HomeMy WebLinkAbout11/1/2006 - STAFF REPORTS - 2.M.i� pALM
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Citv Council Staff Report
DATE: November 1, 2006 (Consent Agenda)
SUBJECT: EXCESS WORKERS' COMPENSATION INSURANCE. RENEWAL FOR
FISCAL YEAR 2005/06
FROM: David H. Ready, City Manager
BY: Human Resources
SUMMARY
Staff is requesting Council approval to pay the supplemental premium on the excess
workers' compensation coverage for fiscal year 2005-06 due to the final payroll
numbers submitted to the excess insurance carrier.
RECOMMENDATION:
Adopt Minute Order No. authorizing "THE PAYMENT OF THE SUPPLEMENTAL
PREMIUM FOR THE CITY OF PALM SPRINGS' EXCESS WORKERS
COMPENSATION INSURANCE FOR FISCAL YEAR 2005/2006."
STAFF ANALYSIS:
On June 1, 2005, Council approved the purchase of excess workers' compensation
coverage for fiscal year 2005-06 with a $2,000,000 self -insured retention (SIR) for
police and fire personnel, and a $1,000,000 self insured retention (SIR) for all other
personnel.
The premium for this coverage is based on actual payroll numbers. Because the final
numbers are not available until after the close of the fiscal year, we paid an initial
premium which was based on estimated payroll figures for 2005-06. This supplemental
premium covers the additional payroll as reported to the excess carrier at the end of
fiscal year 2005-06.
Item No. 2. A
City Council Staff Report
November 1, 2006--Page 2
Resolution — Payment of Supplemental Premium
FISCAL IMPACT:
The funds necessary to pay this supplemental premium are available in the current
year's budget (Risk Management fund).
Of
Susan E. Mills, Dirbc�of Hum n Resources David H. Ready, City
Attachments: Davis & Graeber Invoice #167107 for $41,688
Minute Order
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City of Palm Springs
Attn:Troy Butzlaff
P,O, Box 2743
Palm Springs, CA 92263
Client: City of Palm
City of Palm Springs
2839
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(909)793-2373
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Thank You
PLEASE DETACH AND RETURN WITH PAYMENT
Policy #3757697 07/01/2005-07/01/2006
Partners Specialty Ins Svcs
167107 07/01/2006 Premium audit Workers Compensation - Final Audit 41,688.00
Davis & Graeber Insurance Services, Inc,
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PAYMENT DUE
UPON RECEIPT
MINUTE ORDER NO.
APPROVING THE PAYMENT OF THE
SUPPLEMENTAL PREMIUM FOR THE CITY OF
PALM SPRINGS' EXCESS WORKERS'
COMPENSATION INSURANCE FOR FISCAL YEAR
2005/2006.
I, James Thompson, City Clerk of the City of Palm Springs, hereby certify that
this Minute Order approving the payment of the supplemental premium for the
City of Palm Springs' Excess Workers' Compensation Insurance for fiscal year
2005/2006, in an amount not to exceed $41,688.00, was adopted by the City
Council of the City of Palm Springs, California, in a meeting thereof held on the
1st day of November, 2006.
James Thompson, City Clerk