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Benefits fund shows January deficit; committee accepts financial report
Summary
Finance staff reported a monthly and year-to-date deficit in the county benefits fund for January; the committee accepted the report by vote.
Rutherford County benefits staff presented January financial results showing the benefits fund ran a deficit for the month and the fiscal-year-to-date comparison, and the Benefits and Insurance Committee voted to accept the financial report.
Finance presenter Mr. Elam reported that for the month of January the benefits fund (stated as the $2.64 fund) recorded revenue of $1,860,406 and expenses of $2,297,236, leaving a monthly deficit of $436,830. For the fiscal-year-to-date comparison for the 2024–25 period, Elam reported revenue of $13,607,985 and expenditures of $15,315,517, a year-to-date deficit of $1,707,533. He also provided figures for the Workers' Compensation and OJI line items and a combined year-to-date total for those categories.
"And that concludes my report, Mr. Chairman," Elam said after presenting the numbers.
Committee members had no substantive questions during the presentation and moved to accept the report. A roll-call vote was conducted; members present voted to accept the financial report.
The committee did not adopt additional actions tied to the report during the meeting; staff will continue regular financial monitoring and return with updates in subsequent meetings.
