Internal Service Funds


Overview

Internal Service Funds are established to finance, administer, and account for a department which provides goods and services to other City departments; and charges for these goods and services on a cost-reimbursement basis. The Internal Service Funds category includes:


  • 530 | Fleet Services Fund
  • 570 | General Liability Self-Insurance Fund
  • 575 | Workers’ Compensation Fund

Adopted budgets for the Internal Service Funds are summarized on the next few pages.

Internal Service Funds - Revenue FY24

Internal Service Funds - Expenditures FY24

Internal Service Fund Revenues vs. Expenditures

Internal Service Fund Revenues vs. Expenditures

530 | Fleet Service Fund Overview

The Fleet Services Fund is responsible for the maintenance and replacement of all the City’s vehicles, except for Fire and Emergency Medical Services apparatus, which will be maintained by an outside contractor. The Fund includes eight (8) full-time staff, a city garage, and necessary equipment, tools, and supplies to service the entire fleet.


Revenues for the Fleet Services Fund primarily derived through “lease” payments from the various City departments, total $5,196,076 for FY 2023-24 and fully cover the budgeted operating expenditures of the Fleet Services Fund. The Expenditure Budget of $5,196,076 decreased $556,942 or 10% primarily because of vehicle purchases citywide as the City works to invest in our fleet.

Fleet Service Fund Revenues vs. Expenditures

Fleet Service Fund Revenues vs. Expenditures


570 | General Liability Self-Insurance Fund Overview

This fund manages all self-insurance liability coverage for the City including payment of general and automobile liability claims. The program accounts for the operation of the Risk Management Section, payment of claims, and costs associated with defending claims against the City. By Commission action, claims for police and fire liability are also covered by this fund. The remainder of insurance premiums for other minor insurance coverage is budgeted in the General Fund.

Revenues for the General Liability Self-Insurance Fund are received from other funds in the form of operating transfers to ensure stability of reserves and to fully cover the projected operating expenditures of the Self-Insurance Program. The total revenues are mainly derived from transfers from operating funds which are budgeted at $7,545,869.


The Expenditure Budget for the General Liability Self-Insurance Fund is $7,545,869. The increase over FY 2022-23 is mainly attributed to the increase in property premium insurance rates which have more than doubled. This information is still pending review by the Florida League of Cities.


The City received a final judgement on August 31, 2022, requiring to pay $5,715,668 as legal jusgement to the plaintiff, with the City serving as defendant. Based on the cost allocation study the General Fund would contribute $4.3 Mill toward the legal judgement.

General Liability Self-Insurance Fund Revenues vs. Expenditures

General Liability Self-Insurance Fund Revenues vs. Expenditures

575 | Worker's Compensation Fund Overview

This Internal Service Fund manages the Self-Insurance Program for payment and administration of the Workers’ Compensation claims of the City. The Risk Management Section administers this program by utilizing a third-party administrator for processing and monitoring claims. The payroll system automatically calculates and transfers funds to the Self-Insurance Fund each pay period based on a computation of salaries and associated classification of risk. Savings and costs are accounted for and accumulated in the Workers’ Compensation Fund, and the rates are adjusted annually based on actual and projected claims experience


Funding of the Workers’ Compensation Fund through the various funds is budgeted at $1,415,853.


The Expenditure Budget for the Workers’ Compensation Fund is $1,415,853.

Worker's Compensation Fund Revenues vs. Expenditures

Worker's Compensation Fund Revenues vs. Expenditures