Background
Original Reserve Policy is 3% of the Undesignated Fund Balance, and not to exceed 10% of the total budget.
Reserve Policy has been waived since 2009 in order to implement Program Stability Fund.
Actual Fund Reserve balance fluctuates during the year depending on collection of ad valorem revenues and provider expenditures.
Considerations for Discussion:In the event of a natural disaster JWB contractually commits to fund agencies for 2 months, in the 13/14 budget this amount is $6.9M.
To continue JWB operation for 2 months following a natural disaster, an amount of $1.2M is required.
Item II.A.
JWB - August 12, 2013 Page 1
Sources of Reserve
Implementation of Pilots / Projects
Intergovernmental Transfer (IGT)
Year-End Lapse from Provider Contracts
JWB - August 12, 2013 Page 2
Months: 1 2 2.5 3
Reserve Amount:
2 Month Contractual Obligation to Funded
Agencies:
$6.9M
Operating Reserve
7%Reserve to Total Budget: 13% 16% 20%
$11M $13.5M$9M$4.5M
JWB - August 12, 2013 Page 3
2 Month cost for JWB Operating:
$1.2M
$6.9M
$6.9M
$6.9M
$1.2M
$1.2M
$1.2M
Ideas for Spending Down the Reserve
JWB - August 12, 2013 Page 4
Cost of Business
ImprovementExpand
Provider Pool for Quality
Early Learning
Collective Impact ProjectOST
Funding
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IGT for indigent care
Donation for children’s services
JWB Revenues for children’s services
State Match for subsidized child care
Total generated for children’s services = $23.6M
* Estimate pending Board approval
Intergovernmental (IGT) and Revenue Maximization Efforts
All Children’s Hospital $1.338 $0.134
Bayfront $3.412 $0.341
*BayCare $6.775 $0.673
*Community Health Centersof Pinellas $1.500 $0.353
Targeted Case Management $0.350
Child Care Executive Partnership $1.40 $1.40
Child Care Match $0.360 $5.60
Total $13M $1.5M $2.1M $7M$13M $1.5M $2.1M $7M
Summary of 2013 - 2014 JWBItem II.B.