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BOOK 97 PAGE 46 7 Chairman Adams advised that she had taken the opportunity to visit some of the houses with Mr. Comenzo and Senator Patsy Kurth and that it was nice to see proactive use of these funds and the appreciation of the recipients. ON MOTION by Commissioner Eggert, SECONDED by Commissioner Bird, the Board unanimously approved funding in the amount of $2,377.20 to be used as a match for the Economic Opportunities Council weatherization grant program, as requested. Commissioner Eggert commented that the State Housing Initiatives Partnership Program funds have come to a temporary halt, because the State's documentary stamp income is down. She did not know when additional funding would be forthcoming. (CLERK'S NOTE: At approximately 10:15 a.m., Commissioner Macht temporarily left the meeting.) CONTINUATION OF CONTRACT VVrM COOPERS & LYBRAND ACTUARIAL SERVICES - SELF INSURANCE PROGRAM The Board reviewed a Memorandum of February 27, 1996: TO: James E. Chandler, County Administrator THRU: Donna Anderson, Acting Personnel Director&0 FROM: Beth Jordan, Risk Manage DATE: 27 February 1996 �1 ` SUBJECT: Actuarial Services Background: Since the adoption of a modified self-insurance program beginning with FY 88-89, the County has completed an actuarial study through Coopers & Lybrand Casualty Actuarial & Risk Management Consulting (Coopers). The actuarial study confirms the financial soundness of the self-funded porton of the program, and provides a valuable tool for the County's overall budget process. In summary, the annual actuarial study provides the County with the following information. It separately addresses general liability, automobile liability and workers' compensation self-insured coverages to project ultimate losses by fiscal year, accrued liability as of 12/31/95 including case reserves, late reported claim reserves and case development reserves; funding recommendations as of 12/31/95 and projected as of 09/30/96 for use in determining the appropriate balance in the various funds, giving consideration to excess insurance and Special Disability Trust Fund recoveries; prospective funding recommendations for FY 96-97; cash flow estimates of the claims payments of the program; funding allocation recommendations; determination of investment income credit for future investment income; determination of an appropriate margin for adverse development; and prospective expected loss rates. The study considers the protections afforded through Florida's sovereign immunity statute and the changes in Florida's workers' compensation statute. 43 March 5, 1996