
elections,
division
to
fees
related
to
the
document,
preparation
services
and
domestic
partnership
programs.
G
The
majority
of
the
revenue
collected
by
the
office
of
the
secretary
of
state
goes
to
support
the
general
fund
in
fiscal
year.
2020
the
office
collected
revenue
of
209.7
million
dollars
of
that
total
209.2
million
or
99.8
percent
went
to
the
general
fund
this
place
is
the
office
of
the
secretary
of
state
is
the
third
highest
general
fund
revenue
generating
agency
in
the
state.
G
Slide
8
shows
the
total
general
fund
revenue
collected
by
the
office
of
the
secretary
of
state
over
the
last
12
fiscal
years.
As
the
chart
shows,
the
total
amount
of
general
fund
revenue
collected
each
year
by
the
secretary
of
state's
office
continues
to
increase
until
fiscal
year
2020.,
since
the
administration
of
state
business
license
program
was
added
to
our
office
in
fiscal
year,
2010
total
general
fund
revenue
collected
by
the
office
has
grown
steadily
at
an
average
of
3
percent
for
fiscal
year,
starting
in
april
and
may
2020.
G
A
combination
of
businesses
renewing
at
a
lesser
rate
and
the
moratorium
on
late
fees
also
contributed
to
a
reduction
in
revenue.
In
fiscal
year
2020
we
experienced
the
first
decline
in
12
years
due
to
decreased
filings
and
renewables
in
april
to
june,
due
to
the
coven
19
pandemic
and
state
of
emergency.
G
G
G
Next
is
the
securities
division
at
14.4.
Together
the
commercial
recordings
division
in
the
securities
division
made
up
98.3
percent
of
the
total
general
fund
revenue
collected
by
our
office
in
fiscal
year
2020..
The
remaining
two
percent
came
from
uniform
commercial
code
or
ucc
fees,
the
notary
division
and
the
elections.
G
The
next
slide
compares
general
fund
revenue
collections
by
the
office
over
the
last
12
years
in
blue
to
the
legislatively
approved
general
fund
appropriation
amount
for
the
office
over
the
same
time
period
in
orange.
The
general
fund
revenue
collected
by
the
office
plays
a
crucial
role
in
the
state's
total
general
fund
budget.
G
This
slide
on
revenue
collection
shows.
This
last
night
include
general
tv.
This
last
slide
on
revenue.
Collection
shows
the
growth
in
general
fund
revenue
collected
by
the
office
for
approved
full-time,
equivalent
or
fte
position
until
fiscal
year
2020.
When
we
experience
the
decline
due
to
covet
19
late
in
the
year
with
a
high
number
of
positions
held
vacant
due
to
the
pandemic
related
budget
cuts,
actual
revenue
per
fill
positions
would
be
significantly
higher
than
if
based
on
approved
positions.
G
The
office
of
the
secretary
of
state
currently
has
two
primary
executive
budget
accounts
budget
account,
1050
and
1051.
budget
account.
1050
contains
the
general
operating
budget
of
the
office
and
is
primarily
funded
by
the
general
fund.
Other
minor
funding
sources
for
this
budget
account
include
domestic
partnership,
registration
fees,
security,
fines
and
penalties,
and
other
miscellaneous
program
fees.
G
Nevada
was
awarded
approximately
nine
million
dollars
from
the
hobbit
grant
in
fiscal
year,
2019
and
2020
for
the
purpose
of
enhancing
election
security.
In
the
2020
java
election
security
grants
award
packet,
the
u.s
elections,
assistance
commission,
the
eac
dispensed
grant
funds
with
the
stipulation
that
funds
must
be
expended
on
election
security
related
enhancements.
G
The
table
on
this
slide
shows
the
office
of
the
secretary
of
state's
general
fund
budget
account
1050
request
for
the
22
to
23
biennium.
This
table
breaks
down
our
base
budget
maintenance,
offsets
which
mostly
include
the
removal
of
one
time
or
non-reoccurring
expenditures
from
our
budget;
a
requested
budget
enhancements
and
other
statewide
enhancement
units
in
total.
G
The
officer
is
requesting
general
fund
enhancement,
appropriations
of
seventeen
million,
eight
hundred
and
fifty
eight
thousand
seven
hundred
and
seventy
nine
dollars
in
fy
twenty
two
and
twenty
million
six
hundred
and
eighty
three
thousand
four
hundred
and
seventeen
dollars
in
fy23
for
a
total
biennium
enhancement,
request
of
thirty
eight
million
five
hundred
and
forty
two
thousand
one
hundred.
Ninety
six.
G
G
The
hardware
and
software
at
both
sites
must
be
compatible
in
order
to
provide
disaster
recovery
services
e-225.
This
decision
unit
requests
1
million
214
832
over
the
biennium
to
fund
enhancement
hours
needed
to
support
our
new
commercial
recordings
processing
system
that
went
live
on
july,
19th,
2019,
e226
maintenance
and
support
for
civics
or
pcc.
G
This
decision
unit
requests
three
hundred
ninety
seven
thousand
six
hundred
and
fifty
seven
dollars
over
the
biennium
to
fund
ongoing
maintenance
and
support
for
our
new
system
that
went
live
in
july.
19Th
2019..
Please
note
that
the
new
civic
system
supports
more
than
175
million
dollars
in
general
fund
revenue
annually.
G
Slide
16
lists
our
minor
enhancement
units.
The
first
three
enhancements
are
being
requested
due
to
copic
19..
The
sudden
and
rapid
increase
in
coveted
19
cases
began
in
march
2020,
but
cases
have
been
growing
across
the
united
states
as
early
as
january
of
2020.
as
the
risk
of
community
infection
increased.
The
looming
fiscal
impacts
became
more
apparent
secretary
of
state
sugasky,
directed
a
moratorium
on
all
agency
travel,
in-person
meetings,
conferences
and
events.
This
resulted
in
a
number
of
important
budgeted
items
not
being
expended
in
the
base
year.
G
G
G
G
G
e232.
This
decision
unit
requests
twenty
thousand
percent
dollars
per
fiscal
year.
This
request
funds
two
expert
witnesses
for
two
cases
per
calendar
year.
This
is
a
routine
previously
unbudgeted
requirement
that
directly
supports
case
fulfillment.
Expert
witnesses
are
often
requested
by
the
prosecuting
attorney
in
complex
criminal
cases.
G
This
cost
has
been
previously
spent
split
between
our
office
and
the
office
of
the
attorney
general
e234.
This
decision
unit
requests
5842
dollars
per
fiscal
year.
The
north
american
securities
administrator
association
training
conference
is
a
three-day
long
training
opportunity
that
has
speakers
from
other
nasa
jurisdictions,
the
fbi
and
numerous
law
enforcement
entities.
G
Five
of
our
seven
criminal
investigators
are
new
to
securities
and
will
benefit
greatly
from
the
shared
expertise
and
training
of
the
nasa
community
e235.
This
decision
unit
requests
three
thousand
and
six
hundred
dollars
per
fiscal
year.
A
common
recommendation
of
the
department
of
homeland
security
assessment
teams,
as
well
as
the
advice
from
numerous
agencies,
seminars,
security
classes
and
industry
best
practices-
is
that
we
keep
our
software
and
application
patching
as
current
as
possible
to
enhance
the
hardened
nature
of
our
systems.
G
This
decision
unit
requests
four
thousand
and
eighteen
dollars
per
fiscal
year
to
fund
the
annual
maintenance
costs
for
an
appointment,
kiosk
purchased
during
the
coca-19
pandemic.
This
kiosk
reduces
the
risk
to
both
employees
and
customers
alike
and
enables
enhanced
social
distancing.
This
will
be
an
important
part
of
our
efforts
to
ensure
the
safety
of
our
customers
and
staff
alike,
as
we
hopefully
begin
to
reopen
to
in-person
visits
in
fy22.
G
G
A
A
Thank
you
all
right.
I
know
there
are
questions
on
10
50.
so,
but
before
we
get
into
in
depth
on
on
1051,
let's
go
ahead
and
take
care
of
item
1050..
So,
ms
howard,
he
had
a
couple
of
questions
to
start
so
miss
out
again.
I
did
thank
you,
madam.
D
Chair
good
morning,
everyone,
I
have
just
some
questions
on
decision
unit
e-225.
D
So
I
know
that
in
2017
we
approved
6.2
million
for
senuiti,
which
you
mentioned,
went
live
in
2019,
so
it's
fairly
new,
and
so
my
my
questions
are
just
once
annuity.
Since
it
just
went,
live
in
2019
and
we're
asking
for
enhancements.
D
Did
the
vendor
fulfill
its
contract
deliverables
completely
for
the
project
and
then,
if
they
did,
then
can
you
walk
me
through
the
enhancements
that
we
need,
since
it's
such
a
new
project,
and
will
these
be
ongoing
enhancements.
F
This
is
barbara
sagaski
and
I
I
would
like
to
address
that
and
then
turn
it
over
to
kim
perandi,
who
is
the
head
of
that
division
and
we
can
go
into
it
a
little
bit
further.
Thank
you
very
much
for
the
question.
Assemblywoman
hatagi
and
you
know
we.
We
must
improve
how
we
do
our
our
projects
and
how
we
do
the
contracts,
that's
very
important
for
us
and
I'm
going
to
let
kim
frondy
talk
a
little
bit
about
this.
