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HomeMy WebLinkAboutBudget Transfer - Accounting09 JLtne 21st, 2022 R(e 'Healthcare Funds Transfer Dear Grant County Comm- issioners, Grant County Auditor Michele Jaderlund PO Box 37 Ephrata, WA 98823 (509) 754-2011 In May, our medical benefits plan had the second-hiRliest wee x -.y claims total., ap- p rox $1.3 million, our plan has experienced sil-Ice the, beginning of 2021. The net income for May was a 0 $553,.564.Wh1ch los f sigm Wf teanim tly pacted the fund's cash balance. As of May 31st - s 32 -Which interffind Benefits (5054 84) has a cash balance of $ 116,3 631.63.1 The average monthly net income for Interfund Benefits (505-184), based on the last. -seventeen on 01 mths of ffind performance, is a loss of $141,705.17 per month. . Based. on. care trends,, I d do not ex ect the fund to recover on its t* oon, if u (5 1 own any tine s naddressed, IntoffUl-id ene its 05- p 184) will. likely face ..a deficit, for the third time this year, in tip. n onthortwo , ext m es ing a c 'h transfer f $500 000 from. (525-000 to As such, I am requ d as o om. the Healthcare Reserve Inter fund Benefits (505-184). Thank ,you for your consideratioll, 'Katie Smith Chief Financial Officer Grant County Auditor's Office P.O. Box 37 Ephrata,'WA 98823 509-754-2011. Ext. 2740 CC: Michele Jaderlund, Darryl Pheasant, Health & Wellness Committee r7z z ji4yT iv- ; 41PROVIDING THE PUBLIC SAFE, RELIABLE, RESOURCE EFFECTIVE LOCAL GOVERNMENT SERVICES WITH INTEGRITY. " REQUESTED BY: K.SMITH REQUEST DATE: 06.21.2022 REFERENCE: HEALTHCARE FUND TRANSFER INFORMATION PROVIDED BY: KSMITH 2022 CASH TRANSFER CASH SUMMARY FUND ACCOUNT NAME TRANSFER IN TRANSFER OUT 505.000.00.0000.101000000 505 - Interfund Benefits Cash 500,000.00 525.000.00.0000.101000000 525 - Healthcare Reserve Cash 500,000.00 JE FUND ACCOUNT NAME DEBIT CREDIT 505.185.00.0000.397000000 505 - Interfund Benefits Oper. Transfers -In 500,000.00 525.000.00.0000.597000000 525 - Healthcare Reserve Oper. Transfers -Out 500,000.00 GRANT COUNTY AUDITOR INTERFUND BENEFITS ANALYSIS PROJECTIONS YTD NET CHANGE {1,070,487.15} • Beginning Balance.. ,, 1 6 50.78 8 ,8 101183.02 _ ,259 007.30 ( ) _ 91073.25 .., 669 927.95 _,,..116`363.63 474'658.46 ( ) 1: 191248.12 _ 332 953.29 _ 49' 542.95: I Transfer from Reserve , 800 000.00 1 .... . - 500 000.00 : - . '-.111-1--.--500,000.00 i 4170 17 _ - 92` 162.22. 141705:17 1 5. 1875 5 2.56' , 7 1 Transfer to Reserve 1 \a , :. ,, ,,, ,, ,,\ ., ,,. \ ,, .141 705.17. .. , , . ,-, \ � 9216 2 ,,,.1 .: \ � , , , , :: � , . 2. 2 41705.17 ,. \, 000.00 \ ,, .. 500 000 00 .... .. \ „ 000.00 , 500 \. ,, . „ , , .. Add. Trans ers ,. ,\,., , ..: , . , , , , a \ .. .,v._,. _.. .,,.. ...:..... ....... ..... ...... ... ..