Title
Resolution authorizing an emergency appropriation in the Health Life Dental Fund’s IPBC Insurance Premiums Account in the amount of $400,000 for an unbudgeted benefit expenditure in the Fiscal Year 2023 budget.
Staff Summary
• A payment was made for the Intergovernmental Personnel Benefit Cooperative (IPBC) for the month of November in the amount of $3,518,516.22.
• $400,000 of this cost has not been budgeted into the account for IPBC Insurance Premiums (510-1430010-72115), requiring an emergency appropriation. The payment has already been made and this action is seeking ratification after the fact.
• This resolution appropriates funds for the balance.
Body
RESOLUTION
WHEREAS, the approved Fiscal Year (FY) 2023 Budget for the IPBC Insurance Premiums Account (510-1430010-72115) does not include sufficient funds to pay the remaining balance; and
WHEREAS, sufficient reserves are available in the Health Life Dental Fund’s fund balance for this purpose; and
WHEREAS, an emergency appropriation in the amount of $400,000 is necessary in the FY 2023 budget to offset this balance.
NOW, THEREFORE, BE IT RESOLVED, by this County Board of Lake County, Illinois, that an emergency appropriation in the amount of $400,000 is hereby authorized in the FY 2023 budget in the Health Life Dental Fund in the IPBC Insurance Premiums Account (510-1430010-72115)
DATED at Waukegan, Illinois, on November 14, 2023.