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Wellington ISD approves budget amendment to record FSA forfeitures, adjust insurance lines
Summary
The board approved a budget amendment to record $3,487.93 of FSA employee forfeitures as miscellaneous revenue and to increase multiple Group Health & Life Insurance line items by the same total amount.
At the March 9 meeting Business Manager Kim Phillips presented a budget amendment to record $3,487.93 in miscellaneous revenue from flexible spending account (FSA) employee forfeitures and to allocate that amount across several Group Health & Life Insurance line items.
Trustee Lance Kane moved to approve the amendment and Trustee Jonathan Killian seconded. The board adopted the amendment unanimously, 6-0. The minutes list the specific ledger lines and the increases: 199 00 5749 00 000 600 Misc. Revenue INCREASE $3,487.93 and multiple Group Health & Life Insurance codes with itemized increases totaling the same amount.
