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Budget Resolution Transferring Funds to Cover Additional Billing for Medical Insurance Self-Ins Fund FY 2022-23
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BRIEF OVERVIEW
Attached is a budget resolution to increase reserves in the Medical Insurance Self-Ins fund to the required two months of estimated claims. During FY22 and continuing into FY23 claims have been hirer than anticipated, the total mid-year increase is $1,805,288.00.
FINANCIAL IMPACT
Increase/decrease to various departments and accounts to support the additional billing.
LEGAL NOTE
The Board is authorized to act on this matter pursuant to Chapter 129.06, Florida Statutes.
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RECOMMENDATION
It is recommended the Board approve and authorize the Chairman’s signature on the attached budget resolution.