FINANCIAL ACCOUNTABILITY FOR PUBLIC FUNDS (Program); RECOVERY AND RETURN OF UNCLAIMED PROPERTYGovernor's Recommendations
2021-22
Current Year Budget
2020-21
Difference
DollarsPositionsDollarsPositionsDollarsPositions
$5,630,91265.00$5,581,33765.00$49,5750.00
 

 
Policy Area:  GOVERNMENTAL OPERATIONS
Issue:            STATE HEALTH INSURANCE ADJUSTMENTS FOR FY 2020-21 - FIVE MONTHS ANNUALIZATION

Justification
Governor's Recommendations 2021-22
Distributions made from Administered Funds are not always intended to cover funding for a full fiscal year. Therefore, additional funding is required in the subsequent fiscal year to cover the full annual cost of these distributions. The annualization covers the portion of the year that was not funded in the prior year. The state employee health insurance premium increases are effective December 1, 2020 (for the coverage period beginning January 1, 2021), and this annualization covers the portion of the year (five months) that was not funded in Fiscal Year 2020-21.