Page 33 - Approved Annual Budget FY 2019-2020_Flat

General Depreciation Fund
This section also includes the working capital summary for General Depreciation Fund, which was established for the sole
purpose of replacing rolling stock of the General Fund. Funding has been provided by a rental charge to the appropriate
department in the General Fund.

The rental paid by various departments of the General Fund for rolling stock is the budgeted acquisition cost plus
various inflation factors to be recaptured over the estimated useful life. Rental income provided in this year’s
budget amounts to $3M and an additional $941K for vehicle shortage reimbursements. Capital expenditures
planned this year amounts to $4.1M. Working Capital at year-end will be $11.8M. A detailed listing of the
acquisitions is listed on pages 307.

Health Insurance Fund
The Employee Health Insurance Fund was established to account for all expenses related to health insurance premiums and
claims for city employees.

This fund accounts for the cost of self-insured claims, health insurance premiums on excess coverage and related
administrative costs. Revenues primarily derived from other City funds to which these coverages are attributable
covers 94% of the employee cost and 68% of the dependent cost, with the differences of 6% and 32% being
contributed by the employees respectively effective this fiscal year amount to $11.6M with an additional $3.3M
being transferred in from the other Funds. Expenses have been budgeted at $13.9M, leaving working capital with
about $131K by year-end.

Retiree Health Insurance Fund
The Retiree Employee Health Insurance Fund was established to account for all expenses related to health insurance
premiums and claims for retired city employees.

Revenues are expected to come in at $1.6M, of which $844K will come from the annual required cost from other
funds and the balance primarily from retiree premiums and some interest revenue. Claims expense and
administrative expenses have been budgeted at $1.3M. Working capital is expected to amount to $963K.

Workmen’s Compensation Fund
The Workmen’s Compensation Fund was established to account for all expenses related to workmen’s compensation claims
and general liability insurance. Primary funding sources are transfers in from General Fund and Enterprise Funds.

This fund accounts for the cost of self-insured claims, insurance premiums on excess coverage and related
administrative costs related to workers’ compensation. Revenues primarily derived from other City funds to which
these coverages are attributable will drop by $265K. Expenses have been budgeted at $2.1M. A Senior
Administrative Clerk has been added to this fund. Working capital is expected to amount to $7.8M at year-end.

Property & Casualty Insurance Fund
The Property & Casualty Insurance Fund was established to account for all expenses related general liability
insurance. Primary funding sources are transfers in from General Fund and Enterprise Funds.

This fund accounts for the cost of self-insured claims, insurance premiums on excess coverage and related
administrative costs related to property and casualty insurance. Revenues primarily derived from other City funds
to which these coverages are attributable will be $800K are initially expected to offset any costs--$843K. Working
Capital is anticipated to be zero balanced to accommodate from previous year’s balance.

Executive Summary Page xxii