From
Lisa Norris, Human Resources Director
Title
Quarterly Risk Fund Review - Lisa Norris, Human Resources Director
Presenter
Lisa Norris, Human Resources Director
Recommended Action
Review
Analysis
Risk Fund (Attachment, page 1): The Risk fund ran over budget this year and will be modified at the November 20, 2018 Council meeting once year-end closes. Currently, it is over by $42,066 as shown in the green column, row 46, but may change slightly following year-end close. Revenues were higher than expected at $3,678,008 from the budgeted $3,483,261. This change is primarily due to greater than expected subrogation amounts received for property (column 3, row 7, and from greater insurance recoveries for auto (row 9).
On the expense side, we expended about $341,000 more than expected - primarily resulting from expenses in prior liability losses (row 26) and property premiums (row 27).
Workers Compensation (Attachment pages 2-4): Overall, our number of occurances (slide 2) are down from last fiscal year from 211 to 189, but the average cost per claim has more than doubled. We are seeing an influx of claims hitting Emergency Rooms instead of treatment at Concentra, our occupational treatment facility. While some emergencies are occuring after hours, we still see some during work hours going to Emergency Room, which quadruples the costs. We are requesting reports through TML and will begin greater focus on educating and reminding supervisors to utilize Concentra when treatment is appropriate and only use the Emergency Room after hours for care or when the injury warrants such. Even with our jump in costs by 86% (slide 3), our claims are still quite low for an agency our size, according to our consultants. However, we will continue to work hard on education and keeping those costs low so that our dollars can shifted from injury treatment to other more beneficial city services, personnel or programs.
Liability and Property (Attachment pages 5...
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