HomeMy WebLinkAboutMO # 1241544
MUNICIPAL ORDER 1241
A MUNICIPAL ORDER AUTHORIZING AND DIRECTING THE
FINANCE DIRECTOR TO SET UP A WORKERS' COMPENSATION PROJECT
(RM000I) AND DIRECTING THE FINANCE DIRECTOR AND RISK MANAGER
TO DEVELOP AN ADMINSTRATIVE PROCEDURE ASSOCIATED WITH THE
MANAGEMENT OF SUCH
WHEREAS, the City of Paducah switched to a $5,000 deductible workers'
compensation insurance plan and as a result achieved a savings of $62,768 in FY2007,
and;
WHEREAS, we need to establish a process to fund the first dollar
deductibles for workers' compensation claims and to provide a means where the Finance
Director can pay first dollar deductibles.
BE IT ORDERED BY THE CITY OF PADUCAH, KENTUCKY:
SECTION 1. That the City of Paducah hereby authorizes and directs the
Finance Director and Risk Manager to develop a procedure to fund Workers'
Compensation Claims within the deductible amount by doing the following:
a) Set up an accounting project (RM0001) to capture all manner of
financial transactions associated with the payment of Workers'
Compensation Insurance deductible payments on the first dollars
of the claim up to the deductible amount.
b) In FY2007, set aside $62,768 rebate received from KLC in the
City's Insurance Fund/Project RM0001 to cover Workers'
Compensation Insurance deductibles incurred for claims during
fiscal year 2007.
C) Beginning in FY2008 and subsequent years during the annual
budget process deductible funding shall be estimated to ensure
adequate funding for Workers' Compensation Claims within the
deductible amount.
SECTION 2. This order shall be in full force and effect from and after the
date of its adoption.
ATTEST:
xr. 4-44mk
Tammara S. Brock, City Clerk
Adopted by the Board of Commissioners November 14, 2006
Recorded by Tammara S. Brock, City Clerk, November 14, 2006
\mo\workers comp deduct