F
If
you
don't
mind
because
we've
been
working
this
since
I've
been
in-
and
I
know
that
it
was
requested
before
I
came
into
office,
so
there
are
issues
with
vendors,
but
my
main
thing
is
looking
at
the
contracts,
but
just
so
you
all
know
that
we,
even
though
we've
gone
through
some
difficult
times
this
project
we
are
kind
of
in
that
tickle
place
where
you
have
to
stay,
and
you
have
to
keep
the
vendor
because
we've
invested
so
much
in
where
we
are
but
I'll,
let
kim
perendi
and
then,
if
scott
anderson
has
any
input.
B
Good
morning,
everyone,
I
am
kim
perandi
deputy
secretary
for
commercial
recordings,
the
the
original
tire
for
this
project
was
submitted
and
approved
in
2015.,
the
original
request
was
21.8
million
dollars.
The
approved
amount
for
the
tire
was
12.1
million
dollars,
and
then
we
were
allowed
and
approved
in
our
budget
9.4.
B
So
the
contract
total
amount
was
just
over
nine
million
dollars
and
it
was
targeted
to
go
live
in
at
the
end
of
2000,
and
let
me
get
my
dates
right
2018.
B
the
project
did
was
delayed
and
got
pushed
out
about
six
months.
We
went
live.
Pardon
me
in
july
of
2019
and
with
any
it
project
of
this
magnitude
there
there
are
always
going
to
be
bugs
that
come
with
it
when
it
goes
live.
There
also
will
be
some
things
that
we
recognize
that
we
missed
when
we
were
building
our
requirements
or
that
were
misinterpreted
when
the
vendor
built
it.
B
We
did
and
we
continue
to
have
some
struggles
with
the
system,
but,
as
the
secretary
said,
it
is
functioning
and
thank
goodness,
because
cobin
19
really
set
us
back
when
we
had
to
close
our
offices.
So
all
of
our
services
were
available
online
and
continue
to
be,
and
we
work
very
very
hard
to
provide
the
best
customer
service
we
can.
When
the
system
is
experiencing
any
difficulties,
we
average
about
1500
transactions
a
day
through
silver
flume.
The
end
of
the
month
is
a
heavy
time
for
us.
B
So
during
those
last
five
days
of
the
month,
every
month
we
average
just
over
three
thousand
transactions
a
day,
trying
to
think
and-
and
as
mr
velashan
pointed
out
this,
this
is
the
commercial
recordings
processing
system,
the
highest
revenue
generating
application
that
we
have
in
the
agency
just
over
a
million
transactions
every
year
that
we
process
through
this
and
over
175
million
dollars
in
revenue.
So
we
we
are
dependent
on
this.
Now
we
are
a
year
and
a
half
into
it,
and
it
is.
D
Go
ahead,
miss
out
again,
okay,
cause
that
that
answered.
Like
half
of
my
question,
so
it
sounds
like
you
said,
these
are
improvements
to
the
systems
that
were
not
part
of
the
original
contract,
so
these
enhancements
weren't
part
of
the
original
contract,
but
was
the
original
contract
completely
fulfilled
by
the
vendor?.
B
B
We
kim
perandi
for
the
record
these
enhancements
are
ongoing,
we're
asking
for
the
the
money
to
be
used
over
the
biennium,
because
it's
hard
to
time
out
exactly
what
we
can
do,
each
biennium
and
hopefully
beyond
this
biennium.
We
won't
have
any
further
requests
unless
there's
any
updates
to
other
applications
that
integrate
with
this.
D
B
Kim
perandi
for
the
record,
so
we
do
have-
and
I
I
believe
the
spreadsheet
was
submitted
with
the
budget
request.
So
I
can
share
this
with
the
committee.
If
you
don't
have
it,
it
is
quite
a
large
list,
but
I'll
just
kind
of
give
you
some
ideas
of
the
enhancements.
B
It
would
include
additional
help
for
the
customer
in
understanding
the
directions
in
each
screen.
What
information
they
need
to
put
in
there,
so
it
would.
It
would
include
help
screens
like
that.
It
would
also
cover
items
that
we
we
missed,
that
we
just
didn't
have
in
in
the
application
certain
filing
types
or
certain
screens
certain
signature
lines.
Things
like
that.
A
And
thank
you
miss
haudegee.
I
have
some
other
questions
so
I'll
go
to.
I
have
like
four
or
five
people
in
the
queue.
So
please
try
to
keep
your
questions
brief.
If
possible.
Mr
roberts
you're
next.
D
Thank
you,
madam
chair,
on
your
permanent
position,
removal,
a
seven
positions.
C
What
kind
of
impact
do
you
think
that's
going
to
have
on
your
ability
to
collect
revenue,
since,
since
some
of
those
positions
are
directly
involved.
F
It's
all
right,
madam
chair
I'll,
have
mark
veloson
go
into
some
detail
on
that.
Thank
you
for
the
question.
G
Thank
you
for
the
chair,
the
question
mark
lawson,
deputy
secretary
of
state
for
elections
for
the
record,
so
eight
positions,
I'd
like
to
summarize
and
in
general,
say
that
all
of
them
are
going
to
impact
the
agency
in
one
way
or
the
other.
Unfortunately,
beyond
that
the
positions
are
actually
spread
across
our
divisions.
G
So
out
of
the
eight
excuse
me,
for
example,
two
of
them
are
in
our
commercial
recordings
division.
Two
of
them
are
I.t
related
positions,
ones
and
securities
ones
in
domestic
partnerships,
ones
in
elections
and
ones
in
our
operations.
Division.
G
In
regards
to
the
specific
question
assemblyman
roberts,
which
one
of
these
or
how
are
they
going
to
affect
revenue
generation,
the
bottom
line
is,
is
the
lack
of
all
of
them
will
certainly
affect
the
agency,
but
it's
not
as
easy
as
being
able
to
say
a
removal
of
one
position
is
going
to
be
a
reduction
in
state
revenue
by
x
dollars.
Unfortunately,
the
reality
is
with
an
agency.
That's
only
141
positions.
Every
position
is
vital.
G
Every
position
supports
every
other
position
so
by
having,
for
example,
the
two
positions
in
commercial
recordings
that
that's
a
significant
amount.
More
people
that
would
be
able
to
answer
phones
for
the
customers
be
able
to
respond
to
emails,
increase
the
timeliness
of
how
we
get
back
to
them.
The
it
positions
a
little
bit
more
effective
in
responding
to
bugs
that
are
identified,
supporting
the
needs
of
the
agency
across
the
board
and
what
those
employees
are
doing.
If
there's
only
one
it
person
instead
of
two,
for
example,
again,
there's
less
response
time.
G
That
means
people
won't
be
able
to
work
at
their
workstations
as
quickly
which
again
ultimately
affects
the
customers
and
the
revenue
generation
as
a
whole.
So,
while
I
know
eight
positions
may
not
sound
like
a
lot
to
other
agencies,
perhaps
I
will
say
that
across
the
board,
for
all
eight
of
those,
there
is
a
significant
impact
that
the
agency
is
going
to
experience
and
more
directly,
that
our
customers
are
going
to
experience
and
with
the
situation
as
it
is.
G
As
I
previously
mentioned,
those
sorts
of
issues,
those
sorts
of
you
know
irritants
ultimately
may
drive
some
of
our
customers
out
of
our
state
and
into
other
places.
If
they're
going
to
do
commercial
filings
or
the
like.
Does
that
answer
your
question.
D
A
Here
welcome
mr
roberts.
So
with
that
miss
don
darrell
lou,
a
senator
dunder
lube
did
you
have
a
question
or
have
your
questions
been
answered.
D
I
do
have
a
couple
questions.
Okay,
so
thank
you
very
much
for
this
information
secretary
and
all
of
you
that
have
given
to
us.
I
think
that
you
have
gone
over
the
one
question
I
had
about.
What's
going
to
happen
if
we
lose
full-time
staff,
but
would
you
please
tell
us
about
the
benefits
to
this
statewide
election
process
by
continuing
these
workshops-
and
I
think
you
said
this-
but
I'm
not
sure
where
would
the?
Where
were
those
workshops
going
to
be
held.
F
If
I
can,
madam
chair
I'd
like
to
have
mark
velasco,
talk
about
that,
he
he
does
and
the
elections
division
does
the
training
for
and
again
we
have
them
at
different
places
where
everyone
can
centrally
locate,
and
I
might
add,
though,
that
we
want
to
recommend
to
the
chair
and
to
the
committee
members
if
we
can,
that
we'd
rather
have
a
freezing
than
the
cuts
to
these
positions,
if
that's
possible.
So
with
that,
if
I
could
have
mark
velocion
answer
the
questions
for
senator.
G
Perfect,
thank
you
for
the
question
senator
mark
velasco,
deputy
secretary
of
state
for
elections
for
the
record,
the
workshops
well,
first
I'll
talk
a
little
bit
about
them
in
the
merit
they
provide
to
the
state
as
a
whole.
G
I
guess
even
more
directly,
I
can
answer
your
question
about
the
location
they
rotate,
typically
between
reno
or
down
in
las
vegas,
going
forward.
The
current
plan
is
potentially
reno,
though
I
will
let
you
know
that
we're
looking
very
critically
at
which
location
ultimately
would
be
the
cheapest
in
the
interest
of
saving
the
counties
and
the
state
money.
G
So
there
are
some
options
there,
but
generally
back
and
forth
between
reno
and
las
vegas
in
regards
to
the
merit
for
these
workshops,
so
we
time
them
very
deliberately
after
the
session,
so
that,
based
on
what
changes
come
to
title
24
out
of
the
legislative
session,
we're
able
to
make
sure
that
all
of
us
collectively
the
17
clerks
they're.
