Laserfiche WebLink
ICRMA JPA Renewal / Broker Agreement / Associated Premiums and Costs <br />August 1, 2023 <br />Page 4 <br />Workers Compensation <br />General Liability <br />Actuarial Valuation as of <br />June 30, 2023 <br />$44,631,000 <br />$26,456,000 <br />Estimated fund balance as <br />of June 30, 2023 <br />$16,739,939 <br />$14,190,056 <br />Estimated Shortfall <br />$27,891,061 <br />$12,265,944 <br />After appropriation adjustment, the following table summarizes the funds budgeted and <br />available for estimated premium and administrative costs. <br />Fiscal <br />Accounting Unit <br />Fund <br />Accounting Unit — <br />Year <br />— Account No <br />Description <br />Account No. <br />Amount <br />Description <br />Workers <br />Workers <br />$ 1,300,000 <br />2023-24 <br />08209054-64010 <br />Compensation <br />Compensation, <br />Insurance Payment <br />Liability & <br />Liability & Property <br />$ 9,036,300 <br />2023-24 <br />08009051-64010 <br />Property <br />Insurance, Insurance <br />Insurance <br />Payment <br />APPROPRIATION ADJUSTMENT <br />2023-24 <br />08009051-64010 <br />Liability & <br />Liability & Property <br />$ 1,300,000 <br />Property <br />Insurance, Insurance <br />Insurance <br />Payment <br />Total: <br />$ 11,636,300 <br />EXHIBIT(S) <br />1. Agreement with Arthur J. Gallagher Insurance Brokers of California, Inc. For <br />Insurance Broker Services, Client Service Agreement <br />Submitted By: Jason Motsick, Executive Director Human Resources <br />Approved By: Kristine Ridge, City Manager <br />City Council 18 — 4 8/1/2023 <br />