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Cowlitz County finance staff warn of looming insurance assessment increases; $300,000 transfer set aside for liability claims
Summary
Finance staff told the Cowlitz County commissioners that risk-pool assessments are expected to rise and described recent premium timing changes, transfers to cover liability claims and a planned budget amendment and public hearing May 20 to adjust the county’s financials.
At a Cowlitz County Board of Commissioners budget meeting, county finance staff said the county should expect higher risk-pool assessments and outlined recent premium payments, interfund transfers and upcoming budget amendments.
Susie Moon, finance manager, said the county’s risk-management fund has collected about $3,000,000 so far this year from internal service billings and about $4,300 in miscellaneous revenue. “At the beginning of every year, risk management will bill the various departments for insurance charges,” Moon said.
Moon and Finance Director Kathy Funk Baxter explained the county recently paid a full 12-month premium last October and will pay a short “stub” premium in April to move the insurer’s renewal cycle to a January–December year. “Yes. We've we've already paid for, the premium for 12 months,…
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