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Spokane County to consider 49% increase in liability charges after actuary flags shortfall
Summary
Actuary analysis showed the county's liability fund is below recommended reserves; staff and the actuary recommended raising charges to departments to restore a healthier reserve position and reduce future volatility.
Spokane County staff on June 2 told the Board of County Commissioners that the county’s liability/risk reserve is below the level recommended by the actuary and recommended increasing department charges to the risk pool by 49% to move reserves nearer the actuary’s target range.
What staff reported: The county’s actuary presented a range of reserve targets tied to expected loss distributions (the meeting materials described a “1‑in‑20” event benchmark). Staff said the current reserves are on a downward trajectory and that a 49% increase in liability allocations across funds would reverse…
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