Title
Approval of Budget Revision 2024-78 to Budget Funds for Safety Net Care Pool, County Supported Medicaid and HCAP
Recommended Action
I move that Council approve Budget Revision 2024-78 as summarized on Attachment A and the attachments be made part of the minutes of this meeting.
County Manager's Recommendation
The County Manager recommends that Council approve Budget Revision 2024-78 as requested.
Body
The Health Care Assistance Program (HCAP) Fund is responsible for making payments to the State of New Mexico Safety Net Care Pool Payments based on the prior year gross receipts tax and County Supported Medicaid is based on current year GRT. Both these payments are based on the amount of gross receipts tax (GRT) the County receives. Due to the higher volume of GRT, these payments came in higher than the budgeted amount. HCAP payments came in slightly higher than budgeted. This budget adjustment will align the payments to the 2024 budget.
The breakdown for the requested adjustment is as follows:
Safety Net Care Pool $555,635
County Supported Medicaid $416,726
HCAP $2,000
Alternatives
Council could choose not to approve Budget Revision 2024-78 and the budget would sit in a negative balance.
Fiscal and Staff Impact/Planned Item
Financial impact is summarized in the attached budget revision and grant summary.
Attachments
A - Budget Revision 2024-78