HomeMy WebLinkAboutMINUTES - 05182004 - C59 TO: BOARD OF SUPERVISORS ------` Contra
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FROM: William Walker MDDirector of
Health Services Department Costa
County
oruK
SUBJECT: Departmental Deposit for State Department of Managed Health Gare
SPECIFIC REQUEST(S)OR RECOMMENDA T ION(S)&BACKGROUND AND JUST;.miCAT]ON
RECOMMENDATION:
Authorize the County Treasurer to deposit$1,540,000 with a bank or savings and
loan association approved by the State Department of Managed Health Care and assign
said deposit to the State Department of Managed Health Care in satisfaction of
requirements imposed upon Contra Costa Health Flan by Title 2$, Section 1300.76.1.
Authorize the County Treasurer to, from time-to-time, deposit with a bank or
savings and loan; association approved by the State Department of Managed Health Care,
the amount of funds determined by the Director of the Health Services Department or his
designee, necessary to satisfy the requirements imposed upon Contra Costa Health Plan by
Section 1377 of the Health and Safety Code.
FINANCIAL IMPACT
The Health Plan will lose use of these funds to pay operating expenses (cash flow impact
only). Interest earned on the deposit will continue to accrue to the Health Plan.
BACKGROUND:
The Board has previously approved the deposits described in this Board Order. The current action is
based on a recommendation made by State financial reviewers. It changes the name of the State
agency to which the deposit is assigned from the State Department of Corporations to the State
Department of Managed Health Care which is now responsible for regulating managed care plans in
California.
CONTINUED ON ATTACHMENT YES SIGNAT ¢ E J
`''RECOMMENDATION OF COUNTY ADMINISTRATOR RECOMMENDATION OF BOARD COMMITTEE
APPROVE OTHER
SIGNATURES):
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ACTION OF 80 N ts' s i 3 r i` APPROVE AS RECOMMENDED < -- OTHER "__________ ___
VOTE OF SUPERVISORS I HEREBY CERTIFY THAT THIS IS A TRUE
' AND CORRECT COPY OF AN ACTION TAKEN
UNANIMOUS(ABSENT '/ r %''r`
<. a } AND ENTERED ON THE MINUTES OF THE
x' BOARD OF SUPERVISORS ON THE DATE
AYES: NOES: SHOWN.
ABSENT: ABSTAIN:
en
CONTACT: ATl'ESTED
JOH;; wEETEN,CLERK QF THE
BOAtD OF SUPERVISORS'AND
CC: County Treasurer COUNTY ADMINISTRATOR
Milt Camhi,Contra Costa Health Pian
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BY DEPUTY