\ a,.,,�ava,., Payroll benefit premiums 775,056.07 801,033.80 785,529:03 _ 793,734.22 .:.... 835= 883.38 1 815 494.05 ,': 815 494.05 < _ ,;, ., 815 494.05: ; „ :815'494.05 815 494.05 ; ; .815 494.05 .., 815 494.05 . , :. , 9` 699 694.86 , v _.. Ad To I Re nu ..„. .. , , ,. \ ,.815 494.05 ,.. 9 69'694. 86,, .. ., . ,.,,, \�. :�. ., 94.0 15 494.05 815 494.05 , , ., , . , ,,,, , 815 49..05... , , 815 494.05 , ,.,, , , . 5 52.3 .793 734.22883 38. 4 , 5 .07 801033 , \ \ . \.,. , , , \ . , , \ . _ , , ... .. .. ....... .. .. ...... Weekl Claims .. ,.,..,, ': 975 233.94:'8'5'6'146'.57 .. : 1045 323.74..,_ .. ... n.., ......, ... ,, 21 .11 ;-.,.12 8 473.87 868 891.21: 868 891.21 _ 4 835 9 ... , .. ...�.., .,:,� .fir•,. „. 21 1.21 868 891.21 868 891.21. , 868 891.21;; 868 891. 868 89 , ,_. -1 10,679,251.72 Admin Fees 84,468.43 83,875.49 85,481.82 86,095.41 86,388.82 1 85,261.99 85,261.99 85,261.99 85,261.99 85,261.99 85,261.99 85,261.99 ": 1,023,143 93 1 _ _ i HR Invoices (paid b 3 387.50 ....... 821.42 4 804.02 _ :. _. „. 4 . 1 3 052.50 3 164.63 3 046.01,,,. _ 3 0 6 0 4 1' 3 046.01 3' 046.01. 3046.01`. 3046.01. 30 60 , _ 36 552.17 l Other 21,750.00 1,420.381 23,170.38 1 „,., _,.. . ,... .. �.. , . ... ..... .. ... .... ..... ... , .. ...... ... ....... , .. .. . , ,... ... .. .,\ \ , . .,.. .. \a ,. ..::.: ,. ..:.:. .:.. _. a, . , \,.,.,, �. . . ,,, . .. ,\.\ : , , ,...,, a. .� .. a,. ,,. ,,, ,,., 7 .22 ,: ,,, . ., ..957 199.22\ \ ,. ,,.,.11762 8 20. . , ,.. ,, „ 1 9.22 ., , > � 9 7 199.22..,.,...\.,..957199.22... ,.957199 22 95. 199. 447 70 957199.22 , . , . , , 957 9 5 ,, ,. , , , \ ,. 1 9. , , ....532 733.02 , ..1389 , _ . .,, „ .,. _1 8 : 7 940 843.48 1 35 60 58 \ .. � , , , ,,,. , , \ , .. , , \ _ 063 0 9 8 ., Les s T ai e s ,. ,, , ,,,.. L o ,Ex n e_ a \. , \ , wl Revenue less Expenses 288 033.80:'(139,809.68):, , ) :.. , ,. ,,..,.. � 0 80.55 139 809.68 35 0 ( ) ( ). .. .......... ..., .. .: ,... ,... ,. ... ..,;711 261001.20 553 564.32 ;; 141705.17 141705.17 ' ( ) ( _ ) (_ , ) I 141705.17 141 705.17 141705.17 141705.17 " ,, . 141705.17 (_ , .: ) ) ( ) . } ( ) ................... 2 062 423.34 (_, ) I Endm� Balance . (101,183.02) 259,007.30; , \(91;(?73 251 669,927:95 116,363.63,,. ;�,a\474,658 46 ;,,332;95 PROJECTIONS Beginning Balance 5,373,918.47 5,378,123.38 4,881,746.13 4,886,216.06 4,390,705.63 4,394,757.16 3,898,953.95 3,903,150.74 3,907,347 53 3,911,544 32 3,823,578.89 3,686,070.51 4, :79 4196:79 ` . 4196.79 50 216.22 41 6.79 ,: ., 4196.79 ` 4196.79: 4196.79 ; 196 , 7 4 469.93 , 4 489.57 4 051.53 9 , re 4 204.91 3 622.5 , Add.. Investment.lnte st .. , _ _ .... _ Less: Trnfrs to Inter Ben - 500,000.00 500,000.00 - I 500,000.00 - - - 92,162.22 141,705.17 141,705.17 1,875,572.56 c \ ,. >, ,., , , , ., ,\ ., a, ,. \, \\o ,\ ,,, „ \, , 56 .13 , 3Ni rn , .. 