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): The Risk fund continues to run fairly well, but we are in storm season so we will remain cautiously optimistic. Revenues are doing well, especially with the work from our City Attorney's office and staff who have collected over $83,000 in subrogation efforts so far this year, surpassing the budgeted amount of $40,000. Additionally, if you refer to the property projection (column 4, row 10), we project $1.1 million in reimbursement by year-end. That is due to the final TML reimbursement being received in late April of $834,730 for property losses from the 2015 flood damage - thereby closing out that claim.
On the expense side, column 4, row 28, our property premiums are expected to hit about $800,000. This is due to absorption of both Epic/Epic Waters which are large buildings, along with other miscellaneous property remodels and adjustments occuring this year which are also impacted by greater property premium costs due to all of the losses (flooding, hail, wind damage) across Texas in the past year primarily caused by storms such as Hurricane Harvey. Overall, row 46, column 4 reflects a positive operating balance, primarily due to the large reimbursement check received from TML that will reflect in April.
Workers Compensation (Attachment pages 2-4): Overall, our total workers compensation number of occurences and costs per claim are up as compared to last year (slide 2). This increase impacts our costs overall as well, showing total paid and incurred costs higher than this time last year as well. Although the increase looks dramatic, we are still amazingly low with a city our size, our at risk groups for injury - Public Works, Police and Fire, as well as our employee size. We will continue to hit education of our large departments as this increase i...
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