Page 65 - NRH FY20 Approved Budget

BUDGET OVERVIEW

Self-Insurance Fund

FY 18/19 Adopted FY 18/19 Revised FY 19/20 Adopted

Revenue $15,058,070 $15,312,226 $15,788,103
Expenditures $15,058,070 $15,312,226 $15,788,103
Balance $0 $0 $0

FY 2018/2019 Revised Budget

The Self Insurance Fund pays for City wide expenses related to major medical coverage for
employees, worker’s compensation coverage, property and general liability coverage, life
insurance and all administrative expenses associated with this program. Revenues are
expected to increase by $254,156 over the FY 2018/2019 Adopted Budget. This is mainly from
stop loss expenditure reimbursements. Expenditures are projected to be $687,812 lower than
the FY 2018/2019 Adopted Budget. Due to a year of good claims experience, there is a
projected positive ending balance of $1,398,280 that is reflected as a contribution to reserves.

FY 2019/2020 Adopted Budget

The Self Insurance Fund projected revenues for FY 2019/2020 are expected to increase by
$703,033 or 4.85% over the FY 2018/2019 Adopted Budget. The increase is from the city, as well
as employees and retirees. The largest increase in expenses related to the Self Insurance fund
for FY 2019/2020 is in Health/Medical. This category is up $732,579 or approximately 5.85%
over the FY 20178/2019 Adopted Budget. This fund is projected to add $379,804 to reserves.

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