4 , . , .., ,. , . , ,, 1 3548 6 070.5 , ., .\ ,� , .. 3 86 a , _ , , ,.\ 23 578.89 ,, .. � \ ,, , 3 911544 , ., , , , ,. \ �� , , 47.53.., � \ , ,, ,. ) , ., ., , ,, , . , 1 4 ,. 3 907 3 . \\ ,.. » , . \ .. ., . ( , ,,, 3. 5 , .a..3 903 50 7 ,.. , , \. 898 95 9 , .. \. ,_ . ,, 4 4 :757.16.1 > \. . 78123.38 ::. 4 881746:13 ,, ... 4 886 216.06. ,.\a,4 390 705 63_ .,�r, . 39 ,\ „ , ,.��...�,.. ,: .. ,,. , ,. Endm�. Balance.. ,. , ,.,. :.,.,, . , ...5,3 , . ., ,, ,.._ , , ,_ ,,,,.. ,., , ,,, ..... , _. , . ,., , , ,. ,�.� - - - - - - - GRANT COUNTY AUDITOR INTERFUND BENEFITS ANALYSIS 1 00 .. -; 5 QQ QQQ.QQ X500 000. ,,: ; Transferfrom Re ry _� � ,, TrancfPr to RPSPrvP 1 YTD NET CHANGE (1,070,487.15) 5 1 75 572. 56 41��`705'�17 141��70 17 8 500,000.00 ,. ► 92 162'`22 1 v �1 „ „ _,..,,. 868 89 2 868 89121 10 679 251,72.. ,, _ , .868 891,21......,.,..868 891..21\\ 868 89:1.21, .421835.11 ., . _ ,1298 473.87 ..;;.,.., 868: 891:.21:......... 975.233.94.:.....•.•... 856146.52 . 1045 323:74. Weekly:Claims ,. ... __ ....... ......_. _..:.. .1 Admin Fees 84,468.43 83,875.49 85,481.82 86,095.41 86,388.82 1 85,261.99 85,261.99 85,261.99 85,261.99 85,261.99 85,261.99 85,261.99 1,023,143.93 ., ..:.. , ... .. .. .. ... . . .:.. I, :: v,. ,.:. ., ... 3 6 0 3 046.01 3 046.01, 3 046.01.. Q 30601. 04.1 ,< 5 50 ....3',.164 63 „ .;; .,..,:;3 046.01...,., ,3 046. 1 , 4 ., . , 804.02 3 0 2. 3 387 S 0 . ....:.82:1.42 __ 4 , ..., ,. ones aid H1. _ , Inv , _ 1,. 417 .17 „ 141705.17 ,,,, , _ > .. >. ,.: ,. ,. .17 , ,:: 141' 705.17 , ,,:,. 141705.17 1 OS ,..:.....261001.20...: 553.564.32 ,,..\ 141705.17 , .,.., 141705.17......... 141705: , , _) ., .. _ (_ Ex n e 288 033.80 139 809.68 350 080 55 ) ... ( _) ( L ,. (. ) ( _ Revenue .ess e s s , ,.. ( ) ..:.. ( , _ . ) . ( _ _ . ,. _ .,_ ,.,,... ,_....�..... ,... , ..._.�...... ..................a.,.,, ,......,.. _ _ PROJECTIONS Beginning Balance 5,373,918.47 5 378,123.38 4,881,746.13 4,886,216.06 4,390,705.63 4,394,757.16 3,898,953.95 3,903,150 74 3,907,347.53 3,911,544 32 3,823,578 89 7 1 ..,.,,. x.... , 4' 196.79 50 216:22 4 1 6J9 . ,..: ,, 4196.79 4196.79 4 1 6.79 .. 9 _ . _ 1 .7 4196.79: 9 , , . , 4 57, :, ., ,4051.53 4 96 9 _ _ 489. .... ......... . , 622.75- _ , 9 93 ....... . ........ .. 4 204.91..... 3 ,. i _ ... ,,,,,,,,,, Add..lnvestment Interest,-, ,. _. , „ r „ , , ,....,. , .r.: ,. „_., ,,;,,,, ,,,,,,,_. _ _..,..,ti ,_..,u.,,..�..,_, ...,.._.....,,..\. , ,. . Less: Trnfrs to Inter Ben - 500,000.00 500,000.00 - 1 500,000.00 - 92,162.22 141,705.17 141,705.17 1,875,572.56 1 _ y. . -----1 _... s. 4 y _ Via. 2} 5� 8.89 6 0 0 51 3 48 562.3 $3M min. °'" _ 7 3 886 -1606 4 .9.0.0 63 394 757, 3 8 8 9 3.9 3,903,150.4 3,,907,39,7.53 3,;�11,_,44.a 2 3,8,_.3.._..._ a,__. s_�._. ---- ( ) _ .1