R-2023-382 - 12/7/2023 RESOLUTION NO. R-2023-382
WHEREAS, the Finance Department has submitted a proposed budget for the Self-
Funded Health Insurance Fund for fiscal year 2023-2024,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 2023-2024, 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 7th day of December, 2023.
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C�A"
O AN, Mayor
City o Ro Rock, Texas
ATTEST:
MEAGAN KS, ty Clerk
0112.20232;4885-1487-7325
EXHIBIT
City of Round Rock
Self-Funded Health Insurance Fund
2023-2024 Budget
BudgetDescription of Item Actuals ..-
Beginning Fund Balance $ 11,720,480 $ 11,600,595 $ 11,600,595 $ 11,648,367
REVENUES:
City Contributions 10,609,540 12,310,000 11,986,185 14,330,600
Employee Contributions 3,269,647 3,764,000 3,384,347 4,069,800
Other Revenues 2,070,143 1,635,000 1,623,241 1,302,000
Total Revenues 15,949,330 17,709,000 16,993,774 19,702,400
EXPENDITURES:
Claims Expenses 13,021,683 14,193,000 13,547,761 14,884,300
Administrative Expenses 2,113,626 2,412,000 1,817,497 2,589,600
Other Operational Expenses 881,481 1,009,000 925,879 992,900
Total Expenditures 16,016,790 17,614,000 16,291,138 18,466,800
Net Revenues (67,460) 95,000 702,637 1,235,600
Capital Expenditures - 750,000 654,864 -
Total Operating and Capital Expenditures 16,016,790 18,364,000 16,946,002 18,466,800
Ending Fund Balance 11,653,020 10,945,595 11,648,367 12,883,967
Reserves
Operating Reserve(25%) 4,004,198 4,591,000 4,236,500 4,616,700
Restricted for OPEB Funding 5,500,000 6,050,000 6,050,000 6,655,000
Total Reserves 9,504,198 10,641,000 10,286,500 11,271,700
Balance Available for Unexpected Claims $ 2,148,823 $ 304,595 $ 1,361,867 $ 1,612,267
2023-382