The little-known state board charged with deciding how much of a salary hike New York City’s police officers should get could rule as soon as today.

The three-person panel took the case on in November when negotiators for the Bloomberg administration and the police officers’ union reached an impasse.

News agencies reported over the weekend that the panel’s binding ruling would call for a 10% raise over two years – far more than what Mayor Bloomberg offered.

A two-year raise of 10% could have substantial ramifications. For months, leaders of city unions, including those for the teachers and firefighters, have been anxiously awaiting a decision from the Public Employment Relations Board on the police contract. They believe it may provide a template for their own contracts.

They have also been hoping the contract would not resemble the one the administration hammered out with the city’s largest municipal union, District Council 37. The mayor has tried to make that the model and said the city cannot afford higher raises for police officers, firefighters, and teachers.

A spokesman for the Patrolmen’s Benevolent Association, Al O’Leary, said yesterday that the panel was scheduled to reconvene today.

“There’s a possibility that there could be an award tomorrow, but we won’t know until there’s an announcement,” he said.

Mr. Bloomberg, too, was hesitant to answer questions on the subject. “It’s not up to me,” he told reporters before marching in the gay pride parade. “They’ve gone, they’ve chosen to go to binding arbitration. It is up to the arbitrators, and until they rule you know pretty much the same thing that I know.”

Meanwhile, the City Council and the administration are still negotiating a budget. Sources said last night that they were haggling over $100 million for city services. The budget is due July 1.