G
These
are
also
opportunities
for
us
to
invite
guest
speakers
to
come,
provide
information
to
the
the
clerks
and
the
state
elections,
division
staff
on
such
critical
topics
as
election
security.
G
This
previous
workshop,
that
was
virtual,
had
a
pretty
heavy
emphasis,
as
you
can
imagine,
on
elections
in
cyber
security,
the
sort
of
thing
that
translated
very
directly
into
actionable
tasks
for
the
county
clerks
and
the
elections,
division
staff
in
preparation
for
the
2020
election
cycle.
So
that's
really,
the
general
gist
is
to
make
sure
again.
Changes
are
identified.
Best
practices
are
supported.
Concerns
questions
are
able
to
be
raised
in
a
community
forum
where
all
of
the
clerks
and
their
staffs
and
the
state
are
able
to
hear
and
understand
and
get
on
the
same
page.
D
Thank
you
very
much
yes
and
one
other
question
that
I'm
going
to
kind
of
combine
together.
D
We
know
that
the
office
expended
about
twenty
one
thousand
dollars
for
the
elections
workshop
when
we
had
only
approved
just
short
of
five
thousand,
and
so
could
you
talk
about
that
a
little
bit
and
then
what
do
you
anticipate
for
the
2022
election
cycle?
That
would
justify
continuing
that
higher
annual
workshop
cost.
G
Certainly
senator
mark
velasco
deputy
secretary
of
state
for
elections
for
the
record,
so
first
in
regards
to
the
higher
than
anticipated
costs
during
the
previous
elections
workshop.
To
answer
that
one
directly
as
we
approached
the
election
cycle,
it
appeared
as
though
there
were
going
to
be
a
significant
number
of
issues
and
potentially
some
friction
points
that
were
best
identified
before
the
election
cycle.
Then
afterwards.
This
resulted
in
an
increased
number
of
individuals
attending.
G
This
resulted
in
a
number
of
again
guest
speakers
and
extended
the
the
timeline
of
the
the
workshop
a
little
bit
more
so
than
it
had
been
anticipated.
When
the
original
budget
request
was
identified,
going
forward
into
the
2022
cycle,
I
think
it's
safe
to
say
that
there's
a
number
of
things
that
we're
going
to
to
continue
to
build
upon.
G
In
regards
to
some
successes,
we're
going
to
be
very
critical
in
our
discussions
about
what
we
can
continue
to
improve
upon,
recognizing
that
everything
has
a
potential
to
improve
and
that
again
all
of
the
states
voters
deserve
it.
Continuing
continuing
continuously
improving
election
elections
process.
G
So
looking
at
2022
again,
I'm
not
going
to
attempt
to
predict
the
future,
but
I
do
anticipate
there's
going
to
be
increased
needs
for
focus
on
cyber
security
focus
on
infrastructure
discussions
about
voter
education
to
make
sure
that
folks
do
understand
the
both
the
state
and
federal
changes
that
may
come
in
the
next
12
months
to
make
sure
that,
as
we
get
into
that
cycle,
that
perhaps
there's
a
little
bit
less
confusion
by
some
of
the
voters
and
hopefully
a
little
bit
more
of
an
efficient
and
equally
successful
election.
D
Yes,
sir,
thank
you
very
much
and
it's
thank
you
so
much
for
preparing
this
information
and
secretary.
It's
a
pleasure
to
see
you.
D
Thank
you,
madam
chair.
This
is
just
a
kind
of
a
more
of
a
technical
question,
so
the
funding
via
interagency
transfer,
the
increase
is
substantial
from
19
to
20
versus
20
to
21..
Where
does
that
money
where's
that
money
being
transferred
from
is
it?
Is
that
open
money,
that's
being
transferred
interagency
transfer,
or
is
it
coming
from
some
other
source.
F
Madam
chair,
if
we
can
turn
this
over
to
them,
mark
or
sherry
can
go
into
detail
on
that.
If
that's
all
right
with
you,
madam
chair
sure,
go
ahead.
G
D
Sure
I
just
it
looks
like
from
the
from
what
I
have
the
inter
agency
transfer
from
19
to
20
was
329
thousand
dollars
and
from
20
to
21.
It
jumped
to
3
million
145.
G
G
Is
coming
from?
Yes,
sir?
I
understand
unless,
if
it's
actually
preferable,
given
the
detailed
nature
of
that
question,
it's
acceptable.
I
can
get
that
information
get
back
to
you
in
a
timely
manner.
A
A
Okay,
thank
you
very
much,
we'll
we'll
get
that
answer
to
everyone
and
we'll
go
from
there.
Okay,
thank
you
so
with
that.
I
believe
that
one
of
my
one
of
the
folks
for
questions
is
senator
dennis
so
senator
dennis.
C
Hey
thank
you,
madam
chair.
I
want
to
go
back
to
this
annuity
system.
I
have
a
couple
questions
on
that.
One
of
the
things
is
you.
C
You
had
several
hundred
enhancements
that
you're,
what
kind
of
enhancements
are
those
I
mean
are
those
just
back
back
of
the
house
type
things
or
the
user
interface
type
enhancements.
B
In
addition
to
that,
the
system
does
integrate
with
about
five
other
applications,
so
senuity
itself
connects
to
our
silverflume
portal,
and
then
we
have
an
accounting
application,
a
credit
card
acceptance,
application
and
various
other
things.
So
these
enhancements
cover
all
of
those
upgrades
to
those
other
applications
upgrades
to
the
servers,
as
is
one
of
the
enhancement
items
here
or
the
requests
in
our
budget,
and
so
this
list
is
a
compilation
of
all
of
those
things.
C
B
Kim
purundi
for
the
record,
this
annuity
application
does
not,
but
our
silverflume
portal
does
so
silverflume
portal
itself
connects
with
senuity
as
the
back
end
processing
system
for
commercial
recordings,
but
also
integrates
with
other
state
agencies
like
department
of
taxation,
some
of
the
cities
and
counties,
employment,
training
and
rehab
and
so
forth.
C
B
C
C
Okay
and
then
one
of
your
maintenance
costs
were
included
in
the
original,
at
least
the
first
two
years,
but
now
you're
going
to
have
ongoing
costs
for
for
maintenance.
B
C
C
Okay
and
then
also
are
you
anticipating
that
you're
going
to
be
completed
on
time
with
all
the
enhancements.
B
Well,
we
don't
have
a
very
good
track
record
with
that
so
far,
but
that
is
certainly
our
intent
and
our
hope.
So
again,
over
the
biennium.
We
have
this
large
list.
We
we
are
working
diligently
on
getting
all
of
the
bugs
that
we
have
logged
fixed
and
and
completed
so
that
we
can
then
move
on
to
the
enhancement
items
come
july.
C
A
D
Yeah
mine
was
more
just
a
general
question
for
the
office
and
and
for
secretary
gasket
about
physical
security
and-
and
you
know,
I
know
that
it's
been
kind
of
a
just
been
a
wild
time
here
in
the
united
states
and
for
state
elections,
officers
and
county
elections,
officers
and
and
if
this
isn't
necessarily
budget
related.
But
how
do
you
feel
the
security's
been
adequate
and
if
you,
you
know,
have
any
needs
around
physical
security
for
you
and
your
staff.
F
Thank
you
so
much
chair
brooks.
We
appreciate
the
question
and
madam
chair.
If
it's
okay
I'll
answer
a
little
bit
and
then
I'll
turn
it
over
to
mark
velocion
our
elections
deputy,
we
have
had
an
extraordinary
great
experience
with
all
the
law
enforcement
agencies,
not
only
in
our
state
of
nevada,
but
also
nationally,
we've
been
treated
very
well.
F
They
have
kept
us
abreast
of
all
issues,
anything
happening
anything
going
on.
I
cannot
begin
to
tell
you
how
many
conference
calls
I've
been
on
on
a
weekly
basis
daily
basis,
sometimes
for
this
election
and
what's
going
on
with
other
countries
what's
happening,
so
we
felt
very
good
about
what's
going
on.
I
know
that
you're
talking
about
some
of
the
the
threats
that
we
had
personally
and
we
do
not
have
any
security
for
that
at
all.
F
We
don't
have,
I
think,
the
governor's,
the
only
one
that
that
has
has
that
clearance,
so
we
mark
velocion
and
scott
anderson
have
been
talking
about
that,
and
it
is
something
that
was
of
grave
concern
based
on
some
of
the
events
that
have
taken
place
over
the
last
year.
F
G
Thank
you,
madam
secretary
mark
velasco
deputy
secretary
of
state
for
elections
for
the
record
the
senator
brooks
I
I
do
appreciate
the
question
and,
like
the
secretary
said,
I
think
it's
it's
important
to
state
up
front,
first
and
foremost
that,
thankfully,
at
no
time
did
we
ever
feel
as
an
agency
or
even
as
individuals
that
our
security,
our
physical
security,
was,
was
in
need
of
more
or
found
to
be
lacking
between
the
the
federal
and
state
agencies
that
we
worked
with
across
the
board,
both
north
and
south.
G
It's
been
just
an
absolute
tremendous
outpouring
of
support
when
in
doubt
they
were
there
and
willing
to
help
out
and
again
ensure
the
secretary
of
safety
as
well
as
the
staffs
here
in
carson
city
chief
leaders
and
the
capitol
police
have
done
an
exceptional
job.
G
I
think
the
most
dangerous
thing
I've
got
to
deal
with
out
here
is
the
occasional
deer
that
wanders
through
the
grounds,
but
that's
a
testament
to
their
dedication
and
absolute
perseverance
over
some
pretty
confusing
at
times
frustrating
at
others,
and
it's
kind
of
worried,
sometimes
that
we
all
experienced
over
the
last
six
months,
but
but
again
in
regards
to
the
physical
impacts
of
security,
physical
security.
