R-12-10-25-F4 - 10/25/2012 RESOLUTION NO. R-12-10-2544
A RESOLUTION ADOPTING A BUDGET FOR THE SELF-FUNDED
HEALTH INSURANCE FUND FOR THE 2012-2013 FISCAL YEAR.
WHEREAS, the Finance Department has submitted a proposed budget for the Self-
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Funded Health Insurance Fund for fiscal year 2012-2013,Now Therefore
BE IT RESOLVED BY THE COUNCIL OF THE CITY OF ROUND ROCK,
TEXAS,
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That the budget submitted by the Finance Department for the Self-Funded Health
Insurance Fund for fiscal year 2012-2013, attached hereto as Exhibit "A", is hereby approved.
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The City Council hereby finds and declares that written notice of the date, hour, place :
and subject of the meeting at which this Resolution was adopted was posted and that such t
meeting was open to the public as required by law at all times during which this Resolution and
the subject matter hereof were discussed, considered and formally acted upon, all as required by
the Open Meetings Act, Chapter 551, Texas Government Code, as amended.
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RESOLVED this 25th day of October, 2012.
ALAN MCGRAW, Mayor
City of Round Rock, Texas
ATTEST:
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SARA L. WHITE, City Clerk
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EXHIBIT
„A)
City of Round Rock
Self-Funded Health Insurance Fund
{
2012-2013 Proposed Budget
Proposed11-12 11-12 12-13
Approved Estimated x
Description of Item Budget Actuals Budget
Fund Balance 10/1/12 $9,969,783 9,681,993 $8,587,557
Less: Restricted for GASB 45 Funding (5,249,000) (5,249,000) (5,249,000)
Less: 15%Reserves (1,993,957) (1,936,399 (1,288,133)
2,726,826 2,496,594 2,050,424
REVENUES: s
Reinsurance Proceeds 250,000 619,000 250,000
COBRA/Retiree Contributions 175,000 160,000 175,000
Interest Income 20,000 9,000 10,000
City/Employee Contributions-General Fund 6,320,794 6,050,000 6,392,577
City/Employee Contributions-Utility Fund 1,183,316 1,150,000 1,176,000
City/Employee Contributions-Hotel Fund 22,698 22,000 22,698
City/Employee Contributions-Sports Complex 0 0 7,566 {
City/Employee Contributions--Drainage 128,622 128,000 136,188
Total Revenues 8,100,430 8,138,000 8,170,029
Total Funds Available 10,827,256 10,634,594 10,220,453
EXPENDITURES:
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Wellness Programs 58,275 40,000 58,275
Professional Services 75,000 75,000 75,000
Administrative Fees 371,212 371,212 389,772
Stop Loss/Reinsurance Fees 1,005,685 847,000 1,016,400 ='
Health Claims 6,000,000 5,500,000 6,050,000
Dental Claims 350,000 450,000 495,000
Vision Claims 80,000 96,000 100,000
Prescription Claims 1,450,000 1,250,000 1,375,000
Long Term Disability 0 0 95,000
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Total Expenditures 9,390,172 8,629,212 9,654,447
Transfer to General Fund 530,600 530,600 263,000
Transfer to Utility Fund 72,624 72,624 38,641
Total Transfers 603,224 603,224 301,641
Total Expenditures&Transfers 9,993,396 9,232,436 9,956,088
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Estimated Unreserved Fund Balance 9/30/13 $833,860 $1,402,158 $264,385
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R011NDROCK,TEXAs City Council Agenda Summary Sheet
PURPOSE.PASSION.PROSPERITt
Agenda Item No. F4.-CONSENT
Agenda Caption: Consider a resolution adopting the Self-Financed Health Fund Budget for FY 2012-2013. 4
Meeting Date: October 25, 2012
Department: Finance Department
Staff Person making presentation: Cheryl Delaney
Finance Director
Item Summary:
The City provides a self-funded health, dental, and vision plan which was originally created in 1993. The City
updates the plan periodically to address the needs of its employees. By reviewing the marketplace and updating the
plan design,the City has shown cost savings throughout the years. 3
This fund accounts for the activities of the City's health insurance needs. This ordinance will establish a budget for
sources and uses related to this fund. It will continue to restrict funds related to GASB 45 (retiree health insurance
benefits)and allocate funds to the operating departments for the City's retirement program (TMRS). i
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Cost: None—Budget Adoption Only
Recommended Action: Approval
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