§ 10-180. Financing the Risk Management Fund.

Subject to appropriations contained in the approved annual budget, each member of the Risk Management Fund shall be required to pay into the Risk Management Fund a sum of money determined by the Risk Management Committee to be sufficient to provide for its contribution to the Risk Management Fund which will be computed by considering the premium cost, claim expense, operating expense, interest income, and the maintenance of reserve fund. The contribution shall reflect the principles of incurred claims accounting as indicated by periodic actuarial evaluations of the Risk Management Fund. Accrued interest shall be apportioned among and credited to the unencumbered reserve and encumbered reserve accounts of each member. The Director of Finance shall be responsible for investing the money of the Risk Management Fund in accounts and securities as allowed by law.

(CB-31-1983)

Editor's note

CR-67-1992 authorized the County to participate in the Self-Insurance Liability Funding Program sponsored by the Local Government Insurance Trust.