Upcoming Dates

2010/2011 Budget Hearing Meeting Dates

Notice is hereby given that Finance Chair, Daniel Davis will meet with the Finance Committee members in Council Chambers located at 117 W. Duval St., 1st Floor, St. James Building on the following dates to discuss the 2010-2011 Budget.

Thurs., 8/12/10 – 8:30 a.m.-4:30 p.m. (break from 12:00 p.m. to 1:00 p.m.)

Thurs., 8/19/10 – 8:30 a.m.-4:30 p.m. (break from 12:00 p.m. to 1:00 p.m.)

Thurs., 8/26/10 – 8:30 a.m.-4:30 p.m. (break from 12:00 p.m. to 1:00 p.m.)

The 2010 City Budget Workshops have concluded and the Final Report can be downloaded from the Resources page.

Risk Management Division

This 22-person division helps protect the city’s assets, including its workers, by managing insurance and employee safety programs. In particular, the division focuses on such areas as workers compensations, automobile insurance, general liability insurance and property coverage.

It offers risk mitigation assistance to departments to reduce the potential for losses in the focus areas noted above. These functions help reduce liability and minimize financial risks for the city and its stakeholders.

Budget:

In 2010, the budget for the Risk Management Division is $39,461,517.

To compare the city to a business/individual, the city retains a certain portion of event risk (similar to a deductible) for worker’s compensation, damage to city buildings and employee tort liability. The city’s outside insurance actuary projected fiscal year 2010 self insurance retention is $17.16 million and the budget also provides $8.25 million in reinsurance /insurance (risk transfer) premiums.

Click here to view a detailed breakdown of the Finance Department budget.

Did You Know?

The division expects to receive 2,200 new public liability claims in 2010, down from last year’s 2,800 claims. We expect 1,850 worker’s compensation claims, which is consistent with the prior year’s volume.