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Okaloosa County staff propose 3% market adjustment, recommend holding millage and reserves amid insurance uncertainty
Summary
County Administrator Hofstead proposed a placeholder 3% market adjustment for employees and staff recommended not using general‑fund reserves to balance FY27; budget staff estimated a 5% health‑insurance premium increase would cost about $600,000 and suggested using pro‑share refunds to offset it.
County Administrator Hofstead told the Okaloosa County Board of County Commissioners on April 21 that staff plans to include a 3% market adjustment for employees as a placeholder in the FY27 budget and will revisit that assumption once state revenue outcomes are known.
"Each 1% market adjustment is about a $705,000 impact across the entire budget," Hofstead said, adding that a 1% change translates to about $285,000 for the general fund. He said the county’s plan is to start with a 3% market adjustment unless revenue forecasts require revision.
Budget staff…
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