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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 13. City of Pleasanton Workers Compensation Fund — Amended Budget vs.
<br /> Actual
<br /> FY 2021/22
<br /> Workers' Compensation Fund Amended Actual Variance Variance %
<br /> Beginning Fund Balance ($3,890,990) ($3,890,990) $0 0.0%
<br /> Revenues 1,545,500 1,568,803 23,303 1.5%
<br /> Expenses
<br /> Claims Paid (1,395,000) (777,766) 617,234 -44.2%
<br /> Future Liability (355,000) (554,000) (199,000) 56.1%
<br /> All other expenses (380,070) (388,626) (8,556) 2.3%
<br /> Total Expenses (2,130,070) (1,720,392) 409,678 -19.2%
<br /> Ending Fund Balance ($4,475,560) ($4,042,580) $432,981 -3.7%
<br /> Table 14. LPFD Workers Compensation Fund — FY 2020/21 Actual vs. FY 2021/22
<br /> Actual3
<br /> LPFD FY 2020/21 FY 2021/22
<br /> Workers' Compensation Fund Actual Actual Variance Variance %
<br /> Beginning Fund Balance ($4,487,991) ($2,010,124) $2,477,867 -55.2%
<br /> Revenues 4,106,427 1,561,028 (2,545,399) -62.0%
<br /> Expenses
<br /> Claims Paid (1,199,297) (1,364,113) (164,816) 13.7%
<br /> Future Liability (104,000) (321,000) (217,000) 208.7%
<br /> All other expenses (325,263) (395,655) (70,392) 21.6%
<br /> Total Expenses (1,628,560) (2,080,768) (452,207) 27.8%
<br /> Ending Fund Balance ($2,010,124) ($2,529,864) ($519,740) 154.6%
<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 /> 3 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 14 shows actual Workers
<br /> Compensation expenses for FY 2020/21 and FY 2021/22.
<br /> Page 12 of 13
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