Issue link: https://newsleader.uberflip.com/i/305631
Further, she pointed out that having "rainy day" reserves helped the county cope with the recession. "Thank heavens they were put in place," she said. Patterson noted the economic uncertainty fund will be depleted in the 2016 fiscal year, based on current projections. "In future years, we should try to build something back up," she told her colleagues. The commissioners did agree to lower the medical fund reserve from a level reflecting 20 percent of total projected claims to 16.67 per- cent, which is more in line with the amount kept in such funds in Lee and Hillsborough counties, for example. Rising expenses for the medical reserve, an insurance program self-funded by the county, has led to less money in the account, staff has pointed out since last year. "We are not meeting the reserve policy [of 20 percent]," Botelho said, "and that is not a good thing." However, he pointed out, that policy previously set by the County Commission was higher than the industry standard. The actual reserves in the fund reflect 18 per- cent of projected claims, according to data provided to the board. % A chart shows totals in several reserve funds for Sarasota County at the end of the 2013 fiscal year on Sept. 30, 2013. Image courtesy Sarasota County Sarasota News Leader May 2, 2014 Page 31