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MIHS Budget Impacts

MIHS Budget Impacts. May 5, 2004. General Fund Reserves for MIHS. Two years ago, OMB recommended $53 million reserve within the General Fund to cover MIHS accounts receivable and potential losses.

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MIHS Budget Impacts

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  1. MIHS Budget Impacts May 5, 2004

  2. General Fund Reserves for MIHS • Two years ago, OMB recommended $53 million reserve within the General Fund to cover MIHS accounts receivable and potential losses. • None of the reserve was used in FY 2002-03, but because of uncertainty in MIHS’ financial position, it was continued into FY 2003-04. • The Board of Supervisors applied $2.4 million of the reserve this year for Health Select. • Remaining Reserve: $50.6 million. • Remaining reserve has been used to fund MIHS cash loans.

  3. MIHS Year-to-Date Financial Status Net Income (thousands) Delivery System $ (4,321) AHCCCS Plan (13,271) Long Term Care Plan (28,878) Senior Select (10,320) $ (56,790) Year-to-date figures reflect $37 million IBNR accounting adjustment and other contingencies.

  4. Projected Year End Balances Delivery System $ 19,628,364 AHCCCS Plan (8,547,436) Long Term Care Plan (22,873,713) Senior Select (12,119,540)

  5. FY 2003-04 Subsidies Delivery System $ 11,826,270 (budgeted operating subsidy) AHCCCS Plan $ 8,547,436 Long Term Care Plan 22,873,713 Senior Select 12,119,540 $ 43,540,689 (from General Fund reserve) Grand Total $ 55,366,959

  6. FY 2004-05 Subsidies Delivery System $ 11,826,270 (budgeted operating subsidy) Delivery System - AHCCCS Plan 4,427,612 Long Term Care Plan 4,889,246 Senior Select 6,594,243 $ 15,911,101 (from General Fund reserve) Grand Total $ 27,737,371 Includes projected contingencies.

  7. FY 2003-04 Funding Requirements

  8. FY 2004-05 General Fund Reserves AHCCCS Plan $ 13,000,000 Long Term Care Plan 18,000,000 Senior Select 14,000,000 $ 45,000,000 Covers difference between low and high IBNR estimates.

  9. FY 2004-05 Funding Requirements Continuation of the Board’s MIHS conservative budgeting policies.

  10. Funding Plan Reserve Carry-forward $ 7,059,311 Defer New County Admin Bldg 40,000,000 Defer New County Financial System 18,000,000 $ 65,059,311 Additional Funding: Appropriated Fund Balance contingencies, including new CIP.

  11. Other General Fund Support • Correctional Health Hospital Charges • Deloitte Cash Acceleration Project • FRG Support • County Personnel (Finance, OMB, Health Care Mandates, Total Compensation, Human Resources)

  12. Budget Calendar - REVISED • MIHS Budget Submission: May 15 • Tentative Adoption: June 21 • Final Adoption: July 12 • Tax Levy: Aug. 16

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