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County warns of property-and-casualty reserve shortfall; rate increases underway
Summary
The May report shows the Property & Casualty fund balance at $8.5 million and describes it as deficient in coverage; the county said rate increases began in 2025 and will continue through 2027 to rebuild reserves.
During the May review, Michael B. Colbert highlighted concerns in the county’s Internal Service Funds. He said the Property & Casualty fund balance is $8.5 million and "is deficient in coverage as we are fully self-insured; therefore, rate increases began with our 2025 self-insurance billing and will continue through 2027 to build our reserve balance." He also noted that Anthem benefits self-insurance and health insurance funds remain under pressure from high claims.
Internal Service Fund pages in the report list fund balances for Printing Services, Mailroom, Service Depot, Information Technology and self-insurance accounts. County staff indicated they will continue monitoring these funds and implementing rate adjustments already begun to rebuild reserves; no separate board vote on changes is recorded in the transcript excerpt.
Commissioners reviewed the information and were provided with the detailed schedule of internal service fund balances for follow-up in future monthly reports.
