From
Lisa Norris, Human Resources Director
Title
Quarterly Risk Fund Review
Presenter
Ashley Land, Human Resources Manager
Recommended Action
Review
Analysis
Risk Fund (Attachment, page 1): As the first quarter of the 2017-2018 fiscal year is beneath our belts, things are looking positive overall. Don't worry about the -$423,745 operating imbalance shown (column 3, row 47) as we pay the full premiums for the year upfront in October to get a 3% discount. Premiums paid are reflected in the Green column (3) on rows 25, 28, and 30. I have added a projection as well, but as you know projections are difficult as expenses are based on events and losses, most often caused by mother nature. As we approach storm season in the spring, losses increase, but so do our recoveries from a revenue standpoint.
Workers Compensation (Attachment pages 2-4): As seen on slide 2, the total number of workers compensation occurances is nearly identical from last year to this year for the first quarter, but severity has increased this fiscal year from $1,731 to $2,145 per claim. The same can be seen on Slide 3 "WC Fiscal Year Cumulative Comparision" which shows paid costs are up as well from $12,583 last year to $33,191 this year in the first quarter. This is primarily from 2 separate surgeries that were needed from injuries received as well as an increase in Emergency Room visits. Slide 4 reinforces that information. However, we are still amazing in total dollars spent on an agency our size, considering all of the risk we face in jobs such as utilities, streets, police and fire.
Liability and Property (Attachment pages 5-6): Liability and Auto-Property number of claims filed in the first quarter of 2018 are up from last year at 23 and 110 for Liability and Auto/Property claims respectively, but our costs for those same claims are down. Last year we spent nearly $127,000 in first quarter on 117 claims, but only spent $88,000 for 133 claims this year for the same p...
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