HomeMy WebLinkAboutResolutions - 1987.10.08 - 18066VE TUr L'7").01GOING nuoal
1 MISCELLANEOUS RE,FO,LUTION 87247 OCTOBER 8, 987
BY: FIN'ANICE'COITTEE, DR. G. WILLIAM CADDELL, CHAIRPERSON
IN RE: RISK MANAGEMENT - 1987 BUDGET FOR THE COUNTY INSURANCE FUND
TO THE OAKLAND COUNTY BOARD OF COMMISSIONERS
Mr. Chairperson, Ladies and Gentlemen:
WHEREAS Miscellaneous Resolution #85369 authorized the establishment of a
separate fund for the insurance program; and
WHEREAS appropriations for the County Building and Liability Insurance Fund
contributions were approved in the 1987 Adopted Budget and were appropriated by
department/division; and
WHEREAS a determination has been made relating to the amounts required to
establish a budget for the 1987 Insurance Fund; and
WHEREAS the Finance Committee reviewed and approved the 1987 Gallagher
Bassett contract; and
WHEREAS the nature of the insurance fund allows for the markup of insurance
costs to cover insurance and risk management overhead; and
WHEREAS in 1988, and future veers, related Salaries, Fringe Benefits and
Operating will he charged to the Insurance Fund; and
WHEREAS at some time, funding in the Insurance Fund may be insufficient to
cover administrative overhead and funding by the General Fund will be
necessary; and
WHEREAS all insurance obtained on behalf of Oakland County is recommended
to be reviewed and approved by Risk Management and charged to the Insurance
Fund; and
NOW THEREFORE BE IT RESOLVED that the 1987 Budget be amended to add. the
Insurance Fund as detailed on the attached schedule.
BE IT FURTHER RESOLVED that the Insurance Fund is authorized to pay the
1987 contract between Oakland County and Gallagher Bassett as recommended.
RE IT FURTHER RESOLVED if at any time, funding from the Insurance Fund is
insufficient to cover administrative costs, then said costs will be covered
by the general fund.
BE IT FURTHER 'RESOLVED that all insurance obtained on behalf of Oakland
County first be approved by Risk Management.
Mr. Chairperson, on behalf of the Finance Committee, I move the adoption of
the foregoing resolution.
FINANCE COMMITTEE
Oakland County, Michigan
1987 Budget
Insurance Fund
1987
Budget
REVENUE
Liability $1,800,000
TOTAL REVENUES $1,800,000
DTENDITURES
Administrative Fees
Claims Paid
Claims Reserves
Claims Incurred but not reported
Operating Transfer Out-General Fund
TOTAL EXPENDITURES
EXCESS REVENUES OVER/ (UNDER) EXPENDITURES
198,000
60,000
30,000
1,449,821
62,179.
$1,800,000
$ -0-
Prepared by the Budget Division
September 21, 1987
October 19
In Testimony Whereof, I have hereunto set my hand and affixed
seal of said County at Pontiac, Michigan
ALLEN
Coun,ty Clerk/Register of Deeds
this 8 day of
#87247
October 8, 1987
Moved by Caddell supported by Law the resolution be adopted.
AYES: McConnell, A. McPherson, R. McPherson, Moffitt, Page, Pernick,
Price, Rewold, Skarritt, Wilcox, Aaron, Caddell, Crake, Doyon, Gosling, Hobart, Jensen,
R. Kuhn, S. Kuhn, Lanni, Law, Luxon. (22)
NAYS: None. (0)
A sufficient majority having voted therefor, the resolution was adopted.
STATE OF MICHIGAN)
COUNTY OF OAKLAND)
I, Lynn D. Allen, Clerk of the County of Oakland and having a seal
do hereby certify that I have compared the annexed copy of
this Miscellaneous Resolution adopted by the Oakland County Board of Commissioners
at their meeting held on October 8, 1987
with the orginial record thereof now remaining in my office,
that it is a true and correct transcript therefrom, and o
whole thereof.