FY2023 Adopted Budget

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 2022 is expected to be $466,389 or $42,822 higher than the fiscal year 2021 ending fund balance. This is an increase of 10.11% percent. Fund balance is expected to increase in fiscal year 2023 to $480,557, which is an increase of $14,168 or 3.04%.

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