Agenda Text
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Requesting the appropriation of $300,000 from Unreserved Fund Balance ("Free Cash") to the Workers Compensation Insurance Fund in order to fund Workers Compensation Claims and Payments in FY22.
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Official Text
To the Honorable City Council:
I respectfully request an appropriation of $300,000 from Unreserved Fund Balance ("Free Cash") to the Workers Compensation Insurance Fund to pay Workers Compensation, claims, and medical and dental services in FY2022.
My administration seeks the creation of a Workers Compensation Insurance Fund in FY2022 to provide a vehicle to pay Workers Compensation salaries, claims, medical/dental bills, and judgments and settlements.
Currently, all of these matters are paid from the General Fund
We seek approval to appropriate a total of $735,000 into the Workers Compensation Insurance Fund for FY2022. A total of $435,000 is to be appropriated from the Tax Levy and a total of $300,000 is to be appropriated from Free Cash.
The total appropriation of $735,000 supports the following budget for FY2022:
517001 ---Workers Compensation - $425,000
530001----Medical & Dental Services- $200,000
576000----Judgements/Settlements $110,000
My staff will be available to address any questions you may have. Thank you for your consideration of this item.
Respectfully Submitted,
Joseph A. Curtatone, Mayor