From
Lisa Norris, Human Resources Director
Title
Quarterly Risk Fund Review
Presenter
Lisa Norris, Human Resources Director
Recommended Action
Review
Analysis
Risk Fund (Attachment, page 1): The Risk fund is off to a good start (Column 3) through December 2016. As a reminder, although it currently reflects an operating imbalance of $908,027 (column 3, row 47) that is because we pay all premiums in October for the year but have only received the chargebacks from departments (revenues) for 3 months of time reflected in rows 3 through 6. As expected, premiums for property (row 27) went up from $458,515 (column 1) in FY2015/2016 to $578,869 (column 3) this year due to all of flooding and weather related damage across the state over the past couple of years. Workers Compensation premiums increased as well (row 29), but not as significantly as property.
Liability and Property (Attachment pages 2-3):
Liability and Auto-Property costs and number of claims filed for the first quarter of fiscal year 2017 are down as compared to the same quarter in years 2016 and 2015 as shown in the top half of slide 2. Slide 5 demonstrates losses by departments for the current and prior year. Overall, fiscal year 2016 Liability and Property costs were also down as compared to the totals from 2015. .
Funds Recovered (Attachment, page 4):
In-House collections (yellow section) have come in at $25,259 so far this year in property, but no collections were made for mobile related equipment. Insurance reimbursements are also down to start the year.
Storm Repair Costs and Reimbursements Summary (page 5):
Our City Attorney's Office has provided the Storm cost summary to reflect current loss incidents being tracked and related recoveries from the 2015 and recent 2017 wind storm.
Workers Compensation (Attachment pages 6-8): Overall, our total workers compensation occurances/incidents have decreased, but the costs per claim have increased from $959 to $1,737 per claim as ref...
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