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Fiduciary Funds
Retiree Healthcare Trust
FUND SUMMARY
Change from FY2022
FY2021 FY2022 FY2022 FY2023
Adopted
Final Adopted Adjusted Adopted Amount %
Property Tax - - - - - 0.00%
Sales Tax - - - - - 0.00%
Other Tax - - - - - 0.00%
License & Permits - - - - - 0.00%
Intergovernmental - - - - - 0.00%
Charge for Service 573,852 569,525 569,525 569,925 400 0.07%
Fines & Forfeitures - - - - - 0.00%
Use of Money & Property 1,644,987 1,000,005 1,000,005 1,000,000 (5) 0.00%
Special Assesments - - - - - 0.00%
Other 27,508,136 30,414,438 30,414,438 30,547,350 132,912 0.44%
Transfer In - - - - - 0.00%
Use of Fund Balance - - - - - 0.00%
Revenue $ 29,726,975 $ 31,983,968 $ 31,983,968 $ 32,117,275 $ 133,307 0.42%
Salaries & Benefits 142,771 275,321 275,321 295,240 19,919 7.23%
Gen Operating & Maintenance 25,415,067 28,246,118 28,246,118 28,310,116 63,998 0.23%
Capital Accts - - - - - 0.00%
Debt Service Accts - - - - - 0.00%
Transfer Out & Other - 3,462,529 3,462,529 3,511,919 49,390 1.43%
Contra Accounts - - - - - 0.00%
Project Budget Account - - - - - 0.00%
Expenses $ 25,557,838 $ 31,983,968 $ 31,983,968 $ 32,117,275 $ 133,307 0.42%
2022 2023 Change
Fund AP FTE AP FTE AP FTE
Retiree Healthcare Trust - 2.25 - 2.25 - -
Total - 2.25 - 2.25 - -
FUND PURPOSE AND GOALS
The Retiree Healthcare Trust fund was created to aid in financial management activities, demonstrate legal
compliance, and allow for the separation of functions and activities related to the administration of retirees. The
Retiree Healthcare Trust Fund accounts for revenue generated and expenditures incurred in administering retired
employees’ group benefits. Fund revenues come from retiree contributions, contributions from city funds, and
interest on investments.
FY2023 DISCUSSION AND SIGNIFICANT CHANGES
The Adopted Budget:
· Increased by $67,828 in General Operating & Maintenance for Medicare Part A-B penalty cost.
· Increases by $13,169 in salary and benefits for previously approved costs associated with pay for
performance, rising health care costs and pension contributions.
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