Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Board approves $2 million transfer to shore up self-insured health reserve after actuary review
Summary
Following an actuarial review showing the health insurance fund shortfall, the board approved transferring $2 million from a healthier internal-service reserve to the self-insured health insurance fund to address a reported $1.6M calendar-year shortfall.
The Bay County School Board voted April 8 to transfer $2 million from another internally held reserve to the district's self-insured health insurance fund after an actuary reported that claims for the calendar year left the health fund short by about $1.6 million.
Chief financial staff (Jim, identified in the meeting) explained the actuary's review used calendar-year data through January 31 and found higher-than-expected claim costs. Jim…
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
