FY 14-15 Adopted Budget

RISK RETENTION FUNDS

PROGRAMS

2012-13

2013-14 Budget

2014-15 Adopted

2015-16 Projected

Actual

General Risk Retention Fund This fund was established to accumulate claim reserves and to pay claims and administrative fees for general liability, vehicle liability, and public official and law enforcement liability.

Appropriation

2,553,876

2,007,303

4,367,149

4,367,689

Full Time Equivalent Positions

0.200

0.200

0.200

0.200

Employee Risk Retention Fund This fund was established for employee dental, health, and workers’ compensation coverage. The employee’s premiums and the City’s contribution are deposited in this fund. Payments for health coverage are made for the payment of claims and administrative expenses.

39,981,901

44,613,018

44,895,645

46,852,270

Appropriation

Full Time Equivalent Positions

7

7

7

7

BUDGET SUMMARY

2012-13

2013-14 Budget

2014-15 Adopted

2015-16 Projected

Actual

Expenditures:

Personnel Costs

495,630

545,886

597,650

614,115

Maintenance & Operations

42,040,147

46,074,435

48,665,144

50,605,844

Capital Outlay

0

0

0

0

Total

42,535,777

46,620,321

49,262,794

51,219,959

Total FTE Positions

7.200

7.200

7.200

7.200

Revenues:

Internal Charges Fund Balance User Charges

39,987,614 3,230,712 808,582 -148,132 43,878,776

42,555,609

44,599,694

46,551,895

3,072,712

3,921,600

3,919,564

735,000 257,000

740,000

745,000

All Other

1,500

3,500

Subtotal

46,620,321

49,262,794

51,219,959

General Fund Transfer

0

0

0

0

Total

43,878,776

46,620,321

49,262,794

51,219,959

BUDGET HIGHLIGHTS  The FY 14-15 Adopted Budget for the General and Employee Risk Retention Funds is increasing by approximately $2.6 million, or 5.7%.  The General Risk Retention Fund is increasing by approximately $2.37 million, as the result of higher claims and expenses from litigation in FY 13-14.  The Employee Risk Retention Fund is increasing by $282,627, or less than 1%.

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