G
We
had
no
need
again
or
found
ourselves
needing
anything
additional
outside
of
what
secretary
sugaski
identified
in
the
law
enforcement
agencies
that
we
worked
with
again
keeping
in
mind.
This
is
a
law
enforcement
agency
right
we
have.
We
have
law
enforcement
officers
that
work
in
both
north
and
south
for
the
secretary,
all
of
them,
and
everybody
else
that
we
talked
to
and
worked
with
we're
absolutely
bending
over
backwards
in
their
support
to
make
sure
the
secretary
and
staff
are
safe.
Thank
you
for
the
question,
though,.
F
And
if
I
might
add,
senator
brooks
that
metro
in
las
vegas
was
fantastic
because
they
would
do
drive-bys
and
come
and
call
just
to
make
sure
of
my
particular
safety,
but
we
also
wanted
want
you
to
know
that
north
las
vegas
police,
in
the
building
that
we're
in
in
las
vegas
was
very
dedicated
to
us.
The
capitol
police
up
in
carson
city
as
mark
velasco
had
had
told
you
they
just
been
outstanding
and
they
have
been
looking
out
for
our
our
best
interest.
So
we
did
feel
very,
very
good
about
the
coverage.
A
A
Not
seeing
any
if
we
could
go
ahead
and
proceed
to
budget
1051,
the
hava
help
america
vote
act.
G
G
G
This
decision
unit
e237
requests
forty
five
thousand
five
hundred
forty
dollars
in
fy.
Twenty
three
nevada
is
a
member
of
the
electronic
registration
information
center
or
eric,
which
is
a
multi-state
consortium
dedicated
to
improving
the
accuracy
of
each
state's
voter
rolls
and
increasing
access
to
voter
registration
for
eligible
citizens
through
eric
election
officials
in
nevada
have
been
able
to
ensure
the
state's
voter
rules
are
accurate
and
up
to
date,
while
simultaneously
growing
the
voter
rolls
by
encouraging
eligible
but
unregistered
citizens
to
register
to
vote.
G
Pursuant
to
the
eric
membership
agreement,
the
secretary
of
state
must,
prior
to
each
federal
general
election,
sent
a
postcard
to
at
least
95
of
the
eligible
or
potentially
eligible
citizens
who
are
not
currently
registered
to
vote.
Failure
to
complete
this
requirement
is
grounds
for
dismissal
from
eric
the
cost
of
printing
and
mailing
the
eligible,
but
unregistered
or
ebu.
Postcards
cannot
be
covered
by
federal
hoga
funds,
because
activities
related
to
voter
registration
drives
are
not
allowable
java
expenditures.
G
F
Thank
you,
chair,
carlton
and
chair
brooks
and
committee
members.
That
concludes
our
presentation
to
the
2022-23
biennium
budget
request
for
the
office
of
the
secretary
of
state
and
I'd
like
to
thank
the
staff
of
the
office
and
secretary
of
state,
the
governor's
finance
office
and
lcb
fiscal
for
the
efforts
that
went
into
creating
this
budget
request.
We
look
forward
to
any
questions
or
comments
from
you
or
your
members
of
the
committee,
and
we
just
thank
you
very
much
for
allowing
us
to
be
here
today.
A
With
that
excuse
me,
I
believe
I
have
assemblywoman
tools.
D
Yes,
thank
you
so
much
and
first
of
all
thank
you,
secretary
of
state
for
all
of
your
hard
work
during
this
last
election
cycle
to
you
and
all
your
staff.
We
appreciate
you
very
much,
and
I
know
that
this
particular
budget
utilizes,
the
hava
funds,
and
I
heard
in
the
presentation
that
there's
a
move
to
a
top-down
system-
and
I
know
that
there's
a
tremendous
amount
of
enthusiasm
about
that
with
the
county
clerks.
D
F
G
Thank
you,
assemblywoman's
holes,
mark
flosston,
deputy
secretary
of
state
for
elections
for
the
record,
the
two
parts
of
your
questions,
ma'am
I'll
answer
them.
First
and
foremost,
the
merits
the
top
down
voter
registration
system.
First,
something
that
you
mentioned.
It
is
absolutely
echoed
by
all
the
clerks
across
the
state,
as
well
as
the
elections
division
staff.
This
is
going
to
be
a
very
positive
move
for
the
state
in
regards
to
the
the
maintenance
specifically
of
the
statewide
voter
registration
list.
G
The
way
it
currently
stands
for
folks
that
maybe
aren't
aware
of
it.
The
system
we
have
is
is
a
bottom
up,
which
means
that
the
17
counties
maintain
their
own
individual,
unique
voter
registration
systems
at
their
county
level,
and
then
they
provide
that
information
to
the
office
of
secretary
of
state
daily.
What
ends
up
happening,
though,
because
of
the
nature
of
this
system,
is
that
if
an
individual
moves
from
one
county
to
another,
for
example,
one
county
cancels
their
registration
system
and
the
next
county
starts
a
new
one.
G
The
maintenance
is
going
to
be
a
huge
step,
especially
in
the
the
speeding
up
of
our
list
maintenance
processes,
whereas
before
again
there's
it
took
some
time
now
it
will
be
almost
instantaneous
or
if
an
individual
does,
for
example,
move
from
one
county
to
another.
Again,
that's
a
simple
change
for
us
at
the
state
level
without
having
to
cancel
or
start
a
new
registration.
G
In
regards
to
the
funding,
though,
a
little
bit
of
background
and
description
of
how
this
is
going
to
go
moving
forward,
the
first
step,
the
most
important
one
I
think,
based
on
on
our
experiences
really
across
the
street,
is
identifying
these
requirements.
So
what
we're
doing
is
we're
in
the
process
of
an
rfp
that
we're
just
about
done
with
and
we'll
process
and
put
out
there
to
get
a
vendor
to
come
in
and
conduct
an
assessment
of
the
entire
state.
G
This
assessment
is
going
to
be
critical
because
it's
going
to
help
us
help
the
secretary,
especially
to
make
a
decision
in
regards
to
what
route
to
go
the
options
that
we're
looking
at
a
commercial
off-the-shelf
system.
That's
already
pre-built
a
lot
of
vendors
out
there
that
have
pre-built
ready
to
to
go
voter
registration
systems
and
election
management
systems.
G
There's
the
option
to
perhaps
build
it
in-house.
We
have
I.t
folks
here
in
the
agency,
I've
been
with
the
agency
for
decades,
who
are
extremely
skilled
and
extremely
capable.
There
may
be
again
a
lot
of
benefit
to
us,
building
it
internally
or
maybe
a
blend
where
we
take
a
commercial
off
the
shelf
system
and
maybe
make
it
a
hybrid
using
our
it
team
so
that
it
meets
our
state
specific
requirements.
G
So
this
vendor
is
going
to
conduct
the
assessment
across
the
state.
Look
at
the
options
and
resources
that
are
available
understand
a
little
bit
about
where
we're
going
as
a
state
over
the
next
couple
years.
Recognizing
that
you
know
even
two
years
ago,
what
may
have
been
fiscally
possible
then
it
might
not
be
as
easy
to
achieve
now,
so
that
assessment,
once
it's
complete,
will
help
give
us
a
better
understanding,
so
secretary
can
make
the
decision
going
forward
about
what
that
looks
like
and
then
we'll
be
able
to
begin
that
process.
G
A
very
key
part
of
this
assessment
is
going
to
be
defining
what
the
fiscal
limits
look
like,
so
that
we
have
an
understanding
of
what
this
could
be.
We've
already
conducted
extensive
discussion
and
collaboration
with
some
of
our
our
elections
counterparts
in
other
states.
Who've
gone
through
this
very
process
before
in
the
the
scope
from
costs
is
gone
from
a
very
little
bit
to
an
extreme,
a
large
amount.
So
until
we
conduct
this
assessment,
we
really
don't
have
a
good
understanding
of
exactly
what
the
costs
are.
G
We
do
know
that
the
hava
funds
are
going
to
be
able
to
one
pay
for
the
assessment
and
two
we'll
likely
cover
the
majority
of
the
costs
based
on
what
we're
looking
at
right
now.
But
beyond
that,
I'm
not
able
to
give
an
accurate
answer
if
the
hubba
funds
that
we
currently
have
as
the
state
are
going
to
cover
the
entirety
of
that
transition
to
the
top-down
registration
system
until
after
the
assessment
is
done.
Does
that
answer
your
question
to
some
of
them.
D
Yes,
thank
you,
and
so
I
don't
know
if
I
missed
the
timeline,
but
when
do
we
think
that
assessment
is
going
to
be
finished,
where
we'll
be
able
to
hear
about
whether
or
not
the
hava
funds
are
enough
currently
or
if
what
would
be
the
next
step?
If
we
need
to
secure
additional
funding
to
bridge
the
gap
from
what
haba
may
not
be
able
to
cover.
G
So
that
the
the
timeline
for
the
assessment
we're
looking
at
between
mark
lawson,
deputy
secretary
of
state
for
elections
for
the
record,
the
timeline
is
between
six
to
about
18
months.
Currently,
a
lot
of
it's
going
to
depend
on
when
the
the
organizations
that
we
look
at
from
the
vendors
come
back
they're
going
to,
of
course,
provide
a
number
of
different
options
and
we'll
look
at
that.
