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CITY OF ARDEN HILLS, MINNESOTA 2020 BUDGET <br />Function: General Government Fund # 725 <br />Activity: Risk Management Activity # 49800 <br />Activity Scope <br />This Fund was established to pool dividends received from the League of Minnesota Cities for positive claims <br />experience. This fund tracks dividend revenues and deductible costs for claims. The goal of this fund is to build <br />a fund balance that would allow the City to increase deductible limits in order to reduce premium costs. <br />Dividends received from the health insurance Co-op are also deposited in this fund to use for employee <br />wellness activities and to supplement the City's contribution to health/dental insurance. <br />Objectives <br />1. Cover deductible costs on claims. <br />2. Establish employee Wellness programs to minimize health insurance costs. <br />Issues <br />Maintain the proper level of insurance coverage and deductibles to assure the best possible coverage at the <br />lowest possible cost. <br />Budget Commentary <br />Will discontinue the entry for employee benefits to this fund as it had no effect on the financial statements. Will <br />continue to accumulate funds to cover potential future insurance claims. <br />Budaet Summa <br />Personnel Services <br />Commodities <br />Contractual Services <br />Capital Outlay <br />Other Charges <br />Total <br />Percent Change <br />Full -Time Equivalent positions <br />Expenditures by Classification <br />2017 <br />ACTUAL <br />$ 8,649 <br />346,271 <br />00% <br />2018 <br />ACTUAL <br />$ 10,135 <br />127,665 <br />2019 <br />BUDGET <br />160,030 <br />2020 <br />BUDGET <br />159,000 <br />(-61.2%) 16.1% (-0.6%) <br />0.05 0.01 - <br />62 <br />0 Personnel Services <br />*Commodities <br />*Contractual Services <br />* Capital Outlay <br />■ Other Charges <br />