R-2024-302 - 11/7/2024 RESOLUTION NO. R-2024-302
WHEREAS, the Finance Department has submitted a proposed budget for the Self-
Funded Health Insurance Fund for fiscal year 2024-2025, 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 2024-2025, 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 November, 2024.
CRAI MO AN, Mayor
City of Rou Rock, Texas
ATTEST:
6)1.) fkiik
ANN FRANKLIN, City Clerk
0112.20242;4866-6429-5154
City of Round Rock
Self-Funded Health Insurance Fund
2024-2025 Budget
FY 2024 FY 2025
FY 2023 Adopted FY 2024 Proposed
Description of Item Actuals Budget Actuals Budget
Beginning Fund Balance $ 11,673,507 $ 11,801,966 $ 11,801,966 $ 12,611,511
REVENUES:
City Contributions 11,986,186 14,330,600 13,012,528 14,618,200
Employee Contributions 3,384,347 4,069,800 3,580,012 3,949,000
Other Revenues 1,703,928 1,302,000 3,085,804 1,560,000
Total Revenues 17,074,461 19,702,400 19,678,344 20,127,200
EXPENDITURES:
Claims Expenses 13,547,761 14,884,300 15,359,837 16,239,300
Administrative Expenses 1,817,497 2,589,600 2,525,106 2,840,400
Other Operational Expenses 925,880 992,900 983,857 1,039,800
Total Expenditures 16,291,138 18,466,800 18,868,800 20,119,500
Net Revenues 783,324 1,235,600 809,545 7,700
Capital Expenditures 654,864 - - -
Total Operating and Capital Expenditures 16,946,002 18,466,800 18,868,800 20,119,500
Ending Fund Balance 11,801,966 13,037,566 12,611,511 12,619,211
Reserves
Operating Reserve(25%) 4,236,500 4,616,700 4,717,200 5,029,875
Restricted for OPEB Funding 6,050,000 6,655,000 6,655,000 7,320,500
Total Reserves 10,286,500 11,271,700 11,372,200 12,350,375
Balance Available for Unexpected Claims $ 1,515,466 $ 1,765,866 $ 1,239,311 $ 268,836