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Meeting Minutes Health Care Benefits Trust Board Regular Meeting August 14, 2024| 4:00 pm Council Chambers Conference Room 88 East Chicago Street, Chandler, AZ Call to Order The meeting was called to order by Chair Terry Bond at 4:00 pm. Roll Call Commission Attendance Chair Terry Bond Vice Chair Jennifer Huppenthal Secretary Zac Cummard Mark Knight Carson Mohr Absent None Other Attendance Rae Lynn Nielsen, HR Director Fernanda Acurio, HR Manager Matthew Dunbar, Budget and Policy Director Kristi Smith, Financial Services Director Julie Goucher, Accounting Senior Manager Lina Alam, Accounting Supervisor Joshua Jumper, Heinfeld Meech Rachel Calisi, Segal Consultants Rowena Laxa, Assistant City Attorney Sarah Meland, Management Assistant Scheduled and Unscheduled Public Appearances None. Consent Agenda and Discussion 1. June 12, 2024 City of Chandler Health Care Benefits Trust Board Minutes. Move to approve the City of Chandler Health Care Benefits Trust Board meeting minutes from February 28, 2024. Page of 2 4 Consent Agenda Motion and Vote Secretary Cummard moved to approve the Minutes for June 12, 2024 Health Care Benefits Trust Board Meeting; Vice Chair Huppenthal seconded the motion. Motion carried unanimously (5-0). Briefing 2. Capital Project Funding/Bond Election Discussion – Matthew Dunbar Matthew Dunbar gave a presentation regarding Chandler’s capital project funding/bond election. The presentation and the handout entitled 2025-2034 Capital Improvement Program-GO Bond Funded Programs are attached to the meeting agenda. An additional handout entitled Bond Exploratory Committee/Election Process 2024-2025 is attached to these minutes. Chair Bond asked if inflation would continue to rise. Mr. Dunbar said that construction prices are starting to normalize. Chair Bond and Vice Chair Huppenthal asked what TPT is? Mr. Dunbar replied that TPT stands for Transaction Privilege Tax, commonly called sales tax. He went on to explain that rental TPT will be eliminated in 2025. They expect to fund the ten-year plan using current tax rates. Vice Chair Huppenthal asked the effect bonds have on property tax. Mr. Dunbar said the will stay the same. Board Member Mohr asked if the City of Chandler used a municipal advisor. Mr. Dunbar responded that we use a financial advisor and bond council. He went on to say that Chandler is a very financially stable municipality with AAA ratings on general obligation bonds and enterprise tax revenue obligations from all agencies which mean we get the best rates offered. 3. Financial Audit Report for Calendar Year 2023 – Joshua Jumper, Heinfeld Meech Josh Jumper of Heinfeld Meech presented the calendar year 2023 audit report which is attached to the meeting agenda. 4. Medical Trust Actuarial Report – Rachel Calisi, Segal Rachel Calisi of Segal presented the actuarial report through June 30, 2024. The report is attached to the meeting agenda. Chair Bond asked about the effects of specialty drugs and if it’s any particular category causing the increase. Ms. Calisi responded that it is GP-1s. Vice Chair Huppenthal commented that there may be a correlation between advertising and the increase. 5. Financial Statements and Wellness Report – Lina Alam, Management Services 6. Investment Report – Lina Alam, Management Services Kristi Smith introduced Julie Goucher who is the city’s new accounting senior manager. Lina Alam presented the Financial Statements and Wellness Report and Investment Report which are attached to the meeting agenda. There was no discussion or questions about the presentation. 7. Review Calendar Year 2025 Meeting Dates – Fernanda Acurio Page of 3 4 Fernanda Acurio asked everyone to review the proposed calendar year 2025 meeting dates. There were no objections to the dates. 8. Resolution No. HB-015 for 2025 Rates – Fernanda Acurio Fernanda Acurio presented Resolution HB-015 regarding employee benefits rates and explained that this resolution was needed every year before open enrollment. Chair Bond asked if employees were aware of the rate increase. Ms. Acurio responded that we were in the third year of a 3-year plan to raise rates and the employees were aware of this. She also stated the increase amounted to about $17 per pay period. Board Member Mohr asked if a national comparison had been conducted. Ms. Acurio confirmed there had been. Action Agenda 9. Resolution No. HB-0115 approving the Total Monthly Rates for Employee Premiums for the Red Plan, the Blue Plan, and the White Plan for Calendar Year 2025 Chair Bond asked for a motion to approve Resolution No. HB-0115 approving the Total Monthly Rates for Employee Premiums for the Red Plan, the Blue Plan, and the White Plan for Calendar Year 2025. Secretary Cummard made the motion which was seconded by Vice Chair Huppenthal. The motion passed 5-0. Member Comments/Announcements None. Calendar The next regular meeting will be held on Wednesday, November 13, 2024 at 4:00 pm in the Council Chambers Conference Room, 88 East Chicago Street. This meeting will be a joint meeting with the Workers’ Compensation and Employer Liability Trust Board. Informational Items Chair Bond let the Board know that items for future meetings are the Actuarial Audit Report, Financial Statements and Wellness Report, and the Investment Report. Adjourn Secretary Cummard motioned to adjourn the meeting which was seconded by Vice Chair Huppenthal. Motion passed unanimously (5-0). The meeting was adjourned at 4:54 pm. ______________________________ ______________________________ Zac Cummard, Secretary Terry Bond, Chair Page of 4 4