HomeMy WebLinkAbout24F348 - Palm Springs Historical SocietyDate: November 25, 2024
CALIFORNIA WORKERS' COMPENSATION INSURANCE
EAP POLICYHOLDER DIVIDEND STATEMENT
1930'S GENERAL STORE MUSEUM
3200 E TAHQUITZ CANYON WAY
PALM SPRINGS, CA 92262
Pol Effective Date 05/24/2023
Policy # 1828505-23
Brokerage N/A
Policy Term 05/24/2023 - 05/24/2024
RECEIVED
UEC 0 2 2024
OFFICE OF THE CITY CLERK
We recently announced the 2023 Policy Year EAP dividend of 10% that is calculated based upon the Estimated
Annual Premium (EAP) for your policy. This dividend reflects the continuing significant progress we're making toward
a more efficient and fairly priced State Fund. Our Board of Directors determined that there existed surplus in excess
of that required to cover our liabilities, contingencies, and reserves for future operational needs (divisible surplus).
Eligibility for a 2023 Policy Year EAP dividend requires that the policyholder shall meet all of the following criteria:
Have a policy that took effect January 1, 2023 through December 31, 2023
YES
2023 policy has expired
YES
2023 policy was final billed
YES
2023 policy was paid in full within 90 days of final bill issuance
NO
2023 policy was not cancelled for cause
YES
The eligibility requirements above are based on the Resolutions Declaring a Dividend for the 2023 Policy Year
as approved by the State Compensation Insurance Fund Board of Directors. Based on the criteria above, you do
not qualify for a dividend.
We appreciate the opportunity to serve your workers' compensation insurance needs.
Sincerely,
State Compensation Insurance Fund
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Date: November 25. 2024
CALIFORNIA WORKERS' COMPENSATION INSURANCE
EAP POLICYHOLDER DIVIDEND STATEMENT
*California Code of Regulations {Title 10 CCR 2503 (b))
Disclaimer statement: Under California Law it is unlawful for an insurer [us] to promise the future
payment of dividends under an unexpired workers' compensation policy or to misrepresent the
conditions for dividend payment. Dividends are payable only pursuant to conditions determined by
the [our] Board of Directors or other governing board [of the Company] following policy expiration.
Forfeiture of a right to, reduction in the amount of, or delay in the payment of a policyholder's
dividend due to the policyholder's failure to accept renewal of the policy or subsequent policies
issued by the same insurer is illegal and constitutes an unfair practice.
The calculation is based on the Resolutions Declaring a Dividend as approved by the State
Compensation Insurance Fund Board of Directors for policies whose term of coverage began
during the period of January 1, 2023 to December 31, 2023.
Losses, Loss Conversion Factor and Retention were not factors used in the calculation of this
dividend; there is a single calculation of this dividend; the dividend calculation shall be performed
18 months from the inception date of the policy; there is no minimum Estimated Annual Premium
threshold for dividend eligibility; and no minimum calculated dividend payment.
Estimated Annual Premium (EAP) is that premium, based upon information supplied by the
policyholder or their broker at the time of policy inception, which will be earned during the policy
period. No dividend shall be paid on any premium owed or paid as a result of an audit. Surcharges
or assessments were not included in the premium for dividend purposes.
For any questions, please call (888) 782-8338.
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CONTRACT ABSTRACT
Contract/Amendment
Name of Contract:
Company Name:
Company Contact:
Email:
Summary of Services:
Contract Price:
Contract Term:
Public Integrity/ Business
Disclosure Forms:
Contract Administration
Lead Department:
Contract Administrator/ Ext:
Contract Approvals
Council/City Manager Approval Date:
Agreement Number:
Amendment Number:
Contract Compliance
Exhibits:
Insurance:
:
Bonds:
Business License:
Sole Source Co-Op
CoOp Agmt #:Sole Source
Documents: CoOp Name:
CoOp Pricing:
By:Submitted on:
Contract Abstract Form Rev
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Presidemt
Tracy Conrad
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CITY COUNCIL STAFF REPORT
DATE: JULY 25, 2024 CONSENT CALENDAR
SUBJECT: APPROVE AGREEMENT BETWEEN THE CITY OF PALM SPRINGS AND
THE PALM SPRINGS HISTORICAL SOCIETY FOR DISBURSEMENT
AND USE OF FUNDS TO OPERATE THE 1930’S GENERAL STORE
MUSEUM
FROM: Scott C. Stiles, City Manager
BY: Department of Finance and Treasury
SUMMARY:
The 1930’s General Store Museum was originally assumed by the City in 2003 with a gift
of the contents and cash ($75,000) for the City to conduct store operations. This donation
was received from Jim Ruddy and family. The General Store is housed in a City owned
and maintained building located within the Village Green and was shut down during the
COVID-19 pandemic and has never reopened. The Palm Springs Historical Society has
agreed to open and operate the store.
RECOMMENDATION:
1. Approve Disbursement and Use of Funds Agreement (Attachment A) between
the City of Palm Springs and the Palm Springs Historical Society to operate the
1930’s General Store Museum.
BACKGROUND:
The 1930’s General Store Museum was operable prior to the COVID-19 pandemic. The
Store contained items that were typically sold in a general store in the 1930’s and was
open Thursday-Sunday from 10:00 a.m. to 4:00 p.m. There was a $1 admission fee to
tour the store and view the contents. Through the revenues generated and the donation
of cash by the Ruddy family, there remains approximately $79,000 in a separate bank
account maintained by the City.
The General Store is a 501(c)(3) nonprofit corporation which was administered by a
contracted independent third party who performed all of administrative work for $200 per
month. The City is currently working with the City Attorney’s office, Best Best & Krieger
LLP (BBK, Law) to dissolve the nonprofit corporation and transfer the operations to the
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City Council Staff Report
July 25, 2024-- Page 2
Disbursement and Use of Funds Agreement – Historical Society
Palm Springs Historical Society. Also confirmed by BBK, the Historical Society is a 501
(c)(3) nonprofit public benefit corporation and operating the General Store would fall
within the exempt purposes of the entity and they can receive funds that are restricted for
a specific use. The agreement (Attachment A) restricts the funds to the operation of the
General Store Museum.
ALIGNMENT WITH STRATEGIC PLANNING:
This action aligns with the Strategic Plan 2A – Improve City Facilities, prioritize deferred
maintenance. The General Store Museum resides in a City owned and maintained facility
in the Village Green that has been closed since the COVID-19 pandemic.
FISCAL IMPACT:
The agreement would send approximately $79,000 to the Palm Springs Historical Society
to help with re-opening the store and its operations.
REVIEWED BY:
Department Director: Kristopher J. Mooney
Assistant City Manager: Teresa Gallavan
City Manager: Scott Stiles
ATTACHMENTS:
A. Disbursement and Use of Funds Agreement – Historical Society
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ATTACHMENT A
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