R-14-01-23-G6 - 1/23/2014RESOLUTION NO. R -14-01-23-G6
WHEREAS, the City Council has previously adopted the 2013-2014 Self -Funded Health
Fund Budget, and
WHEREAS, the City Council wishes to amend said budget in accordance with the
attached proposal, Now Therefore
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF ROUND ROCK,
TEXAS,
That the 2013-2014 Self -Funded Health Fund Budget is amended as set forth in Exhibit
"A" attached hereto and incorporated herein.
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 23rd day of January, 2014.
ALAN MCGRAW, Mayor
City of Round Rock, Texas
ATTEST:
SARA L. WHITE, City C erk
0112 1404; 00290141/rmc
EXHIBIT
City of Round Rock, Texas
Self -Funded Health Insurance Fund
Fiscal Year 2013-2014
2012-2013 2013-2014 2013-2014
Original Revised Revision #1
Self -Funded Health Insurance Fund Actual Budget Budget #1 Variance
Revenues $ 8,435,777 $ 8,813,083 $ 9,144,165 $ 331,082
Expenditures (7,885,955) (9,314,500) (9,364,500) (50,000)
Total Change in Fund Balance $ 549,822 $ (501,417) $ _20,335) $ 281,082
2012-2013 2013-2014 2013-2014
Original Revised Revision #1
Self -Funded Health Insurance Fund Actual Budget Budget #1 Variance
Revenues $ 8,435,777 $ 8,813,083 $ 9,144,165 $
Expenditures 7,584,314 9,314,500 9,364,500
Transfers 301,641 -
Total Expenditures $ 7,885,955 $ 9,314,500 $ 9,364,500 $ 50,000
331,082
50,000
Self -Funded Health Insurance Fund - Effect of the revision on fund balance:
Fund Balance 10/01/13 $ 9,120,575
Less Reserves (*1) (6,567,086)
Estimated Revenue (FY 2013-2014) 9,144,165
Interfund Transfers
Total Funds Available
Budgeted Expenditures (9,364,500)
Estimated Unreserved Fund Balance 9/30/14 $ 2,333,154
11,697,654
* 1 Reserve requirements established in accordance with operating reserve policies.
City of Round Rock
Self -Funded Health Insurance Fund
2013-2014 Budget
Description of Item
12-13
Actual
13-14
Original
Budget
13-14
Revised
Budget #1
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:
Wellness Programs
Health Clinic
Professional Services
Administrative Fees
Stop Loss/Reinsurance Fees
Health Claims
Dental Claims
Vision Claims
Prescription Claims
Long Term Disability
Life Insurance
Total Expenditures
Transfer to General Fund
Transfer to Utility Fund
Total Transfers
Total Expenditures & Transfers
Estimated Unreserved Fund Balance 9/30/14
based on 777 employees
$ 8,570,753 $
(5,249,000)
(1,285,613)
2,036,140
475,343
170,629
25,868
6,400,668
1,157,613
24,902
16,324
164,430
8,435,777
10,471,917
6,840,737 $
(5,249,000)
(1,026,111)
565,626
250,000
175,000
15,000
6,897,203
1,252,440
23,940
55,860
143,640
8,813,083
9,378,709
9,120, 575
(5,199, 000)
(1,368,086)
2,553,489
250,000
175,000
15,000
7,159,951
1,307,418
25,371
59,199
152,226
9,144,165
11,697,654
70,006 75,000 75,000
0 0 436,000
72,686 75,000 75,000
427,308 359,000 359,000
716,607 730,500 730,500
4,305,911 6,000,000 5,614,000
465,421 495,000 495,000
35,821 50,000 50,000
1,428,000 1,375,000 1,375,000
62,553 95,000 95,000
0 60,000 60,000
7,584,314 9,314,500 9,364,500
263,000 0 0
38,641 0 0
301,641 0 0
7,885,955 9,314,500 9,364,500
$ $2,585,962 $ $64,209 $ $2,333,154
/11/fr'.....-
ROUND ROCK, TEXAS
PURPOSE IMMIX( PlIDSPERITY
City of Round Rock
Agenda Item Summary
Agenda Number: G.6
Title: Consider a resolution amending the Self -Funded Health Fund Budget for
FY 2013-2014.
Type: Resolution
Governing Body: City Council
Agenda Date: 1/23/2014
Dept Director: Cheryl Delaney, Finance Director
Cost:
Indexes:
Attachments: Resolution, Exhibit A
Department: Finance Department
Text of Legislative File 14-1088
The original FY 2014 budget was approved by Council on October 10, 2013. The budget
established the sources and uses activities of the City's health insurance needs. It
continues to restrict funds related to GASB 45 (retiree health insurance benefits).
This amendment recognizes the associated costs of $436,000 related to the establishement
of an employee health clinic. These costs will be funded with savings to be realized from
lower health claims to the City in the amount of $386,000.
Approval
City of Round Rock Page 1 Printed on 1/22/2014