FY 23 Approved Budget Book

SELF INSURANCE FUND FISCAL YEAR 2023

Self Insurance Fund Statement of Estimated Net Position

Purpose

The Self-Insurance Fund was established in 1982 as an Internal Service Fund. This fund accounts for budgeted monies from operating funds for a percentage of self-insurance contributions. The fund also receives reimbursement from other parties for claims paid. Excess insurance premiums, claims and other expenses are paid from this fund. An actuarial study was completed for June 2019 which covers the general liability, automotive liability, property damage, and workers' compensation exposures.

Total Net Position as of June 30, 2021

20,722,487

Investment Income Insurance Recoveries

25,000 200,000

Revenues from Agencies and Reimbursements

34,868,666

Total Estimated Revenues

35,093,666

Expenses for Claims, Excess Coverages, Claims Management and Other Expenditures

(35,093,666)

Total Estimated Expenditures

(35,093,666)

Estimated Net Position - June 30, 2022

20,722,487

Fiscal Year 2022-2023

Investment Income Insurance Recoveries

6,000

180,000

Revenues from Agencies and Reimbursements

37,596,917

Total Estimated Revenues

37,782,917

Claims and Expenditures

(37,782,917)

Total Estimated Expenditures

(37,782,917)

Estimated Net Position June 30, 2023

20,722,487

845