FY2022

DENTAL INSURANCE RESERVE The City provides dental coverage for permanent employees and maintains insurance reserves for this purpose. The City’s dental insurance plan is self-insured. Operating funds and participating employees are charged premiums which are deposited into the Dental Insurance Reserve Fund. The City reimburses a dental insurance provider for actual costs incurred plus a claims processing/ administrative fee. For non-union and AFSCME employees, the covered benefits are $1,500 per eligible member. For police union and fire union employees, covered benefits are $500 per eligible member. The Dental Insurance Reserve’s fund balance at the end of fiscal year 2021 is expected to be $384,020 or $9,404 higher than the fiscal year 2020 ending fund balance. This is an increase of 2.51% percent. Fund balance is expected to increase in fiscal year 2022 to $426,842, which is an increase of $42,822 or 11.15%.

650