Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
PEBP board asks why reserves swung so much; executive officer says reserves were drawn to cover shortfalls
Summary
Board member Michelle Kelly questioned large quarter-to-quarter changes in IBNR, catastrophic and HRA reserves; Executive Officer Celestina Glover said staff drew reserves to cover budget shortfalls.
Board member Michelle Kelly asked why the board packet showed large changes in PEBP—s reserves over the 2024-2025 plan year, citing differences between actuarial reserve levels and the cash carried in board reports.
The issue: Kelly said Segal reported reserve needs as of June 30, 2024 that appeared higher than the reserves shown in subsequent board packets and asked why the IBNR, catastrophic and HRA reserves moved…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
