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CITY OF ARDEN HILLS, MINNESOTA 2023 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 />Have discontinued the entry for employee benefits to this fund as it had no effect on the financial statements. <br />Will continue to accumulate funds to cover potential future insurance claims. <br />2020 2021 2022 2023 <br />Budget Summary ACTUAL ACTUAL BUDGET BUDGET <br />Personnel Services $ - $ - $ - $ - <br />Commodities - - - - <br />Contractual Services 285,352 219,378 181,130 181,500 <br />Capital Outlay - - - - <br />Other Charges - - - - <br />Total $ 285,352 $ 219,378 $ 181,130 $ 181,500 <br />Percent Change (-23.1 %) (-17.4%) 0.2% <br />Full -Time Equivalent positions - - - - <br />Expenditures by Classification <br />