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The City periodically allocates portions of budget surpluses to the Workers
<br /> Compensation funds to ensure there is available funding to cover claims in the event
<br /> the City settles more claims than anticipated in the annual budget.
<br /> Table 12. City of Pleasanton Workers Compensation Fund — Amended Budget vs.
<br /> Actual
<br /> FY 2019/20 FY 2019/20
<br /> Workers'Compensation Fund Revised Actual Variance Variance%
<br /> Beginning Fund Balance ($3,051,084) ($3,051,084) $0 0.0%
<br /> Plus Revenues 1,080,000 1,099,619 19,619 1.8%
<br /> Expenses
<br /> Claims Paid (1,150,000) (1,388,652) (238,652) 20.8%
<br /> Future Liability (350,000) (643,343) (293,343) 83.8%
<br /> All other expenses (369,000) (368,977) 23 0.0%
<br /> Total Expenses (1,869,000) (2,400,972) (531,972) 28.5%
<br /> Ending Fund Balance ($3,840,084) ($4,352,437) ($512,353) 134.8%
<br /> Change in Fund Balance ($789,000) ($1,301,353) ($512,353) -134.8%
<br /> Table 13. LPFD Workers Compensation Fund — FY 2018/19 Actual vs. FY 2019/20
<br /> Actual2
<br /> FY 2018/19 FY 2019/20
<br /> LPFD Workers'Compensation Fund Actual Actual Variance Variance%
<br /> Beginning Fund Balance ($4,775,443) ($4,847,991) ($72,548) 1.5%
<br /> Plus Revenues 1,570,452 1,597,631 27,179 1.7%
<br /> Expenses
<br /> Claims Paid (780,841) (819,958) (39,117) 5.0%
<br /> Future Liability (641,312) (168,688) 472,624 -73.7%
<br /> All other expenses (220,847) (248,981) (28,134) 12.7%
<br /> Total Expenses (1,643,000) (1,237,627) 405,373 -24.7%
<br /> Ending Fund Balance ($4,847,991) ($4,487,987) $360,004 ' -77.4%
<br /> Change in Fund Balance ($72,548) $360,004 $432,552 78.9%
<br /> All Other Operating Funds
<br /> For the most part, budget variances are small for the other Operating Funds as shown
<br /> in Attachment 2. As a result, staff is not recommending any budget changes.
<br /> Submitted by: Approved
<br /> Tina Olson Nelson Fialho
<br /> Director of Finance City Manager
<br /> 2 The LPFD Workers Compensation Fund became an Agency Fund in Pleasanton's General Ledger in FY
<br /> 2019/20. Agency Funds do not have budgets associated with them since they are used to account for
<br /> funds budgeted elsewhere, which, in this case is LPFD. Thus, Table 13 shows actual Workers
<br /> Compensation expenses for FY 2018/19 and FY 2019/20.
<br /> Page 12 of 13
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