SUBJECT:
Title
Insurance Fund - Insurance - $117,458
Body
INITIATOR:
DEPARTMENT:
Sara Caron, Director
Human Resources
DESCRIPTION/BACKGROUND:
We are requesting a one-time transfer from our Insurance - Worker’s Compensation Claims account to our Insurance Claims - Automotive account. This transfer is necessary to cover an auto claim settlement payout and the payments for our third-party insurance claim handling company.
The funds are available in the Worker’s Compensation Claims account, making it a suitable source for the transfer. These funds will be used to cover monthly premium payments, which are fixed, as well as end-of-month payments, which vary significantly, for the remainder of the fiscal year.
BUDGET/IMPACT:
Neutral
RECOMMENDED ACTION:
Recommended action
Approve attached Budget Amendment Resolution.
end