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Council accepts actuarial report estimating $2.3M in reserves and $7.5M loss forecast
Summary
Select Actuarial Services presented the city's annual reserve analysis and loss forecast covering claims through June 30, 2025. Council accepted the report and staff will use the figures for budgeting.
Betsy Southworth of Select Actuarial Services presented the City of Moore's annual actuarial study at the Oct. 6 council meeting and summarized outstanding liabilities and a budget forecast for claims costs.
The report estimated total outstanding insurance reserves of about $2,300,000 for liabilities arising through June 30, 2025, and recommended a loss forecast (budget accrual) for the 2025-26 fiscal year of roughly $7,500,000. Southworth told the council health benefits make up the largest…
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