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ADOPTED | BUDGET




          Self‐Insurance Fund FY 2022/2023 Adopted Budget


          Revenues / Resources

          The FY 2022/2023 adopted Self-Insurance Fund revenues are $15,228,074.  This is a decrease of
          ($618,784), or (3.9%), from the FY 2021/2022 Adopted Budget.  Below are the revenue highlights.

                $196,538 increase in the city’s contribution for other insurance costs due to anticipated cost
                 increases for property, liability, and unemployment insurance.
                ($34,935) decrease to interest income based on estimated cash on hand that will be
                 available for investing.
                The positive claims experience that has occurred in FY 2021/2022 is expected to continue
                 into the FY 2022/2023 budget thereby resulting in a decrease cost and revenues of
                 ($841,287).
                ($100,000) decrease in the appropriation of Self Insurance Fund Reserves due to the use
                 of reserves not being needed in the upcoming year.


          Expenditures

          The FY 2022/2023 adopted expenditures in the Self-Insurance Fund are $15,228,074.  This is a
          decrease of ($618,784) or (3.9%) from the FY 2021/2022 Adopted Budget. Below are the
          expenditure highlights.

                $196,539 increase in Property, Liability and Other insurance costs is anticipated next year
                 based on increases seen in the insurance market.
                $130,346 increase in Personnel Expenses for costs associated with Hospitalization and
                 Worker’s Compensation that are being reflected in the fund. Historically, these costs had
                 been spread among other funds but upon conversion to the new financial system, it was
                 necessary to reallocate these costs to the Self Insurance fund.
                ($1,003,729) decrease in the city’s health/medical projected cost due to reduced insurance
                 claims. The trend that began in FY 2020 is projected to continue into the adopted budget
                 thereby resulting in a savings to the fund.
                $158,583 in revenue associated with benefits for the new positions adopted in the FY
                 2022/2023.
                $25,205 in expense for the merit/market estimated for FY 2022/2023.


          Balance

          The adopted budget for FY 2022/2023 reflects a positive balance of $0.









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