Below is a summary of the Quarterly Health Fund Report for the 2020/21 fiscal year for the JHMB. This report provides a review of Income and Expenditures compared to Budget for the 2020/21 fiscal year. The Plan is managed by the Joint Health Management Board. We continue to modify and update the format as we work through all the aspects of managing the coverage and funding the Plan.
The 2020/21 fiscal year is showing a surplus of $18.507 million, compared to the budget surplus of $330,244. Plan income ended the fiscal year 5.78% higher than the annual budgeted amount per Active for the full fiscal year, with plan expenses 4.11% below budget on a per capita basis at the end of the year.
The left column shows the actual performance of the Plan against the projected performance of the Plan (shown in the right column). Please note that the figures contained in this report are based on data available to the JHMB. Audited figures may differ from those set forth in this report.
| Fourth Quarter of Fiscal Year (Actual) | Projected Annual Budget Period | |
| Income* | $194,603,816 | $183,850,433 |
| Expenditures | $176,095,961 | $183,520,189 |
| Surplus (Deficit) | $18,507,855 | $330,244 |
| Transfer of Reserves | $0.00 | $0.00 |
| Net Surplus (Deficit) | $18,507,855 | $330,244 |
| Encumbered Reserves | $91,313,246 | $80,242,412 |
| Unencumbered Reserves | $55,510,502 | $37,332,891 |
| Total Reserves | $146,823,748 | $117,575,303 |
*- Includes $8 million income funded to JHMB that was collectively bargained in FY 2020/21
Please note that expenses shown in the vendor reports can differ slightly from the paid amounts shown in the District’s Monthly Financial Report, as adjustments, credits, and delayed postings on the vendor side result in differences in the monthly costs compared to the amounts shown as paid by the District. The annual costs shown in this report have been adjusted to account for these differences and match the audited year-end financial report prepared by the District.
