BC 2013 06 17 Regular Meeting - Laserfiche WebLink

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