June 17, 2013 (Regular Meeting)
<br />Page 1580
<br />the Clerk to the governing Board, and to the Finance Director for
<br />direction in carrying out this project.
<br />d. At the completion of a construction project, all unrestricted
<br />excess funds are transferred to the General Fund and the portion
<br />Of the Capital Project associated with the project is closed.
<br />Adopted this the 17 day of June, 2013.
<br />CABARRUS COUNTY BOARD OF COMMISSIONERS
<br />BY: /s/ Elizabeth F. Poole
<br />Elizabeth F. Poole, Chairman
<br />ATTEST:
<br />/sf Megan Smit
<br />Clerk to the Board
<br />(F -5) Finance - Health Insurance Fund - Budget Amendment
<br />The Finance Department annually reviews the revenues and expenditures
<br />of the Health Insurance Fund based on the actual activity that occurred in
<br />the fund. The Fund received a few one -time revenues that were not budgeted
<br />(WSACC fees for use of the clinic, insurance refunds and contributions from
<br />the general fund) and a few expenditures that were under budgeted due to
<br />changes in the insurance plan such as HSA (Health Savings Account) fees and
<br />medical supplies for the biometric screenings for insurance plan
<br />participants. The budget amendment reflects these-adjustments as well as the
<br />use Of appropriated fund balance for case claim expenditures that exceeded
<br />current year estimates.
<br />UPON MOTION of Vice Chairman White, seconded by Commissioner Burrage
<br />and unanimously carried, the Board approved the following budget amendment:
<br />Date:5 /1/2013 Amount:$926,476.00
<br />Dept. Head: Pam Dubois, Deputy County Manager Department: Fund 610 Self Insured hospital Insurance
<br />❑ Internal Transfer Within Department ❑ Transfer Between Departments /Funds © Supplemental Request
<br />Purpose: This budget amendment is to appropriate Fund Balance within the Health Insurance
<br />Internal Service Fund and the FY 2013 General Fund Contribution and new revenues received from
<br />the WSACC contract. This contract allows for WSACC employees to visit the Employee Health Clinic.
<br />In addition, this amendment is to adjust line items originally budgeted to reflect the estimated
<br />revenues to be received and expenses to be incurred by vear end.
<br />Account Number
<br />Account Name
<br />Approved Budget
<br />Inc Amount
<br />Dec Amount
<br />Revised Budget
<br />61061917 -6901
<br />FB Appropriated
<br />$0.00
<br />$201,156.00
<br />$201,156.00
<br />61061917 -6701
<br />Interest on Investment
<br />$7,500.00
<br />$2,000.00
<br />$5,500.00
<br />61061917 -6661
<br />Insurance Premiums
<br />$7,711,602.00
<br />$239,464.00
<br />$7,951,066.00
<br />61061917 -6606
<br />WSACC Program fees
<br />$0.00
<br />$22,895.00
<br />$22,895.00
<br />61061917 -6902
<br />Contrib from Gen Fund
<br />$0.00
<br />$357,000.00
<br />$357,000.00
<br />61061917 -6804
<br />Insurance Refunds
<br />$0.00
<br />$107,961.00
<br />$107,961.00
<br />61091917 -9301
<br />Office Supplies
<br />$300.00
<br />$100.00
<br />$400.00
<br />61091917 -9360
<br />Medical - Supplies
<br />$45,000.00
<br />$36,000.00
<br />$81,000.00
<br />61091917 -9485
<br />Admin Fees
<br />$1,163,400.00
<br />$20,143.00
<br />$1,183,543.00
<br />61091917- 948501
<br />H S A Origination Fees
<br />$100,000.00
<br />$196,058.001
<br />$296,058.00
<br />61091917 -9605
<br />Consultants
<br />$5,500.00
<br />$550.00
<br />$6,050.00
<br />61091917 -9570
<br />Service Contracts
<br />$334,000.00
<br />$32,000.00
<br />$302,000.00
<br />61091917 -9645
<br />Hospital Claims
<br />$6,035,512.00
<br />$705,625.00
<br />$6,741,137.00
<br />(F -6) Finance - - Request t - o Waive Fund Balance Transfer to Capital Reserve
<br />Fund
<br />Per the Board's policy, upon completion of the County's annual
<br />financial audit, any unassigned fund balance above 15 percent is transferred
<br />to the Capital Reserve Fund. A waiver Of the policy is requested for FY 2013
<br />(the policy was also waived in FY 2011 and FY 2012 due to the economy) . In
<br />the near future, staff plans to discuss fund balance policies with the Board
<br />and may suggest policy revisions at that time.
<br />The Board may choose to move funds into the Capital Reserve Fund at any
<br />time; however, once funds are placed in the Reserve, they cannot be returned
<br />to the General Fund should the need arise. Staff recommends maintaining more
<br />control over the funds during times of uncertainty or change.
<br />UPON MOTION of Vice Chairman White, seconded by Commissioner Burrage
<br />and unanimously carried, the Board approved a waiver of the Board's Fund
<br />Balance Policy for FY 2013.
<br />
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