G
If
there
are
concerns
again,
there's
there's
plenty
of
discussion
from
federal
government
currently
underway
about
increasing
election
security
and
elections,
funds
from
the
federal
side
of
the
house,
so
there's
a
number
of
different
avenues
that
we
have
available
to
look
at
if
it
does
turn
out
that
this,
the
transition
may
not
meet
our
requirements.
Another
option
that
we're
keeping
in
mind
is
the
potential
to
not
have
a
massive
one
day.
G
Go
live
type
event
with
the
entirety
of
the
state
transitions
to
this
system
at
the
same
time,
but
instead
to
potentially
do
a
piecemeal
so
that,
as
we
transition
counties
into
the
system,
we're
able
to
do
so
in
a
much
less
of
a
large
fiscal
requirement
so
that
we
can
again
stretch
it
out
to
make
sure
that,
from
a
fiscal
point
of
view,
we're
able
to
do
so
in
an
efficient
but
timely
manner.
G
Potentially,
yes,
ma'am,
I
think,
for
the
the
end
date
when
all
17
counties
and
the
state
are
transitioned,
we
are
expecting
sometime
around
the
hopefully
before
the
2024
election
cycle,
for
everyone
to
be
completed,
but
that
could
be
between
2024
and
2026
before
all
counties
have
transitioned
successfully.
G
D
Great,
thank
you
so
much
and
again,
thank
you
to
you
and
all
the
county
election
officials
for
all
your
work,
this
this
cycle.
F
A
Okay
with
that
speaker
fryerson,
did
you
have
a
question.
D
I
did
thank
you,
madam
chair,
along
the
same
lines.
D
Well,
really
two
questions.
First,
is
the
estimate
of
24
versus
26
and
when
it
would
be
able
to
be
implemented,
a
reflection
of
uncertainty
about
the
cost?
D
In
other
words,
would
it
be
faster
if
if
it
were
able
to
be
paid
for
and
then
my
second
question
is-
and
I
do
recall
discussion
about
an
estimate
at
some
point
of
about
five
million
dollars-
nine
million
dollars,
rather,
is
that
or
whatever
the
cost
might
be,
that
we
might
get
from
an
assessment
initial
setup
and
it
costs,
or
is
that
part
of
ongoing
costs
that
would
continue
beyond
the
biennium.
G
Speaker,
thank
you
for
the
question
mark
colasham,
deputy
secretary
of
state
for
elections
for
the
record
first
in
regards
to
the
24
26
timeline.
A
lot
of
that
is
unknown
and
speaker
you're
right
part
of
that
could
be
the
costs.
A
big
part
of
it
also
is
the
fact
that
the
other
states
that
we've
talked
to
have
repeatedly
stressed
do
not
rush
the
requirement
gathering.
G
So
this
this
assessment
that
we're
looking
at
in
the
near
future
is
purely
requirements,
gathering
understanding
the
environment,
we're
in
making
sure
that
the
conditions
are
set
in
this
environment
to
begin
the
project
and
to
make
sure
that
it
has
a
100
chance
of
success.
That's
of
the
most
importance,
so
if
it
is
not
again
to
be
very
specific
a
matter
of
if
we
had
twice
as
much
java
funds
available
to
us
right
now,
I
I
don't.
I
still
would
be
uncertain
if
that
would
get
us
to
2024
instead
of
2026..
G
D
G
Mark
velocity
secretary
of
state
for
elections
for
the
record
in
regards
to
the
the
overall
costs
still
again
a
bit
unknown
at
this
point,
the
intent
is
to
pay
for
a
system
that
is
not
something
tied
to
necessarily
a
vendor
in
perpetuity
that
the
goal
is
to
have
a
date
where
we
endeavor
potentially
vendor
relationships,
and
it
is
something
that
that
our
it
our
again
exceptionally
capable
I.t
staff
take
over
the
management
of
in
moving
forward.
G
Will
there
be
a
maintenance
cost
associated
with
it
potentially
again
unknown,
currently
as
to
what
that
could
be,
but
the
goal
is
to
if
there
are
maintenance
costs
associated
with
it,
to
tie
that
more
specifically
into
really
our
base
budget,
and
that
may
mean
that
there
are
additional
it
help
desk
support
individuals
required,
for
example,
so
as
we're
able
to
better
identify
those
requirements
and
costs
and
how
we
can
address
them.
G
D
Thank
you,
madam
chair,
and
thank
you.
I
agree
that
you're,
you
know
our
your.
Your
rit
folks
are
outstanding
and
I
echo
the
support
of
the
local
election
officials
that
secretary
of
state
mentioned
it's
very
important,
so
I
appreciate
all
the
work
you
all
did.
A
Are
there
any
other
questions
from
any
other
committee
members
at
this
time,
I'm
not
hearing
or
seeing
any.
Thank
you
very
much,
madam
secretary,
it's
nice
to
see
you
again
we're
in
our
last
two
years
together
doing
this,
so
I
know
just
time
flies
when
you're
having
fun.
Doesn't
it
it
does.
Thank
you,
madam
chair
you're,
very
welcome,
take
care
and,
and
thank
you
for
presenting
today
and
we'll
move
on
from
there.
So.
A
H
H
We
also
have
for
questions
kabrina,
fazer,
our
operations
officer
and
steve
edmundson,
our
investment
officer
and
before
the
testimony
on
the
proposed
budget,
I'm
just
going
to
take
a
moment
to
review
the
contribution
rates
for
the
next
biennium
that
were
based
on
the
actuarial
valuation
performed
by
the
board
as
of
june
30
2020..
H
H
H
So,
as
of
june
30,
2020
pers
had
one
hundred
and
eleven
thousand
eighteen,
eight
hundred
and
fifteen
active
members
with
approximately
98
000
of
those
participating
in
the
regular
fund,
which
is
all
members
other
than
those
that
qualify
as
police
officers
or
firefighters,
and
we
had
about
13
500
participating
in
the
police
fire
funds.
You
can
also
see
the
average
ages
there
for
each
of
those
funds.
H
The
police
fire
fund
tends
to
have
a
lower
average
age,
because
part
of
the
goal
for
the
police
fire
fund
is
to
have
the
youthful
and
vigorous
frontline
public
safety
force
to
protect
the
public
from
physical
harm.
So
that's
why
you
will
generally
see
a
lower
age
there.
They
also
tend
to
have
a
little
more
service
credit
because
they
also
start
younger
in
the
system
than
our
regular
members.
H
You
also
see
there
that
we,
our
current
well
as
of
june
30,
we're
paying
about
72,
000,
retirees
and
beneficiaries
from
the
fund
about
63
000
of
those
from
the
regular
fund
about
9
300
from
the
police
fire
fund.
We
also
show
the
average
benefit
amounts
so
from
the
regular
fund.
It's
a
touch
under
3
000
per
month
and
the
police
fire
fund.
It's
approximately
5
300
per
month.
H
You
will
also
see
the
total
monthly
benefits
about
189
million
a
month
are
paid
to
our
retirees
and
beneficiaries
from
the
regular
side
and
approximately
50
million
from
the
police
fire
side.
I
also
want
to
note
here
that,
of
course,
our
members
do
not
participate
in
social
security.
So
often
this
will
be
the
only
benefit
that
our
members
have
in
retirement.
H
Also
on
here
is
the
judicial
retirement
system,
so
it
is
run
as
an
independent
system
from
pers
it
has
112
active
members
and
82
annuitants.
This
includes
state
judges,
as
well
as
municipal
judges
and
justices
of
the
peace
from
those
local
jurisdictions
who
have
elected
to
allow
participation
in
the
fund.
H
These,
the
local
governments
are
valued
separately
from
the
state,
so
they
do
have
differing
contribution
rates
than
the
state
they
their
average
benefit
is
about
6
600
a
month,
and
that,
of
course,
would
reflect
the
different
salaries
between
judges
and
the
pers
members,
and
you
can
see
the
approximate
monthly
benefits
there
that
we
pay
from
that
system
and
then,
finally,
we
do
administer
the
legislators
retirement
system.
This
is
a
voluntary
system,
so
legislators
can
opt
out
of
participation.
H
We
currently
or
as
of
june
30,
had
32
active
members
and
73
retirees
and
beneficiaries
with
an
act,
an
average
monthly
salary
of
487
dollars
per
month,
and
we
pay
about
35
000
a
month
in
total
benefits
from
that
fund
on
the
next
page
shows
the
results
of
the
2020
evaluation
for
the
regular
fund,
the
police
fire
fund
and
the
impact
on
the
pre-tax
employer,
pay
contribution
rates.
We've
also
put
the
2018
results
in
there
for
comparison,
because
that
is
the
last
rate.
H
Setting
year,
I
statutes
the
contribution
rates
are
set
for
each
biennium,
based
on
the
va
the
results
of
the
even
calendar,
the
even
fiscal
year,
valuation
results
so
automatically
by
law.
If
the
rates
are
more
than
half
a
percent
over
the
current
statutory
rates,
the
race,
the
rates
must
change
as
of
july
1st
2021
in
this
case,
so
just
to
go
over
a
little
bit
on
this
slide
to
show
you
for
the
regular
fund.
H
We
finished
the
year
with
about
35
billion
in
assets
with
about
10
billion
in
assets
on
the
police
fire
side.
I
want
to
just
make
a
note
here,
because
that
was
about
46
billion
dollars
in
assets
as
of
june
30
2020.,
our
investment
return
on
a
market
value
basis
for
2020
was
approximately
7.2
percent,
which
was
one
of
the
highest
returns
from
a
public
pension
system
in
the
country.
