SUBJECT:
Title
Insurance Fund - Insurance - $14,000
Body
INITIATOR: DEPARTMENT:
Sara Caron, Director Human Resources
DESCRIPTION/BACKGROUND:We are requesting a one-time transfer from Reserve for Health Claims to Disability Income Insurance Premiums. This is due to an unexpected increase in long-term disability claims exceeding our budgeted amount for the current fiscal year. Since funds in the Reserve for Health Claims are specifically allocated for health insurance claims and are typically paid for the following month, this transfer will be a one-time occurrence, aligning with the start of the new fiscal year on October 1, 2024.
BUDGET/IMPACT:
Neutral
RECOMMENDED ACTION:
Recommended action
Approve attached Budget Amendment Resolution.
end