Sunday, July 15, 2012

Distinguishing Budgets

The City of San Angelo received the Distinguished Budget Award from the Government Finance Officers Association of the United States and Canada.  The city must meet GFOA criteria to garner the award. 

The document must include summaries of revenues and other financing sources, and of expenditures and other financing uses for the prior year actual, the current year budget and/or estimated current year actual, and the proposed budget year.

The City received the award for 2010, the year it raised health insurance premiums for employee/retiree dependents from 36 to 58%.  That information did not make the original budget document or presentation, nor did it make a revised budget.

The city's pattern of not adjusting the health insurance line item for Council decision continues.  The July 17 agenda shows a number of budget amendments, none of which include $480,000 in projected savings from the Aetna-Community Hospital exclusive provider arrangement or increased costs of $200,000 for reinsurance.

First public hearing and introduction of an Ordinance amending the 2011-2012 Budget for grants, new projects and incomplete projects.
Last time I checked with the City, Early Retiree Reinsurance Program (ERRP) funds were yet to be applied.  The City has three material reasons to update the budget, yet it failed to do so.

It takes an accountant to figure out the City's actual position on health insurance. That is distinguishing, just not in the same way as the budget award.

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