Item:
Title
Budget Ordinance Amendment No. 24BCC000107 - Appropriate $1,200,000 of Benefit Fund Fund Balance and Increase the Expense Budget by an Equal Amount to Ensure Expenditures do not Exceed Budgeted Appropriations
Body
Date of BOCC Meeting: June 24, 2024
Request for Board Action:
Agenda Text
In analyzing the Benefits Plan Fund and assessing where the County’s costs for these benefits will be at fiscal year end (FY 2023-24), it is expected that expenditures may exceed the current amount budgeted for medical (health) costs. To proactively plan for this issue, the Board is requested to approve Budget Ordinance Amendment No. 21BCC000107 increasing the Benefits Plan Fund expenditure budget in the amount of $1,200,000 for medical (health) self-insured costs and increase the Benefits Plan Fund funding sources of a one-time County contribution transfer of $1,200,000 from the Benefits Fund Fund Balance.
There is available Benefits Plan Fund fund balance to make this appropriation within financial appropriate financial guidelines.
Alignment with Strategic Plan: This request relates to the following elements of the Durham County Strategic Plan: the amendment aligns with Focus Area High Performing Organization
Resource Persons: Kathy Everett-Perry, Chief Human Resources Officer; Deidre Gonzales, Benefits Manager; Shannon Wright, Budget Analyst
County Manager’s Recommendation: The County Manager recommends that the Board approve Budget Ordinance Amendment No. 24BCC000107 appropriating $1,200,000 of Benefit Fund fund balance and increasing the Benefits Fund budget by an equal amount to ensure expenditures do not exceed budgeted appropriations.
Signature
County Manager: ____________________________