Sec. 128.305. - Annual funding and budgeting.

(a) Annually, the Risk Manager shall determine the Annual Funding Amount for each Participant for the ensuing fiscal year, using sound accounting and actuarial principles, based upon the formula described below: (1) Projected Claim Costs plus Administrative Expenses; (2) Less projected interest income to be subtracted from (1) above; (3) Less projected miscellaneous income to be subtracted from (1) above; (4) Less projected Participant Recoveries, as defined in Section 128.502 , to be subtracted from (1) above; and (5) Plus the Participant's requirement to fund the Self-Insurance Operating Reserve as described in Section 128.312 . (b) The Division shall further subdivide all expenses and revenues related to the Self-Insurance Program into Workers' Compensation Component and Liability Component utilizing a methodology to be approved by the Risk Manager, which shall be based upon the historic analysis between workers' compensation and liability claims and expenses in the Self-Insurance Program. (c) Each Participant shall be responsible for budgeting and paying for its Annual Funding Amount for each fiscal year in 1/12th increments on a monthly basis. (Ord. 2018-380-E , § 2)