R-13-10-10-G4 - 10/10/2013RESOLUTION NO. R -13-10-10-G4
WHEREAS, the Finance Department has submitted a proposed budget for the Self -
Funded Health Insurance Fund for fiscal year 2013-2014, Now Therefore
BE IT RESOLVED BY THE COUNCIL OF THE CITY OF ROUND ROCK,
TEXAS,
That the budget submitted by the Finance Department for the Self -Funded Health
Insurance Fund for fiscal year 2013-2014, attached hereto as Exhibit "A", is hereby approved.
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
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.
RESOLVED this 10th day of October, 2013.
ATTEST:
SARA L. WHITE, City Cler
0112.1304,00283591
ALAN MCGRAW, Mayor
City of Round Rock, Texas
City of Round Rock
Self -Funded Health Insurance Fund
2013-2014 Budget
EXHIBIT
„A„
Description of Item
12-13
Approved
Budget
12-13
Estimated
Actuals
13-14
Proposed
Budget
Fund Balance 10/1/13
Less: Restricted for GASB 45 Funding
Less: 15% Reserves
REVENUES:
Reinsurance Proceeds
COBRA/Retiree Contributions
Interest Income
City/Employee Contributions - General Fund
City/Employee Contributions - Utility Fund
City/Employee Contributions - Hotel Fund
City/Employee Contributions - Sports Complex
City/Employee Contributions -- Drainage
Total Revenues
Total Funds Available
EXPENDITURES:
$8,587,557
(5,249,000)
(1,288,134)
8,570,753
(5,249,000)
(1,285,613)
2,050,423 2,036,140
$6,840,737
(5,249,000)
(1,026,111)
565,626
250,000 430,000 250,000
175,000 175,000 175,000
10,000 10,000 15,000
6,392,577 5,950,000 6,897,203
1,176,000 1,060,000 1,252,440
22,698 23,000 23,940
7,566 9,900 55,860
136,188 142,000 143,640
8,.170,029
10,220,452
7,799,900 8,813,083
9,836,040 9,378,709
Wellness Programs 58,275 73,275 75,000
Professional Services 75,000 75,000 75,000
Administrative Fees 389,772 426,000 359,000
Stop Loss/Reinsurance Fees 1,016,400 725,000 730,500
Health Claims 6,050,000 6,000,000 6,000,000
Dental Claims 495,000 465,000 495,000
Vision Claims 100,000 50,000 50,000
Prescription Claims 1,375,000 1,350,000 1,375,000
Long Term Disability 95,000 64,000 95,000
Life Insurance 0 0 60,000
Total Expenditures 9,654,447 9,228,275 9,314,500
Transfer to General Fund
Transfer to Utility Fund
Total Transfers
Total Expenditures & Transfers
Estimated Unreserved Fund Balance 9/30/14
based on 777 employees
263,000 263,000
38,641 38,641
301,641
9,956,088
$264,364
0
0
301,641 0
9,529,916 9,314,500
$306,124 $64,209
City of Round Rock
Agenda Item Summary
Agenda Number: G.4
Title: Consider a resolution adopting the Self -Funded Health Fund Budget for
FY 2013-2014.
Type: Resolution
Governing Body: City Council
Agenda Date: 10/10/2013
Dept Director: Cheryl Delaney, Finance Director
Cost: $0.00
Indexes: Self -Funded Health Insurance
Attachments: Resolution, Exhibit A
Text of Legislative File 13-779
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.
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).
Staff recommends approval.
City of Round Rock Page 1 Printed on 10/8/2013