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FINANCE COMMITTEE
July 20, 1989
MISCELLANEOUS RESOLUTION # 89166
BY: FINANCE COMMITTEE, DR. G. WILLIAM CADDELL, CHAIRPERSON
IN RE: MANAGEMENT AND BUDGET ESTABLISHMENT OF RESERVES FOR INCURRED BUT
NOT REPORTED HEALTH CAPE CLAIMS
TO THE OAKLAND COUNTY BOARD OF COMMISSIONERS
Mr. Chairperson, Ladies and Gentlemen:
WHEREAS the County has established a self funded program for Blue
Cross/Blue Shield benefits; and
WHEREAS creation of a reserve to cover incurred by not reported claims
was recommended pending a final accounting from Blue Cross/Blue Shield;
and
WHEREAS that final accounting has returned $1,164,467 to the County;
and
WHEREAS the recommended reserve is approximately $2 million; and
WHEREAS the County should reserve the $1,164,467 returned and provide
for the orderly build up of a reserve in the range of $2 million.
NOW THEREFORE BE IT RESOLVED the 1989 Budget be amended as follows:
Fringe Benefit Fund (#73500)
Revenues
Refund of Prior Years
Expenditures
EXpenditures
Reserve for Incurred but not
reported health care claims
$1,164,467
$1,164,467
BE IT FURTHER RESCUED that a factor be included in the departmental
charges for health care which would be sufficient to build this reserve to
$2 million by 1992.
RESOLUTION # 89166 July 20, 1989
Moved by Caddell supported by Susan Kuhn the resolution be adopted.
AYES: Price, Rewold, Skarritt, Wolf, Aaron, Bishop, Caddell, Chester,
Crake, Ferrens, Gosling, Hobart, Jensen, Johnson, S. Kuhn, Law, Luxon, McConnell,
McCulloch, McPherson, Moffitt, Oaks, Olsen, Pappageorge, Pernick. (25)
NAYS: None. (0)
A sufficient majority having voted therefor, the resolution was adopted.
STATE OF MICHIGAN)
COUNTY OF OAKLAND)
I, Lynn D. Allen, Clerk of the County of Oakland and having a seal, do
hereby certify that I have compared the annexed copy of the attached resolution,
adopted by the Oakland County Board of Commissioners at their regular meeting
held on July 20 , 1989 with the original record thereof now remaining
on file in my office, and that it is a true and correct transcript therefrom,
and of the whole thereof.
In Testimony Whereof, I have hereunto set my hand and affixed the seal
of said County at Pontiac,Michigan this 20th day of Jp1v , 1989
LYJN D. ALLEN, County Clerk
Register of Deeds