H
The
median
return
was
approximately
2.4
percent
from
the
public
pension
fund
database,
so
we
approximately
almost
five
percent
higher
than
that
and
year
to
date.
So,
since
june
30,
the
fund
has
grown
to
54
billion
dollars,
so
from
june
30
our
assets
have
grown
from
46
billion
to
54
billion.
H
I
caution
a
little
bit
on
those
numbers,
because
we
value
on
june
30
and
the
markets
have
been
fairly
volatile
as
you're
probably
aware
over
the
with
the
events
over
the
last
year,
but
currently
as
of
today,
we
are
up
about
18
for
the
current
fiscal
year
and
part
of
the
reason
I
mentioned.
That
is
because
it
becomes
relevant
to
our
budget
that
has
been
proposed
by
the
retirement
board,
because
we
have
run
this
investment
program
with
one
investment
staff
member
who
manages
the
external
investment
managers
and
the
investment.
H
The
retirement
board
has
really
felt
at
this
point
that
it's
important
that
we
request
a
second
investment
position
to
assist
mr
edmundson
with
this
fund,
not
only
to
assist
him,
but
also
to
make
sure
that
we
have
proper
succession
planning
in
place.
We've
had
three
investment
officers
since
the
position
was
created
in
the
statute,
and
I
think
one
of
the
big
reasons
for
our
success
is
the
stability
we've
had
in
our
investment
program.
H
As
far
as
staff
goes,
and
the
board
thinks
it's
very
important
at
this
point-
to
have
a
second
staff
member
to
work
with
steve
to
take
on
some
of
those
duties
but,
more
importantly,
to
learn
from
steve
to
make
sure
that
when
the
time
comes,
we
have
the
appropriate
succession
and
training
in
place.
So
that's
just
I'm
sorry
a
little
aside
into
the
budget,
but
we
just
feel
that
the
investment
program
right
now
is
is
working
as
we
would
intended.
H
H
The
cost
of
the
rate
is
called
employer
pay,
which
is
a
bit
of
a
misnomer,
but
by
law
the
employer
pays
the
whole
rate
to
us,
but
the
employee's
share
is
paid
either
through
a
direct
reduction
of
salary,
which
is
typically
the
way
the
state
puts
that
into
place
or
in
lieu
of
a
promised
pay
increase.
So
the
employees
do
share
in
this
rate
and
the
results
of
this
valuation,
the
rates,
the
actuarial
rate,
was
0.59
percentage
points
above
the
current
statutory
rate.
H
I
guess
I'm
getting
a
little
ahead
of
myself,
but
that
did
trigger
a
rate
increase,
because
you
can
see
the
actuarial
contribution
came
in
at
29.84,
which
is
about
exactly
0.5
over
two
years
ago,
so
that
will
trigger
the
statutory
rate
again
on
the
police
fire
side.
The
rate
was
also
triggered.
It
was
triggered
at
a
little
bit
higher
rate.
The
police
fire
totally
from
a
total
perspective,
is
increasing
1.5
percent,
so
that's
0.75
to
the
employer
0.75
to
the
employee.
Again,
this
is
by
statutes.
H
The
differences
in
those
two
rates
is
the
fact
that
the
police
fire
fund
is
smaller.
A
little
more
volatile
has
different
salary
experience
than
the
regular
fund,
and
the
impact
of
payroll
growth
is
more
significant
in
the
police
fire
fund.
So
those
are
the
reasons
why
you
see
a
little
bit
difference
between
the
rate
increase
on
the
regular
fund
and
the
police
fire
fund.
H
The
next
page
shows
the
judicial
and
legislators
retirement
systems.
These
are
much
smaller
funds,
as
you
can
see,
and
by
the
participation
and
by
the
numbers.
One
thing
I'd
like
to
point
out
here:
each
of
these
funds
saw
a
pretty
good
jump
in
funded
ratio
from
2018,
and
they
are
both
funded
at
approximately
95
percent,
which
is
really
quite
good,
so
those
funds
are
in
in
very
good
shape.
At
this
point,
the
next
slide
shows
the
contribution
cost
for
the
judicial
retirement
system
and
the
legislators
retirement
system.
H
This
system
also
has
a
lump
sum
payment
that
is
paid
on
the
unfunded
actuarial
crude
liability,
and
the
reason
for
that
is
when
this
system
was
created
in
2001.
It
took
in
all
the
unfunded
benefit
payments
from
the
prior
unfunded
system,
so
that
payment
decreased
slightly
from
1.337
million
last
binaum
to
1.322
million
this
biennium
the
it's
kind
of
the
same
story
for
the
legislators.
H
So
then
we'll
go
to
the
pers
contribution
rates
for
the
employer
pay
side.
I
already
pretty
much
covered
this,
but
the
existing
statutory
rate
for
the
regular
fund
employer
pay
was
29.25.
H
H
Please
fire
the
statutory
rates,
42.5
percent,
as
you
may
recall,
this
rate
is,
is
a
higher
rate
than
the
regular
fund
because
of
that
early
retirement.
That
is
why
that,
generally,
is
why
that
rate
is
more
expensive
than
the
regular
fund,
because
they
can
retire
earlier.
We
pay
the
benefit
longer.
It
requires
a
higher
contribution.
H
H
Under
this
method,
the
employee
pays
their
half
by
after
tax
deduction
from
their
salary,
so
they
pay
taxes
on
this
amount
and
those
contributions
are
refundable,
so
the
rate
is
slightly
more
expensive
because
of
that
refundability.
So
you
can
see
that
the
employee,
employer
pay
rate
is
15.5
to
each
side.
For
the
regular
members
and
22.75
for
each
side
for
the
police,
fire
members.
H
Now,
project
to
project
these
liabilities
of
the
system
that
is
owed
to
current
members
and
retirees,
we
must
make
assumptions
about
future
events
that
may
affect
the
timing
and
amount
of
the
benefits.
So
we
of
course,
are
estimating
what
these
benefits
will
be,
but
we
don't
know
ultimately
what
they
will
be,
because
it's
based
on
future
events
such
as
what
are
salary
increases,
what
is
payroll
doing,
how
long
people
are
living
when
they
retire,
and
so
these
liabilities
that
we've
shown,
of
course,
are
estimates
based
on
those
assumptions.
H
Now,
each
year
in
the
valuation,
we
measure
the
the
actual
experience
versus
the
assumptions
and
that's
where
you
will
see
the
gains
and
losses
that
then
lead
to
the
results
of
the
valuation
now
to
make
sure
that
those
assumptions
are
staying.
True
to
our
actual
experience,
we
do
an
experience
study
every
four
to
six
years.
Our
next
experience
study
is
scheduled
for
this
calendar
year
2021.
H
H
I
expect
probably
an
adjustment
to
the
payroll
growth
assumption,
because
the
contribution
rate
increases
that
you
are
seeing
in
this
valuation
are
primarily
driven
by
the
payroll
growth
being
lower
than
we
assume.
So
we
assume
a
certain
number,
a
certain
amount
of
payroll
growth.
Our
contribution
rate
is
a
is
a
percentage
of
salaries
or
a
percentage
of
payroll.
H
And
then
we
pick
that
up
in
the
next
biennium
from
the
valuation
process,
so
really
the
the
what
you're
seeing
here
is
driven
by
payroll
growth
being
lower
than
assumed,
and
we
expect
that
to
be
adjusted
in
the
next
experience
study,
which
is
scheduled
for
this
year,
and
that
is
all
I
really
had
prepared
to
say
about
the
valuation.
I
can
answer
any
questions,
or
I
could
turn
it
over
to
ms
larson
for
our
for
her
to
talk
about
our
budget.
A
Ed,
thank
you
very
much.
I
guess
I'd
like
to
ask
a
quick
question.
I
think
I
want
to
expand
a
little
bit
on
one
of
the
last
statements
that
you
just
made
so
all
of
the
vacancies
that
we're
seeing
in
all
these
different
budgets
that
are
being
held
open
for
this
first
year,
which
I
believe
would
be
considered
a
base
year.
So
in
essence,
the
existing
employees
will
end
up
picking
up
the
cost
for
us
not
filling
those
vacancies
when
the
rates
are
reestablished
for
the
next
biennium.
H
Ma'am
churchill
is
for
the
record,
so
in
essence,
yes,
when
so
when
the
payroll
growth
is
lower
than
assumed,
we
have
the
loss,
then
the
contribution
rates
may
be
increased
because
of
it,
and
if
you
think
about
the
way
our
structure
is
the
employer
pays
half
the
employees
pay
half
so,
yes,
the
employees
do
pay
for
half
of
that
contribution
rate
increase.
H
So
if
we
reduce
the
payroll
growth
assumption-
which
I
suspect
will
be
definitely
be
a
topic
of
the
retirement
board
on
that,
if
you
reduce
the
payroll
growth
assumption,
that
generally
has
an
increasing
effect
to
the
contribution
rate
itself,
and
since
the
employee
pays
that
percentage,
it
would
of
course
increase
the
rates
for
the
employees.
Now
there
may
be
other
offsetting
issues,
but
generally
the
if
we
reduce
the
payroll
growth
assumption.
H
Yes,
that
will
raise
the
contribution
rate
for
the
employees
who
all
of
the
active
employees
at
the
time
that
that
goes
into
effect.
A
D
Hey
man,
I'm
sure
I
just
want
to
follow
up
a
little
bit
on
your
point,
because
the
the
back
end
of
that
equation
is
also
true
right,
that
if
there
is
less
salary
being
generated,
there's
less
less
benefit
being
accrued
as
well.
