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Woodbury County transfers $125,000 into self‑insured health fund to cover prior year shortfall
Summary
The board approved a resolution transferring $125,000 into the county self health insurance fund effective June 30 to cover a recorded shortfall; staff said claims exceeded collections.
Woodbury County supervisors approved a resolution to transfer $125,000 into the county's self‑insured health insurance fund to correct a shortfall as of June 30.
Ryan Erickson, board administration, told the board state law requires the fund be properly capitalized and that the county's fund balance stood at $816,846 as of June 30 but the county was about $125,000 short of that target. "We needed $816,846 as of June 30. We were approximately $125,000 short," Erickson said. He said the shortfall stemmed from health claims exceeding the year's collections and that he had discussed the transfer with the county auditor.
A motion to approve the resolution was moved and seconded by supervisors; the board recorded the vote as "aye" and the motion passed 5‑0. Erickson said the transfer is intended to correct last fiscal year's balance and that the county will need to address the issue going forward.
No public comment on the transfer was recorded during the discussion.
