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City Council |
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Agenda Request |
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Agenda Of: |
DECEMBER 19, 2006 |
Agenda Request No: |
rec II |
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Initiated By: |
Norma Risk Coordinator |
Responsible Department: |
Administrative Services |
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Presented By: |
Norma Risk Coordinator |
Department Head: |
Cindy Stanfield, Administrative Services Director |
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Additional Department. Head (s): |
N/A |
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Subject / Proceeding: |
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Exhibits: |
Letter from TML-IRP, Copy of Check, and Table of City’s Equity Return
History |
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Clearances |
Approval |
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Legal: |
N/A |
Executive Director: |
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Purchasing: |
N/A |
Asst. City Manager: |
David Ellison |
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Budget: |
N/A |
City Manager: |
Allen Bogard |
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Budget |
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Expenditure Required: $ |
N/A |
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Amount Budgeted/Reallocation: $ |
N/A |
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Additional Appropriation: $ |
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Recommended Action |
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Mr. Lawrence Burnside of Texas Municipal League Intergovernmental Risk Pool will present check to the City in the amount of $45,390. |
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Executive Summary |
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On August 25, 2006, Texas Municipal League Intergovernmental Risk Pool announced Equity Returns would be issued in November 2006 to members of the Liability Fund based on successful loss prevention efforts and length of membership. Equity Returns are a direct result of Fund Members working hard to keep their losses down. The percentage of Equity Return is based on loss ratio and length of membership in the fund. The Equity Return is being afforded to Fund Members that have Liability loss ratios less than 100 percent since joining the Pool or for the last five years, whichever loss ratio is lower, and that have participated in the Liability Fund for three successive, complete years as of September 30, 2006. The City’s Return includes additional longevity credit for participating in the Fund for at least five years. The greatest Equity Return that TML-IRP is reimbursing is 17 percent. The City’s loss prevention efforts and length of membership rank in the 17 percent category of Equity Returns. As a result, I am pleased to announce the City has received an Equity Return in the amount of $45,390 from TML-IRP. |
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Exhibits |
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City
of |
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TML-IRP Equity
Returns & Good Experience Credits History |
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Fund Year |
Fund |
Amount |
Description |
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1993/94 |
Liability |
$4,870.50 |
Equity
Return - 10% of General Liability contributions |
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1994/95 |
Work Comp |
9,706.00 |
Equity
Return - 5% of Workers' Comp contributions |
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1995/96 |
Work Comp |
13,255.30 |
Equity
Return - up to 10% of Workers' Comp |
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1996/97 |
Work Comp |
30,118.20 |
Equity
Return - 15% of Workers' Comp contributions |
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1997/98 |
Work Comp |
10,039.40 |
Equity
Return - up to 5% of Workers' Comp contributions |
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1997/98 |
Liability |
23,965.70 |
Equity
Return - up to 10% of Liability contributions |
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1998/99 |
Work Comp |
4,675.00 |
Pool Good
Experience Credit - 5% of Workers' Comp contributions |
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1998/99 |
Liability |
21,636.00 |
Pool Good
Experience Credit - 10% of Liability contributions |
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2003/04 |
Liability |
34,413.00 |
Equity
Return - up to 15% of Liability contributions |
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2004/05 |
Liability |
36,361.00 |
Equity
Return - up to 15% of Liability contributions |
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2004/05 |
Property |
43,326.00 |
Equity
Return - up to 20% Property contributions (credit issued during 2005/06) |
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2005/06 |
Liability |
45,390.00 |
Equity
Return - up to 15% of Liability contributions |
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Total |
$277,756.10 |
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