To: Board of Supervisors
From: Human Resources
Agenda Section: Consent
Vote Requirement: 4/5th
SUBJECT:
title
Supplemental Budget for the Liability Budget Unit (3524-354) in the Amount of $1,047,289.90 (4/5 Vote Required)
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RECOMMENDATION(S):
Recommendation
That the Board of Supervisors:
1. Approve the attached supplemental budget to cover overdrafts in the Liability budget (3524-354) for FY 2023-24. (4/5 Vote Required)
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STRATEGIC PLAN:
This action supports the following areas of your Board's Strategic Plan.
Area of Focus: Workforce & Operational Excellence
Strategic Plan Category: 3001 - Support a well-trained workforce
DISCUSSION:
The Risk Management-Liability budget (3524-354) received unanticipated revenue from two sources, and this agenda item seeks to receive those funds and pay for unanticipated legal expenditures on several cases.
The first source of revenue is from Public Risk, Innovation, Solutions and Management (PRISM)[QS1] in the amount of $47,289.90 for a refund on [QS2]a claim above [QS3]the county's self-insured retention (SIR) level. PRISM is an insurance risk sharing pool through which the county purchases excess liability, primary and excess Workers' Compensation, as well as various other insurance programs. The second source of revenue is a reimbursement from the attorney Remy Moose in the amount of $2 million for settlement of costs incurred for expenditures related to a litigation[QS4] related to the Probation Correctional Facility Fire.
The attached supplemental budget reflects these additional unanticipated revenues utilized to cover overages[QS5] in the Liability budget for FY 2023-24. Current litigation costs as well as closing several outstanding cases has created a situation where the Liability Fund has an excess of expenditures above anticipated costs. Previously the ISF fund was able to utilize fund balance above budget appropriated funding. The new accounting regulations require we submit a req...
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