pamela levin. >> director lebanon going to ask you be as brief as you can be. and this will also apply to the next discussion item in this is to be sure we have sufficient time to deliberate in closed session on the member appeal. so take the time you feel is necessary to be clear >> pamela levin chief financial officer. right now the projected fund balance in the trust is by the end of this fiscal year 630 17 that were projecting 54.3 million. that is 7.4 million more than we reported in january that that swing is due to a couple of different items. one is that we have in underestimation of the impact of the illumination of the [inaudible] tax in 2017 which significant lowers the blue shield administrative cost of this was factored into the rates when they were established but we were pleasantly surprised to see that it significantly reduces the administrative rates >> so the actual fact that, just to be very clear, is the city as an employer has had its cost lowered as well. is that not true? >> correct. >> to the tune of what? >> $12 million >> $12 million.

pamela levin. >> director lebanon going to ask you be as brief as you can be. and this will also apply to the next discussion item in this is to be sure we have sufficient time to deliberate in closed session on the member appeal. so take the time you feel is necessary to be clear >> pamela levin chief financial officer. right now the projected fund balance in the trust is by the end of this fiscal year 630 17 that were projecting 54.3 million. that is 7.4 million more than we reported in january that that swing is due to a couple of different items. one is that we have in underestimation of the impact of the illumination of the [inaudible] tax in 2017 which significant lowers the blue shield administrative cost of this was factored into the rates when they were established but we were pleasantly surprised to see that it significantly reduces the administrative rates >> so the actual fact that, just to be very clear, is the city as an employer has had its cost lowered as well. is that not true? >> correct. >> to the tune of what? >> $12 million >> $12 million.

we again also heard a presentation from pamela levin, our cfo, on the planned expenditures from that fund. it really falls into two categories. its annual expenses that will be paid each year associate with help and open enrollment and other medications activities one-time expenses that we will fund things like it expenses and other things that phone systems, things of that nature that are used for-help us with communications that one-time expenses that will be paid form funds that have accumulated there so that we utilize all those funds over the years. we reviewed a detailed chart of all the expenses that are proposed to be paid the timetable for those payments, and the amount that would remain in that fund of each year for future similar projects, and at the conclusion of the presentation the again, the three members of the finance committee and the two guests present with us all-the finance committee recommended approval of this budget and the two members with us were in agreement that it-without motion. so i think at this point but it would probably be appropriate to enter their

pamela levin. >> director lebanon going to ask you be as brief as you can be. and this will also apply to the next discussion item in this is to be sure we have sufficient time to deliberate in closed session on the member appeal. so take the time you feel is necessary to be clear >> pamela levin chief financial officer. right now the projected fund balance in the trust is by the end of this fiscal year 630 17 that were projecting 54.3 million. that is 7.4 million more than we reported in january that that swing is due to a couple of different items. one is that we have in underestimation of the impact of the illumination of the [inaudible] tax in 2017 which significant lowers the blue shield administrative cost of this was factored into the rates when they were established but we were pleasantly surprised to see that it significantly reduces the administrative rates >> so the actual fact that, just to be very clear, is the city as an employer has had its cost lowered as well. is that not true? >> correct. >> to the tune of what? >> $12 million >> $12 million.