On
the
on
the
other
side
of
that,
and-
and
I
want
to
point
out
that
I
mean
employees
are
already
paying
for
other
people's
retirements,
it
looks
like
half
of
people's
purse.
Contributions
are
funding.
Unfunded
liability
for
people
who
have
already
retired
is
that.
Did
I
read
that
slide
correctly?
Miss
lewis.
H
You
know
that's
for
the
record.
I
would
say
that
the
unfunded
liability,
of
course
we
we
can
add
to
that
or
decrease
from
that
with
every
valuation.
So
the
unfunded
liability
is
associated
with
all
prior
service,
so
not
necessarily
with
retiree
service,
for
instance.
Personally,
I've
I've
been
in
either
the
state
or
at
pers
since
1999..
H
So
most
of
the
unfunded
liability,
I
think
that's
being
carried
right
now
was
created
essentially
during
my
career,
so
in
essence
I
am
paying
for
not
necessarily
liabilities
associated
with
retirees,
but
also
with
liabilities
associated
with
the
time
that
I've
been
employed.
So
yes,
it's
some
related
to
retirees.
It's
also
related
to
past
service
of
current
active
employees.
D
Right
that
the
portion
of
the
contributions
attributed
to
the
benefits
the
individual
is
earning
was
about
15.6
percent
or
something
to
that
effect.
I
don't
have
this
light
in
front
of
me
right
now,.
H
Yes,
yes,
tina
was
for
the
record.
You
are
correct
on
that.
I
believe
the
the
the
normal
cost
is
about
that.
If
I'm,
I
apologize,
I'm
not
finding
it
very
quickly
to
be
a
hundred
percent
accurate
on
the
number.
I
can
go
back
and
look
at
the
number.
It's
fine
but
yes,
you're,
correct
and
the
normal
cost
itself.
H
I
believe
for
the
regular
fund
decreased
a
little
bit
and
that's
seeing
the
effects
of
the
changes
for
the
2010
group
and
the
2015
group
the
legislature
made.
So,
as
you
recall,
when
we
make
changes
to
the
benefit
structure,
it's
for
new
hires
only
before
legal
reasons,
and
probably
other
policy
reasons
the
legislature
has,
but
so
that
those
changes
are
new
hires
only
so
you're,
seeing
that
normal
cost
actually
coming
down
a
little
bit
as
we
roll
in
kind
of
the
new
those
on
those
new
tiers,
the
2010
tier,
the
2015
tier.
H
But
yes,
and
then
the
remainder
is
a
payment
on
the
unfunded
liabilities.
Like
I
said,
I
don't
have
the
specific
numbers
in
my
head,
but
I
I
think
you
basically
have
this.
The
split
and
again,
that's
not
necessarily
associated
with
retired
members,
but
that's
also
associated
with
current
active
members
as
well.
A
Okay
with
that
not
seeing
any
other
high
level
questions
at
this
time.
So
if
you'd
like
to
go
ahead
and
proceed
and
then
we'll
save
all
of
our
other
questions
until
the
end.
E
Good
morning,
madam
chair
and
members
of
the
committee,
I
am
lauren
larson
cfo
of
the
public
employees
retirement
system
as
a
frame
of
reference.
The
system
is
not
a
general
fund
state
agency.
The
system
is
a
public
agency
with
the
powers
and
privileges
of
a
body
corporate
pursuant
to
the
nevada
constitution.
The
system
is
governed
by
the
retirement
board.
Revenue
for
the
system's
administrative
budget
is
from
the
trust
fund
on
a
per
capita
basis
for
each
member
and
benefit
recipient.
E
The
base
budget
includes
those
items
necessary
to
administer
the
trust
fund
and
fulfill
the
fiduciary
duties
old
to
owed
to
all
members
and
beneficiaries
of
the
system.
Expenses
contained
in
the
administrative
budget
include
amounts
for
actuarial
and
audit
services
required,
client
communications
and
notices,
offices
in
carson
city
and
las
vegas
and
the
disaster
recovery
site.
E
E
The
retirement
board
has
requested
the
chief
investment
officer
to
lead
the
investment
program,
provide
needed
additional
staffing
and
support
and
provide
a
career
path
for
succession
planning.
Currently,
pers
has
only
one
investment
staff,
as
ms
list
noted,
and
the
investments
now
total
over
50
billion
dollars.
E
Funds
were
approved,
starting
in
fiscal
year,
20
to
begin
the
new
system
implementation,
a
contract
with
tegret,
was
approved
by
the
retirement
board
in
november.
2020
work
is
scheduled
to
begin
with
tegrit
on
february
22nd,
which
is
monday,
and
we're
very
excited
to
kick
off
this
project,
and
this
will
continue
through
fiscal
year.
25.
E
crews
recently
amended
the
budget,
and
this
was
done
within
the
last
two
weeks.
So
very
recent.
We
amended
the
budget
to
align
with
the
tegra
payment
schedule,
so
these
changes
actually
decreased
the
fiscal
year,
22
budget
by
over
5
million
dollars
and
increase
the
fiscal
year
23
budget
by
over
1.5
million.
So
we
have
seen
some
changes
in
the
year
over
year,
budget
for
the
system,
but
overall
the
overall
implementation
costs
are
in
line
with
the
estimate
that
was
presented
to
the
legislature
in
2019.
E
E
outside
of
that
outside
of
hers.
The
system
also
has
two
minor
budgets:
one
for
the
legislators,
retirement
system
and
one
for
the
judicial
retirement
system.
These
budget
budgets
include
amounts
for
staff
time
to
administer
each
of
these
systems,
as
well
as
auditing
and
actuarial
expenses.
And
that
concludes
my
remarks
and
I'm
happy
to
answer
any
questions.
A
Okay,
thank
you
very
much.
I
believe
miss
hardage
is
going
to
start
off.
E
Yes
and
I'm
I'm
seeing
confirmation
from
our
operations
officer
sorry,
this
is
lauren
larson
cfo,
with
pers
confirmation
from
our
operations
officer
that,
yes,
we
are
on
track
with
that.
D
Okay,
great
and
then
I'm
just
looking,
I'm
still
on
decision
unit
e710,
I'm
looking
at
our
chart
and
it
looks
like
you
or
had
originally
quest
requested
10.5
in
fiscal
year
2022
and
then
9.2
in
fiscal
year
2023,
and
I
just
want
to
confirm
that
there
has
been
a
revised
amendment.
A
revised
request
and
you've
actually
dropped
down
to
a
request
of
5.2
in
fiscal
year
2022
and
then
10.8
in
fiscal
year.
2023.
Is
that
correct.
E
Lauren
larson
cfo
with
pers
that's
correct
and
that
has
been
submitted
in
nebs,
okay,.
A
You're
welcome.
I
do
have
a
couple
questions
on
the
positions.
We've
been
reviewing
a
lot
of
budgets
and
most
budgets
that
we've
been
seeing
or
freezing
positions
holding
vacancies.
A
So
I
think
we
should
have
a
little
bit
deeper
conversation
about
the
two
new
positions
and
specifically
the
responsibilities
of
a
chief
investment
officer
and
then,
if
I'm
reading
this
correctly,
it
almost
looks
like
the
the
existing
position
and
the
new
position
would
almost
be
equal
to
each
other,
but
one
is
going
to
be
paid
at
a
higher
amount
than
the
other.
So
I
just
want
to
understand
and
I'll
be
very
honest
with
you.
I
have
concerns
about
these
amounts,
especially
at
this
moment
in
time.
H
H
So
the
idea
would
be
that
the
investment
officer
position
would
essentially
become
the
staff
member
reporting
to
the
chief
investment
officer
and
the
chief
investment
officer
would
really
be
the
equivalent
of
our
investment
officer.
Currently,
so
that's
that's
how
that
reporting
would
work
so
you'd
have
the
investment
officer
reporting
to
the
chief
investment
officer
which,
by
statute
reports
to
the
executive
officer
and
ultimately,
we
all
report
to
the
retirement
board,
the
thinking
of
the
retirement
board,
I
believe,
really
comes
along
about
three
lines.
One
is
succession
planning.
One
is
segregation
of
duties
for
audit
purposes.
H
One
is
to
continue
the
duties,
but
also
to
not
have
the
risk
of
just
one
investment
staff.
Member,
as
we
all
are
aware,
you
know
over
the
last
year,
when
you
don't
have
people
working
in
the
office
as
much
a
lot
of
things
can
happen
to
your
staff
member.
We
with
a
54
billion
dollar
program,
with
a
lot
of
controls
in
place
to
move
money
to
make
decisions.
H
It's
very
difficult
with
one
staff
member
to
do
that.
Mr
edmondson
has
done
a
fabulous
job.
We
are
one
of
the
lowest
investment
programs
from
a
cost
perspective
in
the
country.
As
far
as
public
pension
plans
go,
and
I
think
the
board
sees
a
large
risk
in
having
just
one
investment
staff
member.
If
something
were
to
happen
to
mr
edmondson,
or
also
from
the
standpoint
of
segregation
of
duties
right
now,
lauren
larson,
our
cfo,
is
doing
some
of
those.
H
So
we
really
see
it
as
a
mitigation
of
risk
and
making
sure
that
if
something
were
to
happen
to
mr
edmondson,
that
our
program
would
continue
the
way
it
is
currently
structured.
Now,
there's
a
risk
whenever
you
have
an
investment
officer
coming
in
from
outside
the
system
that
there's
a
whole
culture
change
in
the
program.
We've
seen
that
with
a
lot
of
other
public
pension
systems.
