R-2022-376 - 11/17/2022 RESOLUTION NO. R-2022-376
WHEREAS, the Finance Department has submitted a proposed budget for the Self-
Funded Health Insurance Fund for fiscal year 2022-2023,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 2022-2023, 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 17th day of November, 2022.
CRAIGtound
ORG , Mayor
City of R ck, Texas
ATTEST:
MEAGAN S KS, C ty Clerk
0112.20222;4855-8941-8813
EXHIBIT
„A„
City of Round Rock
Self-Funded Health Insurance Fund
2022-2023 Budget
Description of Item Actuals Budget ..-
Beginning Fund Balance $ 11,464,646 $ 11,716,086 $ 11,716,086 $ 11,479,761
REVENUES:
City Contributions 10,740,798 11,388,000 10,509,831 12,335,000
Employee Contributions 3,357,650 3,760,000 3,269,647 3,764,000
Stop Loss Reimbursements 510,046 603,000 1,538,150 700,000
Rx Rebates-Seton ACO Risk Share Reimbursement 240,719 325,000 152,847 595,000
COBRA/Retiree Contributions 279,266 280,000 309,990 315,000
Total Revenues 15,128,479 16,356,000 15,780,465 17,709,000
EXPENDITURES:
Health Claims 7,422,112 7,900,000 8,318,952 8,500,000
Prescription Claims 3,528,150 3,600,000 3,950,961 4,845,000
Stop Loss/Reinsurance Fees 1,729,114 2,006,000 1,479,949 1,700,000
Other Premiums(1) 864,014 969,000 858,895 960,000
Health Clinic 729,606 804,000 745,152 816,000
Administrative Fees 454,176 206,000 526,552 600,000
Programs&Services 149,867 191,000 136,329 193,000
Total Expenditures 14,877,039 15,676,000 16,016,790 17,614,000
Net Revenues 251,440 680,000 (236,325) 95,000
Capital
RockCare Renovation(2) - 750,000 - 750,000
Total Operating and Capital Expenditures 14,877,039 16,426,000 16,016,790 18,364,000
Ending Fund Balance 11,716,086 11,646,086 11,479,761 10,824,761
Reserves
Less: Restricted for OPEB Funding(3) 5,249,000 5,500,000 5,500,000 6,050,000
Total Reserves 5,249,000 5,500,000 5,500,000 6,050,000
Estimated Reserves for Unexpected Claims $ 6,467,086 $ 6,146,086 $ 5,979,761 $ 4,774,761
25%Reserve 3,366,500 3,919,000 4,004,198 4,403,500
Over/(Under) $ 3,100,586 $ 2,227,086 $ 1,975,564 $ 371,261
(1)Other premiums include:vision,dental,long term disability,and life insurance.
(2)Projected cost of renovating RockCare.
(3)Reserve for OPEB funding grows at industry trend of 10%per year,starting with FY 2023.