Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Budget Finance topic
No spam. Unsubscribe anytime.
Board approves risk management budget amendment to cover rising insurance costs
Summary
Supervisors approved a non‑general fund budget amendment for the county’s risk management fund to capture increases in general liability and property insurance and to allocate previously unrecorded worker compensation charges; staff explained the adjustment reflects actual costs and allocations from departments.
San Benito County supervisors approved a budget amendment to the county’s risk management fund to reflect higher insurance costs and to allocate worker compensation charges correctly.
A county fiscal manager explained the request: the risk management fund (Fund 306) needed an additional appropriation for general liability, property and related insurance items; one line item had been omitted during preparation and the requested amendment adds an estimated $411,000 allocation that will be transferred from departmental accounts to align charges with actuarial allocations. Staff told the board the fund serves as a pooled account for liability and property insurance and these increases reflect this year’s actual premium adjustments.
Supervisors asked about drivers of the increase and staff said several factors, including higher claims experience and market rate increases, contributed to the spike. After questions the board moved, seconded and approved the amendment on the consent calendar; staff noted final insurance invoices may be slightly different and any remaining changes will be handled through future budget adjustments.
Ending: The fund amendment was approved and staff will monitor final premium invoices and return with adjustments if needed.