H
I
also
will
say
there
was
a
survey
done
by
the
national
association
of
state
retirement
administrators
for
pension
systems
with
50
billion
dollars
and,
above
in
asset
size,
the
lowest
paid
investment
officer
in
that
group.
This
was
before
we
hit
the
50
billion
mark,
so
we
weren't
included
in
that
group.
The
lowest
paid
investment
officer
makes
more
than
double
what
our
investment
officer
makes.
We're
not
suggesting
that
our
investment
officer
or
investment
staff
should
be
paid
more
than
what
you
see
in
the
proposed
budget.
H
So
that's
a
lot
of
what
they're
thinking
that
we
have
to
make
sure
that
we
have
enough.
As
far
as
the
investment
staff
goes,
to
make
sure
that
we
aren't
at
risk
by
running
a
50
billion
dollar
program
with
one
staff
member
and
to
make
sure
that,
when
the
time
comes
for
mr
edmondson
to
move
on
into
retirement
or
elsewhere
that
we
have
a
person
in
place
on
staff
that
mr
edmondson
has
trained
to
continue
on
in
the
system
that
we
have.
H
Currently,
this
is,
I
believe,
really
important
to
the
retirement
board
as
fiduciaries
to
make
sure
that
we
we
mitigate
this
risk
of
having
just
one
investment
staff.
Member
and
I
would
be
very
upfront.
We
had
two
investment
staff
members
up
until
the
2015
session.
In
the
2015
session,
we
asked
for
the
assistant
investment
officer
position
to
be
renamed
in
the
statute
and
to
be
repurposed
as
the
chief
financial
officer,
because
at
that
time
we
saw
the
risk
as
not
having
a
cfo.
H
We
were
one
of
the
very
few
pension
systems,
public
pension
systems
in
the
country.
Without
a
cfo,
there
are
a
lot
of
accounting
issues.
We
need
to
deal
with
there's
a
lot
of
risk
in
not
having
a
cfo
from
a
segregation
of
duties
as
well,
and
so
we
had
up
until
2015
we
did
have
more
than
one
investment
staff.
The
board
felt
it
more
important
at
that
point
to
have
a
cfo.
H
We
certainly
can
hear
from
mr
edmondson
if
you
would
like
as
well
on
his
thoughts,
but
that's
kind
of
I
believe
what
the
board
was
thinking
as
far
as
the
investment
position
goes
and
do
you
want
me
to
stop
with
that
one
or
continue
on
I'm
not
sure
if
you
maybe
have
more
questions
on
the
investment
side.
A
No
thank
you.
I
I
think
that's
fine.
I
just
think
the
timing
is
really
bad.
To
be
quite
honest
with
you,
we
could
have
discussed
this
in
17
and
19..
A
I
now
understand
where
you're
coming
from,
but
when
I
look
at
these
amounts,
it
gives
me
a
bit
of
concern
you're,
making
good
arguments,
but
it's
still
not
really
good
timing
at
the
moment
for
something
like
this.
So
on
the
administrative
analyst
I
believe,
you're
not
going
to
ask,
I
want
to
understand
the
is
this
going
to
be
an
unclassified
position
or
a
classified
position.
H
Madam
chair
taylor's
for
the
record
again,
so
our
staff,
the
way
we
are
set
up
in
the
statute
we
are
not
classified,
nor
are
we
unclassified.
H
H
So
what
we
have
is
we
have
two
things
really
in
our
statute.
As
far
as
our
staff,
our
staff
is
paid
as
if
in
the
classified
service
and
can
only
be
terminate
as
if
in
the
classified
service.
So
that's
the
bulk
of
our
staff.
Those
are
the
only
two
legal
requirements
as
far
as
state
personnel
goes.
Is
that
the
pay
is,
we
can
associate
it
into
the
classified
service
and
they
can
only
be
terminated
as
I've
been.
Then
we
have
what
I
call
the
statutory
positions
or
what
we
would
call
our
executive
staff.
H
Those
are
the
positions
that
are
listed
in
the
statutes.
Those
are
positions.
My
position
is
hired
by
the
board.
Every
other
position
in
the
statute
is,
is
my
selection,
with
a
confirmation
by
the
board,
and
those
are
positions
that
are
at
will.
So,
unlike
the
rest
of
our
staff,
they
they
can,
they
are
at
will.
H
They
are
not
subject
to
termination
only
as
if
in
the
classified
service-
and
so
we
only
have
those
two
really
mechanisms
to
add
to
our
staff
and
the
reasoning
behind
putting
this
into
the
statute
was
so
that
it
was
an
upper
management
position
that
was
served
at
will
and
the
salary
level
is
lauren
where's
the
salary
level.
H
For
this
we
currently
have
an
administrative
analyst
in
the
statute,
and
so
what
this
was
going
to
do
is
create
succession
planning
and
a
track
into
the
administrative
side
up
to
the
operations
officer,
to
help
with
the
board,
with
succession
planning
on
the
administrative
side
versus
the
investment
side.
H
So
this
position
would
be
paid.
I
believe
it
two
steps
above
the
current
administrative
analyst,
which
is
one
of
the
lower
paid
positions
within
our
executive
staff
structure.
It
will
be
paid
equal
to
our
current
it
manager,
so
that's
kind
of
as
a
frame
of
reference
is,
is
paid
the
same
amount
as
you
would
see
for
it
manager
who
is
also
in
that
statute.
H
H
I
will
say
that
the
the
investment
position
is
what
is
the
board's
highest
priority
here
between
the
two
positions,
but
the
up
board
also
felt
this
one
was
important
as
well,
but
they
really
have
the
investment
position
as
the
higher
priority
from
the
risk
and
succession
planning
purposes.
C
Yes,
ma'am
chair,
I
just
want
to
go
back
to
that
the
new
system.
I,
as
I
looked
over
the
information
that
we
got
you,
you
included
your
hardware,
software
upgrades
that
that
aren't
related
to
the
system
upgrade
in
in
your
your
request.
I
I
just
want
to
make
sure
that
that
was
the
case
and
because,
because
my
question
there
is,
is
there
any
hardware
needs
that
are
not
associated
with
just
regular
upgrades?
E
Lauren
larson
cfo
with
the
public
employees
retirement
system.
There
are
certain
hardware
needs
for
the
new
system,
but
those
actually
align
with
the
same
hardware
that
we
needed
to
purchase
anyway.
E
So
the
tegret
did
provide
us
with
a
list
of
hardware
and
software
that
they
that
we
would
need
to
have
in
order
to
complete
this
project,
and
once
we
looked
over
that
list,
it
was
in
line
with
you
know,
current
hardware
and
software
that
we
already
had
or
needed.
E
We
included
the
lauren
larsen
cfo
with
pers.
We
included
the
upgrades
in
e710,
we've
always
used
e710
for
essentially
all
of
our
information
technology
items.
So
I
think
those
were
just
combined
into
one
enhancement
area,
just
that's
just
how
we've
always
submitted
our
budget
with
that
e710.
As
the
enhancement
item
related
to
information
technology.
C
Okay,
but
just
from
what
you
just
said,
though,
the
most
of
the
hardware
and
and
things
that
you
are
upgrading
are
related
to
integrity,
even
they
were
already
at
the
the
the
their
end
of
useful
life
and
you
were
going
to
replace
them
anyways.
But
you
needed
you
needed
those,
so
so
there's
so
all
of
it
basically
needed
to
be
done,
except
for
you
probably
have
some
software
in
here
that
just
or
hardware
that
just
needed
to
be
replaced
because
it
was
at
the
end
of
its
useful
life
right.
E
Lauren
larsen
cfo
with
pers,
that's
correct,
yeah,
certain
servers
and
things
needed
to
be
replaced,
but
yeah.
A
lot
of
this
did
a
lot,
I'm
sorry
the
desktops
laptops
and
tablets
and
things
those
just
needed
to
be
replaced.
And
then
there
were
certain
items
that
were
at
their
end
of
life
that
we
would
need
to
replace
anyway,
but
tegrit
is
requiring
or
recommends
those
items.
A
Welcome
committee
members
other
questions.
I
believe
there'll
there'll
be
some
more
follow-up
on
the
positions.
I
think
that
we're
going
to
want
to
get
some
more
information
on
on
workload,
things
things
along
that
line
in
order
for
us
to
make
a
decision
on
this
one,
but
committee
members
are
there
any
other
questions
on
on
the
pers.
A
A
D
D
D
We
work
to
empower
faculty
to
fulfill
our
mission
to
help
students
succeed
about
15
percent
of
nc
faculty
and
all
of
our
classified
staff.
Colleagues
are
members
of
pers.
We
are
very
grateful
that
pers
is
well
managed
with
a
lean
staff
and
that
pers
is
prudently
paying
off
unfunded
liabilities
over
a
set
20-year
time
period.
D
Nevertheless,
the
increase
in
retirement
contributions
next
fiscal
year
represents
a
0.25
percent
reduction
in
take-home
pay,
with
no
cost
of
living
adjustment
in
government.
Effective
pay
will
be
further
reduced
by
inflation,
which
was
1.7
percent
in
2020
per
the
urban
west
consumer
price
index,
along
with
the
current
4.6
percent
furlough
since
january,
and
the
increase
in
pebb
employee
health
care
premiums
last
year
by
up
to
40
percent.
D
A
Senator
brooks
will
be
cheering
and
we
will
be
starting
the
committee
at
9
00
a.m
that
allows
our
staff
and
other
folks
to
get
some
things
done
in
the
morning
before
we
start.
So
thank
you
all
and
everyone
safe
travels
home
if
you're,
not
home
already
and
have
a
good
weekend,
see
you
on
monday
we're
adjourned.