Years of rising premiums -- and underfunding by the County Commission -- have led to a $6 million deficit in the County Insurance Trust. The situation could impact more than 1600 County employees insured by the Trust.
County Executive Anthony Holt notes that a $4 million cash infusion would help solidify the trust for now. Where would those funds come from? The "Hospital" Fund -- that big pot of over $18 million the County is sitting on. This is in addition to the County's "reserve" fund, which has a balance of $11 million.
Readers might recall that these funds were not "allowed" to be used to help in this year's school budget crisis because they can only be used for "economic development" purposes.
However, it is hard to see how a one-time expense of $4 million to make up for an under-funded insurance plan furthers economic development. All it does is prevent a crisis County Commissioners have known about and chosen to ignore.
And, how is this MORE economic development than say, improving schools?
The Wellness Initiative seems a reasonable proposal and should likely be undertaken no matter what.
But for County Commission leaders to call the School Board fiscally irresponsible is simply laughable in light of this revelation.
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