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Meeting Date:
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10/21/2021 - 6:00 PM
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Category:
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Action Items
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Type:
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Info
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Subject:
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11.4 Public Self Insurers Annual Report
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Strategic Plans:
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Enclosure
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File Attachment:
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Description:
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Member Districts are required to advise their governing board, before December 31, 2021, of the amount of total liabilities reported (Labor Code §3702.6(b)). This total undiscounted amount is $13,329,171 as of June 30, 2019. RESIG has sufficient funds to pay all of these outstanding liabilities. Member Districts are also required to report whether the funding of these liabilities is in compliance with GASB 10 standards; RESIG’s accountants have certified compliance.
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Background Information:
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RESIG is self-funded for workers’ compensation claims and retains the liability for all workers’ compensation claims for past years. RESIG is required to report to the Department of Industrial Relations (DIR) details of these claims annually.
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Fiscal Implications
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Recommendation:
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none- information only
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Approvals:
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Recommended By:
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Signed By:
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Matthew Morgan - Superintendent/Principal
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