|
June 26, 2012 (Recessed Meeting) Page 1145
<br />time, she advised there has been a spike in additional health insurance claim
<br />expenditures due to the upcoming change in the health insurance plan. It is
<br />estimated that the Self- Insured Hospitalization Fund will need to appropriate
<br />$492,459.00 from its fund balance to cover increases in claims for the
<br />current fiscal year.
<br />UPON MOTION of Commissioner White, seconded by Commissioner Measmer and
<br />unanimously carried, the Board adopted the following budget amendment:
<br />6/25/2012 Amount: $492,459.00
<br />Dept. Head: Shelley Farris, Acctg. Supervisor Department: Finance
<br />❑ Internal Transfer Within Department ❑ Transfer Between Departments /Funds Q Supplemental Request
<br />Purpose: This budget amendment is to appropriate Fund Balance for the Self Insured
<br />Hospitalization Fund due to the unexpected volume of claims in the last quarter of FY
<br />2012. Additional premiums are being budgeted due to the transfer of the remaining amount of
<br />funds left in the General Fund Group Health Insurance line items for the year.
<br />Account Number
<br />Account Name
<br />Approved Budget
<br />Inc Amount
<br />Dec Amount
<br />Revised Budget
<br />61061917 -6661
<br />Insurance Premiums
<br />$7,600,000.00
<br />$494,389.00
<br />$8,094,389.00
<br />61061917 -6804
<br />Insurance Refunds
<br />$294.00
<br />$119,047.00
<br />$119,341.00
<br />61061917 -6901
<br />Fund Bal Approp
<br />$0.00
<br />$492,459.00
<br />$492,459.00
<br />61091917 -9360
<br />Medical Supplies
<br />$45,000.00
<br />$33,953.00
<br />$78,953.00
<br />61091917 -9401
<br />Building Rent
<br />$30,000.00
<br />$6,065.00
<br />$23,935.00
<br />61091917 -9412
<br />Power
<br />$4,000.00
<br />$1,430.00
<br />$5,430.00
<br />61091917 -9645
<br />Hospital Claims
<br />1 $7,997,210.00
<br />$1,076,577.00
<br />$9,073,787.00
<br />Finance - Request to Waive Fund Balance Transfer to Capital Reserve Fund Per
<br />Board Policy for FY 2012
<br />Erica Nesbitt, Budget and Performance Manager, advised after the county
<br />audit is completed at the end of the fiscal year, any excess funds over
<br />fifteen (15) percent of fund balance are to be transferred to the Capital
<br />Reserve Fund, the Health Insurance Fund or the Worker's Compensation Fund, if
<br />needed. However, a waiver of this policy is requested for FY 2012 based on
<br />the County's recent history, use of fund balance for recent one -time
<br />expenditures and pending decisions on capital investments. In response to a
<br />question from the Board, she stated this will not affect the County's bond
<br />rating.
<br />Fund Balance Appropriations
<br />June 30, 2011
<br />Undesignated Fund Balance As of June 30, 2011
<br />Budgeted Expenditures (from 5 year plan, FY2012)
<br />Less 15% Fund Balance Policy
<br />Fund Balance Above 15% Policy
<br />Uncompleted FY 11 project assignments
<br />Internal Service Fund assignments
<br />General Government assignments
<br />Education assignments
<br />Estimated Landfill funding for closure /postclosure cost
<br />Public Safety assignments
<br />$ 63,755,334
<br />203,399,704
<br />30,509,956
<br />$ 33,245,378
<br />(2,514,100)
<br />(2,000,000)
<br />(4,015,301)
<br />(7,341,000)
<br />(1,200,000)
<br />(9,887,000)
<br />$ 6,287,977
<br />
|