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Budget Resolution to Transfer Funds to Cover Additional Billing for Medical Insurance Self Insurance Fund for FY 2023-24
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BRIEF OVERVIEW
During FY23, and continuing into FY24, claims have been higher than anticipated, in order to maintain reserves in the Medical Insurance Self-Ins fund that requires two months of estimated claims the transfer is needed.
FINANCIAL IMPACT
Increase/decrease to various departments and accounts to support the additional billing, as outlined on the attached resolution and supporting information.
LEGAL NOTE
The Board is authorized to act on this matter pursuant to Section 129.06, Florida Statutes.
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RECOMMENDATION
It is recommended the Board approve and authorize the Chairperson’s signature on the attached budget resolution.