There is hereby created in the treasury of the city a fund to be known as the workers' compensation self-insurance fund.
(Ord. 1747 § 1, 2002)
Expenditures from the workers' compensation self-insurance fund shall be limited to the payment of present and future workers' compensation claims and costs associated with such claims. Such costs may include, but are not limited to, claims administration costs, safety programs, disability prevention programs, claims investigation fees, legal defense costs, injury prevention programs and other risk management fees related to workers' compensation claims or the prevention thereof.
Expenses arising from experience based surcharges for workers' compensation claims shall be payable from the workers' compensation self-insurance fund.
(Ord. 1747 § 1, 2002)
The workers' compensation self-insurance fund shall charge annual insurance premiums to the city's various operating funds that average the past year's experience of workers' compensation claims incurred in the self-insurance fund. Alternatively, such premiums may be charged based on the experience rating of the various job categories in the city.
Rebates accruing to the city from favorable experience in workers' compensation claims shall be credited as revenue to the workers' compensation self-insurance fund.
(Ord. 1747 § 3, 2002)
The city manager or a designated representative thereof shall cause an actuarial study of the workers' compensation self-insurance fund to be performed every two years to quantify the city's potential liability for claims incurred but not reported.
(Ord. 1747 § 4, 2002)