The city of Waxahachie has increased the 2018-19 human resources budget by $25,000.
The Waxahachie City Council approved the budget increase during the council meeting Tuesday night at the City Hall chambers. The budget amendment increases the Human Resources – Professional Services budget from $14,050 to $39,050 for FY 2018-19.
According to the memorandum, the additional funds would come from the general fund unrestrictive reserve balance, which has sufficient enough funds to absorb the additional expenditure without any significant impact.
According to item summary, the city has seen a steady increase in health insurance premiums over the past several years, including a three percent increase in premiums this past year alone. As a result, city staff has recommended hiring a benefits consultant to make recommendations on the best pricing, plans and benefits options. The consultant will also oversee a proposal process and will negotiate rates for plan proposals on behalf of the city.
Staff recommended utilizing the services of McGriff, Seibels & Williams Inc. at the cost of $25,000. The summary states that it is possible that future insurance premium savings would recover the cost increase.
The city will start searching for an insurance provider next month and will select a provider by the end of July.