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ICRMA JPA Renewal / Broker Agreement / Associated Premiums and Costs <br />August 1, 2023 <br />Page 4 <br />3 <br />6 <br />3 <br />5 <br />Workers Compensation General Liability <br />Actuarial Valuation as of <br />June 30, 2023 <br />$44,631,000 $26,456,000 <br />Estimated fund balance as <br />of June 30, 2023 <br />$16,739,939 $14,190,056 <br />Estimated Shortfall $27,891,061 $12,265,944 <br />After appropriation adjustment, the following table summarizes the funds budgeted and <br />available for estimated premium and administrative costs. <br />Fiscal <br />Year <br />Accounting Unit <br />– Account No <br />Fund <br />Description <br />Accounting Unit – <br />Account No. <br />Description <br />Amount <br />2023-24 08209054-64010 <br />Workers <br />Compensation <br />Workers <br />Compensation, <br />Insurance Payment <br />$ 1,300,000 <br />2023-24 08009051-64010 <br />Liability & <br />Property <br />Insurance <br />Liability & Property <br />Insurance, Insurance <br />Payment <br />$ 9,036,300 <br />APPROPRIATION ADJUSTMENT <br />2023-24 08009051-64010 Liability & <br />Property <br />Insurance <br />Liability & Property <br />Insurance, Insurance <br />Payment <br />$ 1,300,000 <br />Total:$ 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