HomeMy WebLinkAbout83-111WHEREAS, the Self-Insurance Liabtlity Fund was estab]~ished by Resolution
No. 79-78 of the County of Butte, adopted P1ay 8, 1979, as a reserve for settlement
of pub1ic 1iability claims and contained funds in the amount of $559,243.14 on
July 1, 1979; and
WHEREAS, an Actuarial Evaluatior~ of Liability, Self-Insurance Program by
Warren, McVeigh & Grifffn, Inc. was completed in October, 19$1 and recommended a
Net Reserve at Ju1y i,:198I of $2,118,000; and
WHEREAS, a projection using the same actuarial criteria recommends a
reserve at July l, 1982 of $2,969,000.
WHEREAS, the Workers' Compensation Reserve Fund was established by
Resolution No. 79-149,07` the County of Butte, adopted July 24, 1979, for the purpose
of payment of workers' compensation insurance claims and contained funds in the
amoun~ of $23,636.68 on July 24, 1979; and
WHEREAS, an Actuarial Evaluation of Workers' Compensation Self-Insurance
Program by Warren, McVeigh & Griffin, Inc. was completed in July, 1981 and recommended
a funding level at June 30, 1981 of $1,105,417; and
WHEREAS, a projection using tl~e same actuarial cri~eria recommends a
funding level at Ju1y 1, 1982 of $2,009,4i1; and
WHEREAS, the l~nemp7oyment Compensation Insurance Ciaims-Payment Fund was
established by Reso7ution No. 81-165 of the County of Butte, adopted July 21, 1981,
for the purpose of payment of unemployment compensation insurance claims and contained
funds ~n the amount of $345,595.18 on July 30, 1981; and
~JHEREAS, history of losses and p~rojected revenues made by staff indicates
a reserve requirement at June 30, 1982 of $56fl,000; and
t~lNEREAS, the County of Butte now wishes to affirm that monies in a11 three
of the above-1isted funds are reasonably required and may be only used for the
purposes so specified;
NOW, THEREFORE, the County of Butte hereby finds, determines, declares
and resolves as follovrs:
RESOLUTION RFFIRP~IIPJG TFEAT h10NIES TN THE: SELF-INSURANCE
. LIABILITY FUND, THE UNEMPLOYt~iENT COP1PEIdSATION INSURANCE
C~AIMS-PAYMENT FU~ID AND THE ~~fORKERS' COMPENSATION
RESERVE FUUD ARE AVAILABLE ONLY FOR DESIGNATEd PUP.POSES
AND ARE REASONABLY REQUIRED FOR SUCH PURPOSES
Section l. All of the recitals herein set forth are true and correct,
and the County so f~nds and determines.
Section 2. The monies in the Self-Insurance Fund, in the amount of
$2,075,302.07, as of P4ay 31, 1983, shail be available only for the purpose of
paying public l~abili~y claims against the County and are reasonab]y required for
such purpose.
Sec~ion 3. The monies in the Workers' Compensation Reserve Fund, in the
amount of $1,586,195.58, as of May 31, 1983, shall be avai7able only for the purpose
of paying workers' compensation claims against the County and are reasonably required
for such purpose.
Section 4. The monies in the ~nemployment Compensation Insurance Claims-
Paymen~ Fund, in ~he amount of ~423,988.59, as of P~ay 31, 1983, shall be available
only for the purpose of paying unemployment compensation insurance claims against
the County and are reasonably required for such purpose.
PASSED A~D ADDOPTED by the Butte County'Board of Supervisoes this 21st
day of June , 1983 by the following vote:
AYES: Superuisors ~ulton, Moseley, Saraceni and Chair polan
NOES: None
ABSENT: Supervisor Wheeler
NOT VOTING: None
~
NE DOLAN, Cha~r of the
Butt County Board of Supervisors
ATTEST:
ELE M. BECKER, County Clerk and
ex- f icio Clerk of the Board