TRS 2011 Comprehensive Annual Financial Report

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TEACHER RETIREMENT SYSTEM OF TEXAS COMPREHENSIVE ANNUAL FINANCIAL REPORT 2011 Schedule of Administrative and Capital Expenses - Budget and Actual on Budgetary Basis FOR THE FISCAL YEAR ENDED AUGUST 31, 2011 FIDUCIARY FUND PENSION AND OTHER EMPLOYEE BENEFIT TRUST FUNDS Budget PENSION TRUST FUND Actual Variance Expenses: Salaries and Wages $ 47,657,535 $ 46,197,804 $ 1,459,731 S C H E D U L E 2 Other Personnel Costs: Longevity Pay $ 621,820 $ 590,580 $ 31,240 Employer Retirement Contributions 2,575,000 2,354,167 220,833 Employer FICA Contributions 3,113,191 2,683,568 429,623 Employer Health Insurance Contributions 3,962,554 3,959,468 3,086 Benefit Replacement Pay 143,965 138,039 5,926 Other Employee Benefits 45,000 33,609 11,391 TOTAL OTHER PERSONNEL COSTS $ 10,461,530 $ 9,759,431 $ 702,099 Professional Fees and Services $ 8,550,771 $ 4,777,632 $ 3,773,139 Other Operating Expenses: Consumable Supplies and Fuels $ 468,353 $ 385,329 $ 83,024 Utilities 984,787 783,043 201,744 Travel 900,157 715,481 184,676 Rentals 2,195,826 2,066,383 129,443 Dues, Fees and Staff Development 418,901 290,099 128,802 Subscriptions and Reference Information 240,266 198,030 42,236 Printing and Reproduction Services 359,300 335,663 23,637 Postage, Mailing and Delivery Services 2,245,850 2,065,564 180,286 Software Purchases and Maintenance 2,784,429 2,604,797 179,632 Computer Hardware Maintenance 469,100 347,454 121,646 Miscellaneous Expenses 1,032,702 812,077 220,625 Insurance Premiums 701,446 668,723 32,723 Furniture and Equipment - Expensed 403,650 366,014 37,636 Maintenance - Buildings and Equipment 937,021 817,646 119,375 TOTAL OTHER OPERATING EXPENSES $ 14,141,788 $ 12,456,303 $ 1,685,485 TOTAL ADMINISTRATIVE EXPENSES - BUDGETARY BASIS $ 80,811,624 $ 73,191,170 $ 7,620,454 Pension Trust Fund: Adjustments Between Budgetary Basis and GAAP: Salaries and Wages $ 2,492,221 Professional Fees and Services 31,478 Other Operating Expenses (816,859) Reclass from Capital Assets 609,430 Depreciation Expense 2,254,739 Loss on Impairment of Capital Asset 4,477,619 Amortization 154,726 Change in Compensable Absence Obligation (743,127) Prior Year Adjustments (385,858) TOTAL DEDUCTIONS (SCHEDULE 1 - EXPENSE ACCOUNT) GAAP BASIS $ 81,265,539 * Capital Expenses: Furniture and Equipment - Capitalized $ 890,203 $ 844,327 $ 45,876 Capital Projects 5,827,996 5,636,896 191,100 TOTAL CAPITAL EXPENSES $ 6,718,199 $ 6,481,223 $ 236,976 * This amount includes total internal administrative investing activity expenses of $45,415,720 (Schedule 3). Administrative expenses net of investing activity expenses are $35,849,819 (Exhibit II). 74 FINANCIAL SECTION
TEACHER RETIREMENT SYSTEM OF TEXAS COMPREHENSIVE ANNUAL FINANCIAL REPORT 2011 FIDUCIARY FUND PENSION AND OTHER EMPLOYEE BENEFIT TRUST FUNDS TRS-CARE (RETIRED PLAN) Budget Actual Variance $ 1,655,000 $ 1,614,819 $ 40,181 $ 46,560 $ 45,100 $ 1,460 110,070 108,440 1,630 124,164 121,526 2,638 172,717 172,047 670 13,631 12,633 998 16,250 16,250 $ 483,392 $ 459,746 $ 23,646 $ 1,093,000 $ 799,865 $ 293,135 $ 5,482 $ 2,749 $ 2,733 2,131 1,466 665 8,827 4,486 4,341 119,693 116,564 3,129 3,595 3,270 325 570 242 328 23,730 14,276 9,454 137,280 117,101 20,179 11,000 5,240 5,760 1,250 45 1,205 500 500 $ 314,058 $ 265,439 $ 48,619 $ 3,545,450 $ 3,139,869 $ 405,581 TRS-Care: $ 6,467 (2,414) TOTAL ADMINISTRATIVE EXPENSES (EXHIBIT II) GAAP BASIS $ 3,143,922 (to next page) FINANCIAL SECTION 75
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TRS 2011 Comprehensive Annual Financial Report

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