R-2019-0443 - 11/14/2019 RESOLUTION NO. R-2019-0443
WHEREAS, the Finance Department has submitted a proposed budget for the Self-
Funded Health Insurance Fund for fiscal year 2019-2020, 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 2019-2020, 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 14th day of November, 2019.
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City of Round Rock, Texas
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ATTEST.
SARA L. WHITE, City Clerk
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EXHIBIT
„A»
City of Round Rock
Self-Funded Health Insurance Fund
2019-2020 Budget
AdoptedFY 2018 FY 2019 FY 2020'i
YE Revised FY 2019
Description of Item Actuals Budget Actuals ..-
Beginning Fund Balance $6,641,868 $ 7,694,869 $ 7,916,426 8,711,023
REVENUES:
Stop Loss Reimbursements 373,214 B 800,000 808,856 350,000
COBRA/Retiree Contributions 241,370 223,000 266,318 240,000
Interest Income&Inc/Dec Fair Value 116,983 50,000 126,339 100,000
Rx Rebates 132,727 200,000 194,339 200,000
City Contributions-General Fund 8,093,334 8,887,876 8,445,244 8,889,600
City Contributions-Utility Fund 1,406,334 1,690,020 1,642,020 1,708,104
City Contributions-Hotel Fund 32,336 24,936 37,683 35,120
City Contributions-Sports Complex 110,777 139,020 124,983 113,340
City Contributions-Multi Purpose 45,019 61,992 63,282 73,332
City Contributions-Drainage 168,752 287,124 287,124 251,496
Total Employee Contributions 2,609,419 3,249,502 3,174,043 3,295,262
GSFC Contribution 500,000
Total Revenues 13,830,265 15,613,470 15,170,231 15,256,254
EXPENDITURES:
Wellness Programs 52,225 80,000 59,949 80,000
Health Clinic 673,143 786,000 765,103 750,000
Janitorial Services 8,800 10,000 9,620 10,000
R&M-Building 1,880 12,300 6,611 12,300
Power&Light 26 3,000 6,674 7,000
Internet Communications 4,970 5,200 3,541 -
Office Furniture 1,000 603 1,000
Professional Services 72,000 75,000 72,000 72,000
Administrative Fees 545,204 573,000 440,375 540,000
Vision Premiums 1,512 115,000 117,270 120,000
Stop Loss/Reinsurance Fees 1,280,983 1,430,000 1,443,191 1,724,100
Health Claims 6,740,420 B 7,550,000 8,218,311 A 7,770,420
Dental Claims 553,346 600,000 573,143 622,230
Prescription Claims 2,460,077 3,000,000 2,503,487 2,868,075
Long Term Disability 89,978 80,000 81,234 89,334
Life Insurance 71,143 70,000 74,521 82,500
Total Expenditures 12,555,707 14,390,500 14,375,633 14,748,959
Net Revenues 1,274,558 1,222,970 794,597 507,295
Fund Balance 7,916,426 8,917,839 8,711,023 9,218,318
Reserves
Less: Restricted for OPEB Funding (5,249,000) (5,249,000) (5,249,000) (5,249,000)
Total Reserves (5,249,000) (5,249,000) (5,249,000) (5,249,000)
Estimated Reserves for Unexpected Claims $2,667,426 $ 3,668,839 $ 3,462,023 $ 3,969,318
25%Reserve 3,366,500 3,597,625 3,410,125 3,687,240
Over/(Under) $ (699,074) $ 71,214 $ 51,898 $ 282,079
Notes:
A.The City had higher than anticipated large claims in FY 2019.The Fund is reimbursed for these large claims
through the stop-loss coverage.The net claims after the stop-loss reimbursements are taken into account are$7.4
million.
B.The FY 2019 Revised Budget has been updated to include the FY 2019 Year-End Budget Amendment which is
on the City Council agenda for 11/14/2019.