The Self-Insurance Fund is an internal service fund established October 1, 2008, to account for the financial activities of the City’s health benefit program. This fund is totally self-supported by charges levied upon all City departments. Through this fund, the City provides medical, dental, life, and disability insurance to all eligible employees. Expenditures consist of medical and dental claims, administrative fees and re-insurance, life, and disability premiums.

Revenues and other sources for the Self-Insurance Fund total $20,786,463. This amount includes an available estimated beginning balance of $7,961,438. This is an increase of $2,015,844, or 10.7% from the fiscal year 2022 adopted budget of $18,770,579. Charges for Services comprise the largest share of the Self-Insurance Fund revenues and are proposed to total $12,220,025, or 58.8% of the total revenues and sources of funding.

Excluding the beginning fund balance, recurring revenues are proposed to total $12,825,025. This is an increase of $1,880,459, or 17.2% from the fiscal year 2022 adopted budget of $10,944,566.

It is important to note that amended, adopted, and proposed budget numbers include Beginning Fund Balance amounts, while actual and estimated actual do not. In accordance with Generally Accepted Accounting Principles, actual amounts reflect only revenues recognized each year. Beginning Fund Balance represents resources received and recognized in prior years as revenue but are available for appropriation in future years.

Expenditures and other uses for the Self-Insurance Fund total $20,786,463. This amount includes an estimated ending reserves balance of $7,961,956. Fiscal year 2023 proposed expenditures and other uses are balanced with the total proposed revenues and other sources of funding.

Excluding the estimated ending reserves balance, recurring expenditures are proposed to total $12,824,507. This is an increase of $1,444,126, or 12.7% from the fiscal year 2022 adopted budget of $11,380,381.

It is important to note that amended, adopted, and proposed budget numbers include Reserves, while actual and estimated actual do not. In accordance with Generally Accepted Accounting Principles, actual amounts reflect only expenditures recognized each year. Reserves represent funds that are held for restricted purposes or may be reallocated for specific purposes throughout the fiscal year.