Foster City City Council
March 25, 2024

ATTACHMENT 1
FY 2024/2025 SELF INSURANCE FUND INTERNAL SERVICE CHARGES Fund Balance 6/30/2023 (Actual) 973,000$
From FY 2022/2023 ACFR
Original Projected
Budget 6/30/2024
Revenues FY 2023/2024 1,522,661$ 1,543,261$ 1,543,261$ Department Assessments 1,518,261 1,518,261
City GF 683,217$
Vehicle 197,374$
Water 318,835$
Wastewater 318,835$
Interest Earnings 4,400$ 25,000$
Expenditures FY 2023/2024 1,532,807$ 1,610,983$ (1,610,983)$ SIR - New Claims 130,000$ 130,000$
SIR - Existing Claims 130,000$ 130,000$
Liability/Property/Vehicle Premium 1,222,251$ 1,308,384$ All Risk & Bond (includes Cyber and Storage Tank) 49,556$ 41,599$ Supplies and Services 1,000$ 1,000$
Fund Balance 6/30/2024 (Projected) 905,278$
Proposed
Budget
Revenues FY 2024/2025 2,101,723$
Department Assessments 2,081,723$
City GF 45.0% 936,775$
Vehicle 13.0% 270,624$
Water 21.0% 437,162$
Wastewater 21.0% 437,162$
Interest Earnings 20,000$
Expenditures FY 2024/2025 2,007,000$
SIR - New Claims 130,000$
SIR - Existing Claims 130,000$
Liability/Property/Vehicle Premium 1,700,000$
All Risk & Bond (includes Cyber and Storage Tank) 46,000$ Supplies and Services 1,000$
Fund Balance 6/30/2025 (Projected) 1,000,001$
Target Fund Balance (1,000,000)$
Difference 1$
https://fostercity-my.sharepoint.com/personal/dpitman_fostercity_org/Documents/Finance/Budget/FY 2024-2025 Self Insurance Fund Internal Service Charges Analysis and Proposed Budget 3/19/2024 6:02 PM