From
Lisa Norris, Human Resources Director
Title
Ordinance amending the FY 2016/2017 Employee Insurance Fund Operating Budget
Presenter
Lisa Norris, Human Resources Director
Recommended Action
Approve
Analysis
Employee Insurance Fund Summary (Attachment, page 1-2):
The Insurance Fund Operating budget requires an amendment due to various changes to revenues and expenditures as of fiscal year end, September 30, 2017. Please see attached mini fund summary of changes and the detailed fund summary (if needed). Revenues increased by a net $38,882 from $19,528,230 approved to $19,567,112 resultant from increases the Drug Subsidy received, employee and retiree medical contributions and various increases to medical, dental and vision contributions received. Expenditures increased by a net $269,443 from $20,675,488 to $20,994,931 resultant primarily from higher than projected active medical claims, but less than projected retiree claims, admin fees, life/dental/vision costs, and lower miscellaneous expenses. A summary of changes is reflected on the first page of the attachment. These expenses resulted in a "Total Appropriations" change of $249,416 from $20,715,488 to $20,964,904. All in, the Ending Resources are reduced to $1,585,896.
Financial Consideration
Funding for the FY 2016/2017 Employee Insurance Operating budget amendment is available by drawing down the Ending Resources balance by the net difference.
This item was presented to the Finance and Government Committee today, December 12, 2017.
Body
AN ORDINANCE OF THE CITY OF GRAND PRAIRIE, TEXAS, AMENDING THE FY 2016/2017 EMPLOYEE INSURANCE FUND BY INCREASING REVENUES BY $38,882 TO $19,567,112, AND INCREASING TOTAL APPROPRIATIONS BY $249,416 to $20,964,904
NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF GRAND PRAIRIE, TEXAS:
SECTION 1. That the FY 2016/2017 Employee Insurance Fund be amended by increasing revenues by $38,882 and increasing expenditures by $249,416 thereby ...
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