R-2021-315 - 11/18/2021 RESOLUTION NO. R-2021-315
WHEREAS, the Finance Department has submitted a proposed budget for the Self-
Funded Health Insurance Fund for fiscal year 2021-2022,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 2021-2022, 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 18th day of November, 2021.
I Az
CRAIG R N,Mayor
City of Roun ock, Texas
ATTEST:
116/,,/-),-q , Pn
MEAGAN f PINKS, City Clerk
0112.20212;488&2465-9970
EXHIBIT
"Al,
City of Round Rock f1
Self-Funded Health Insurance Fund
2021-2022 Budget
Description of Item Actuals Budget Actuals Actuals Budget
Beginning Fund Balance $ 8,778,286 $ 11,464,647 $ 11,464,647 $ 11,464,647 $11,719,999
REVENUES:
Stop Loss Reimbursements 877,217 603,000 603,000 510,046 603,000
COBRA/Retiree Contributions 308,254 240,000 240,000 279,266 280,000
Interest Income&Inc/Dec Fair Value 178,234 108,000 108,000 67,887 75,000
Rx Rebates-Seton ACO Risk Share Reimbursement 162,716 325,000 325,000 240,719 325,000
City Contributions-General Fund 8,710,694 9,193,000 9,193,000 8,700,415 9,140,000
City Contributions-Utility Fund 1,468,461 1,648,000 1,648,000 1,494,891 1,680,000
City Contributions-Hotel Fund 44,367 50,000 50,000 44,253 50,000
City Contributions-Sports Complex 89,103 127,000 127,000 97,310 102,000
City Contributions-Multi Purpose 69,954 89,000 89,000 73,030 89,000
City Contributions-Stormwater 233,600 276,000 276,000 239,848 252,000
Total Employee Contributions 3,330,714 3,560,000 3,560,000 3,357,650 3,760,000
Total Revenues 15,473,313 16,219,000 16,219,000 15,105,315 16,356,000
EXPENDITURES:
Wellness Programs 59,673 80,000 80,000 51,690 80,000
Health Clinic 690,286 750,000 750,000 707,050 773,000
Janitorial Services 9,932 10,000 10,000 9,685 10,000
R&M-Building 6,598 13,000 13,000 5,355 13,000
Power&Light 6,769 7,000 7,000 5,769 7,000
Office Supplies 1,804 1,000 1,000 1,747 1,000
Professional Services 72,000 72,000 72,000 71,101 72,000
Employee Recognition Program - 39,000 39,000 - 39,000
Administrative Fees 270,204 540,000 540,000 454,176 206,000
Vision Premiums 120,663 120,000 120,000 120,862 112,000
Stop Loss/Reinsurance Fees 1,612,111 1,771,000 1,771,000 1,729,114 2,006,000
Health Claims 6,372,628 7,771,000 7,771,000 7,422,112 7,900,000
Dental Claims 505,046 623,000 623,000 581,045 660,000
Prescription Claims 2,900,957 3,038,000 3,038,000 3,528,150 3,600,000
Long Term Disability 82,870 94,000 94,000 84,816 102,000
Life Insurance 75,409 87,000 87,000 77,291 95,000
Total Expenditures 12,786,951 15,016,000 15,016,000 14,849,963 15,676,000
Net Revenues 2,686,361 1,203,000 1,203,000 255,352 680,000
Capital
RockCare Relocation(1) - - - - 750,000
Total Operating and Capital Expenditures 12,786,951 15,016,000 15,016,000 14,849,963 16,426,000
Ending Fund Balance 11,464,647 12,667,647 12,667,647 11,719,999 11,649,999
Reserves
Less: Restricted for OPEB Funding(2) 5,249,000 5,249,000 5,249,000 5,249,000 5,500,000
Total Reserves 5,249,000 5,249,000 5,249,000 5,249,000 5,500,000
Estimated Reserves for Unexpected Claims $ 6,215,647 $ 7,418,647 $ 7,418,647 $ 6,470,999 $ 6,149,999
25%Reserve 3,366,500 3,754,000 3,754,000 3,712,491 3,919,000
Over/(Under) $ 2,849,147 $ 3,664,647 $ 3,664,647 $ 2,758,508 $ 2,230,999
(1)Projected cost of relocating RockCare due to construction on RM 620.
(2)Reserve for OPEB funding increased to$5.5M for FY 2022 and will grow at the medical trend of 10%going forward.
https://roundrocktexas.sharepoint.com/sites/FIN-FinDiv/Division Files/Budget/FY 22/Fund Schedules/Health Fund/Health Fund FY2221-22 Fund Schedule