Discussion and possible action to approve the following line item transfers:
Acct. Number
Acct. Name
Amount
Bal.
End Bal.
From:
1001-259700
Fund Balance
$3,000,000
$20,358,321
$17,358,321
6300-259700
Retiree Fund Balance
$400,000
$446,873
$46,873
6100-1090-001-432056
Administration Fees
$5,000
$1,216,772
$1,211,772
6300-1090-001-432001
Professional Services
$6,500
$18,000.00
$11,500.00
$3,411,500
To:
6100-1090-001-452010
Claims Paid Medical
$3,000,000
$141,636.18
$3,141,636.18
6300-1090-001-452010
Claims Paid Medical
$400,000
$86,255
$486,255
6100-1090-001-432001
Professional Services
$5,000
$295.00
$5,295.00
6300-1090-001-432056
Administration Fees
$6,500
$12,622.00
$19,122.00
$3,411,500
Issue: There will not be enough funds to continue to pay the Professional, Administrative Fees and Employee Medical Health claims for the remainder of 2017.
Solution: By transferring funds to the Administration Fees, Professional Services and Medical employee Health fund will will be able to pay any pending and forthcoming bills and claims.