From
Lisa Norris, Human Resources Director
Title
Insurance Fund Monthly Review - Lisa Norris, Human Resources Director
Presenter
Lisa Norris, Human Resources Director
Recommended Action
Review Only
Analysis
This analysis covers the experience in the Employee Insurance Fund through September 2018:
Employee Insurance Fund (Attachment 1):
The fiscal year has come to an end and the Insurance Fund ended well, with a final Ending Resource balance of $3,277,807 (green column, row 53). Active claims (row 25) hit around $900,000 in September and reached $12,815,056, only 83% of budgeted at fiscal year end! Retirees reached $2,864,063 (row 26) - only 95% of budgeted (column 2). This year ended very positive with an operating balance of $4.4 million.
Financial Consideration
The current budget is approved and no financial consideration is necessary at this time until additional claims data based on future months can be reviewed.