SUBJECT:
Title
Insurance Fund – Employee Health - $7,200,000
Body
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INITIATOR: |
DEPARTMENT: |
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Sara Caron, Director |
Human Resources |
DESCRIPTION/BACKGROUND:
The current expenditure budget appropriation is inadequate due to higher-than-anticipated claims. This increase in claims has created a shortfall that necessitates additional funding to ensure obligations are met.
To address the shortfall, we identified 3 funding sources as listed below:
341204 - Sheriff Premiums: Revenue exceeded projections, providing additional funds.
534101 - Clinic Contract: Originally overbudgeted due to a delayed opening; excess funds are available.
599505 - Reserves: Allocated for unforeseen circumstances such as this.
BUDGET/IMPACT:
Increase Insurance Fund appropriation by $382,478.
RECOMMENDED ACTION:
Recommended action
Approve attached Budget Amendment Resolution.
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