Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Budget topic
No spam. Unsubscribe anytime.
Council adopts $187,000 appropriation to cover Health Insurance Fund shortfall
Summary
City Council approved a budget ordinance amendment to appropriate $187,000 from the Health Insurance Fund balance after staff reported higher-than-expected claims and lower departmental contributions due to vacancies.
Newton City Council on June 15 approved a budget amendment to address a shortfall in the city’s self-insured Health Insurance Fund.
City Manager Todd Clark explained that budgeted contributions to the Health Insurance Fund were approximately $115,000 below expectations because of staffing vacancies; claims for the reduced participant pool were about $95,000 higher than budgeted, partially offset by $23,000 lower stop-loss fees. Staff recommended appropriating $187,000 from the fund balance to cover the net shortfall, and council adopted the budget ordinance amendment unanimously.
Council asked staff to implement this amendment and to continue monitoring plan participation and claims; the adopted ordinance and related documents are on file with the city clerk.
