Review Agenda Item
Meeting Date: 5/8/2025 - 6:30 PM
Category: APPROVAL OF CONSENT AGENDA
Type: Action
Subject: Appropriation for Health Care Payments
ACPS Division Objective :
Goal 3
Equitable, Transformative Resources
Policy: DA - Management of Funds
Enclosure
File Attachment:
FY 25 Budget Amendments - Health Care.xlsx
Summary: The transfer from Albemarle County is increasing by $1.4M in FY 25 to supplement the unbudgeted costs of the Plan Year 25 health care rate premium increase. Health care expenditures are projected to exceed the original budget by more than $1.4M and will be managed accordingly. This represents a one-time revenue increase and a recurring expenditure increase (which is addressed in the FY 26 budget process).

In addition, Albemarle County has proposed an additional transfer of $6.2M in FY 25 so that ACPS can provide an infusion of $6.2M into the Health Care fund to raise the fund's reserve balance. The payments will be distributed by state reporting categories. This represents a one-time revenue increase and one-time expenditure increase.
Funding:
Recommendation: Request the Board of Supervisors to appropriate balances as provided.
Approvals:
Recommended By:
Signed By:
Maya Kumazawa - Director of Planning and Budget
Signed By:
Jackson Zimmermann - School Finance Officer
Signed By:
Rosalyn Schmitt - Chief Operating Officer
Signed By:
Dr. Matthew Haas - Superintendent