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Wilson County finance official outlines $2.4M self-insurance fund loss and recovery steps
Summary
Mr. Sebastian told the board the self-insurance fund closed FY26 with an operational loss of $2.4 million after a $3 million fund-balance transfer; he outlined reconciliations, projected additional employer contributions and options for future plan design changes.
Finance staff presented a year-end reconciliation of the district's self-insurance fund, reporting a $2.4 million loss for fiscal year 2026 after a $3.0 million transfer from the general-purpose fund. "When I reconciled our year end stuff and did the budgetary moves, at year end it produced a $2,400,000 difference," Mr. Sebastian said.
Board members asked whether the larger projected $7 million shortfall discussed earlier in the budgeting process should alter planning. Sebastian and other board members explained two ways of viewing the numbers: a $5.4 million operational shortfall excluding the fund transfer or a $2.4 million net shortfall that includes the transfer. Sebastian said he will gather actuarial and employee-use data to model options including high-deductible plans or tiered employer contributions and that additional projected revenues for FY27 could reduce pressure on the fund balance.
Members urged caution about relying on fund balance for operations and asked administration to present worst-case and best-case scenarios and options to recoup funds if needed.
