Lisa Sahulka Presentation
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The document discusses JWB's reserve policy and considerations for the reserve amount. Originally, the reserve policy was 3% of the undesignated fund balance, not to exceed 10% of the total budget, but it has been waived since 2009 to implement a Program Stability Fund. In the event of a natural disaster, JWB is contractually obligated to fund agencies for 2 months, which would cost $6.9 million. For JWB operations to continue for 2 months after a disaster would require $1.2 million. The document presents options for reserve amounts from 1 to 3 months and the associated costs. It also discusses potential sources of reserve funding and ideas for spending down the reserve.
Lisa Sahulka Presentation
- 1. Background Original Reserve Policy is 3% of the Undesignated Fund Balance, and not to exceed 10% of the total budget. Reserve Policy has been waived since 2009 in order to implement Program Stability Fund. Actual Fund Reserve balance ?uctuates during the year depending on collection of ad valorem revenues and provider expenditures. Considerations for Discussion: In the event of a natural disaster JWB contractually commits to fund agencies for 2 months, in the 13/14 budget this amount is $6.9M. To continue JWB operation for 2 months following a natural disaster, an amount of $1.2M is required. Item II.A. JWB - August 12, 2013 Page 1
- 2. Sources of Reserve Implementation of Pilots / Projects Intergovernmental Transfer (IGT) Year-End Lapse from Provider Contracts JWB - August 12, 2013 Page 2
- 3. Months: 1 2 2.5 3 Reserve Amount: 2 Month Contractual Obligation to Funded Agencies: $6.9M Operating Reserve 7%Reserve to Total Budget: 13% 16% 20% $11M $13.5M$9M$4.5M JWB - August 12, 2013 Page 3 2 Month cost for JWB Operating: $1.2M $6.9M $6.9M $6.9M $1.2M $1.2M $1.2M
- 4. Ideas for Spending Down the Reserve JWB - August 12, 2013 Page 4 Cost of Business Improvement Expand Provider Pool for Quality Early Learning Collective Impact ProjectOST Funding ? ? ? ? ? ? ? ? ? ?
- 5. IGT for indigent care Donation for children¡¯s services JWB Revenues for children¡¯s services State Match for subsidized child care Total generated for children¡¯s services = $23.6M * Estimate pending Board approval Intergovernmental (IGT) and Revenue Maximization Efforts All Children¡¯s Hospital $1.338 $0.134 Bayfront $3.412 $0.341 *BayCare $6.775 $0.673 *Community Health Centers of Pinellas $1.500 $0.353 Targeted Case Management $0.350 Child Care Executive Partnership $1.40 $1.40 Child Care Match $0.360 $5.60 Total $13M $1.5M $2.1M $7M$13M $1.5M $2.1M $7M Summary of 2013 - 2014 JWB Item II.B.