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CABARRUS COUNTY <br />BOARD OF COMMISSIONERS <br />REGULAR MEETING <br />MAY 16 2011 <br />6:30 P.M. <br />AGENDA CATEGORY: <br />Consent Agenda <br />SUBJECT: <br />Finance - Budget Amendment Appropriating $570,000 to Self- Funded <br />Insurance Funds <br />BRIEF SUMMARY: <br />Attached is a budget amendment appropriating $570,000 from the General <br />Fund Balance for transfer to the Workers Compensation Internal Service <br />Fund. These funds are needed to continue operations and to maintain the <br />recommended reserve balance as specified by our Agent, Everette Arnold. A <br />significant reserve had accumulated in this fund resulting in a ceasation <br />in operating budget contributions for several years, until FY2012. <br />Unfortunately, this fund has been depleted to the point where an infusion of <br />money is necessary. <br />Supplemental information is attached for your review. <br />REQUESTED ACTION: <br />Motion to adopt budget amendment. <br />EXPECTED LENGTH OF PRESENTATION: <br />SUBMITTED BY: <br />Pamela S. Dubois, Deputy County Manager <br />BUDGET AMENDMENT REQUIRED: <br />Yes <br />COUNTY MANAGER'S RECOMMENDATIONS /COMMENTS: <br />F -3 Page 106 <br />