Discussion and possible action to approve the following line item transfers:
|
|
Acct. Number |
Acct. Name |
Amount |
Bal. |
End Bal. |
|
From: |
816-0105-6060 |
Basic Life Insurance |
$16,550 |
$24,333 |
$7,783 |
|
|
001-9501-9301 |
Transfers Out |
$2,975,000 |
|
|
|
|
001-0114-6224 |
Minor Tools & Apparatus |
$350 |
$2,543 |
$2,193 |
|
|
|
|
$2,991,900 |
|
|
|
To: |
816-0105-6039 |
Cafeteria Administration |
$2,050 |
$3,217 |
$5,267 |
|
|
816-0105-6038 |
Administrative Fees |
$14,500 |
$108,913 |
$123,413 |
|
|
816-0105-9203 |
Claims Paid Prescription |
$550,000 |
$126,014 |
$676,014 |
|
|
816-0105-9201 |
Medical Claims Paid |
$900,000 |
$903,968 |
$1,803,968 |
|
|
863-0105-9201 |
Claims Paid Medical |
$600,000 |
$2,153 |
$602,153 |
|
|
863-0105-6038 |
Administrative Fees |
$1,000 |
$1,108 |
$2,108 |
|
|
863-0105-6035-01 |
Premium Retiree |
$24,000 |
$3,377 |
$27,377 |
|
|
817-0105-9201 |
WC Claims Paid |
$900,000 |
$59,212 |
$959,212 |
|
|
001-0114-6005 |
Postage & Courier Service |
$350 |
$13 |
$363 |
|
|
|
|
$2,991,900 |
|
|
Issue: There will NOT be enough funds to pay claims and any other pending items for several division accounts for the next few months.
Solution: By transferring funds to the Employee Health, Retiree, and Workers Compensation Accounts, we will be able to pay all pending items.
Result: The account will be in the black in order to pay for the claims and other pending items that will be coming in. |