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APPROVED BUDGET FISCAL YEAR 2022-2023
LOSS RESERVE FUND
The Loss Reserve Fund is an internal service fund used to record financial information for some
of the City’s benefits programs. The largest expenses are medical and dental claims for full-time
City employees, eligible retirees, and their dependents. The Loss Reserve Fund receives operating
fund revenues form City departments, employee contributions, and retiree contributions. The
contributions are based on cost-sharing methods and employee and retiree elections. Reserves
have accumulated in the fund since the inception of the program due to claims history, and it is
the City’s goal to maintain that reserve.
CITY OF HURST
2022-2023 ADOPTED BUDGET
LOSS RESERVE FUND
REVENUE AND EXPENDITURES
FUND BALANCE OCTOBER 1, 2022 $4,020,069
REVENUES
Group Insurance 5,685,568
Interfund Transfer from General & Enterprise Funds 250,000
Employee and Retiree Participation 1,515,465
TOTAL REVENUES $7,451,033
TOTAL FUNDS AVAILABLE $11,471,102
EXPENDITURES
Fixed Costs 155,287
Estimated Claims 5,618,582
Stop Loss Premium 1,061,609
Benefits Consultant 25,000
Other Employee Programs 265,091
RX Rebates (200,000)
Carrier Credits (90,000)
Employee Wellness Program 35,000
ACA - 680225 1,650
System Administration Fees 93,937
TOTAL EXPENDITURES $6,966,156
FUND BALANCE AS OF SEPTEMBER 30, 2023 $4,504,946
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