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Actuarial Report Comparison
June 30, 2024
June 30, 2025
Change from
Prior Year
Estimated Unpaid Losses & ALAE
11,708,406
11,349,763
(358,643)
Projected Ultimate Losses & ALAE
3,042,000
3,012,000
(30,000)
14,750,406
14,361,763
(388,643)
-2.6%
Audit Report Comparison
June 30, 2024
June 30, 2025
Change from
Prior Year
Net Position
8,988,861
11,418,071
2,429,210
IBNR & Case Reserves
11,708,406
11,349,763
(358,643)
Net Position with IBNR Funded
20,697,267
22,767,834
2,070,567
10.0%
Amount over (under)
5,946,861
8,406,071
Reserve Analysis
Actual FY
23/24
Actual FY
24/25
Estimate FY
25/26
Proposed FY
26/27
Beginning Fund Balance
18,258,014
20,886,041
22,689,242
24,803,172
Revenues
Contribution to Fund/Int Income
5,952,016
6,339,848
6,213,580
5,434,300
Transfer In from Utilites for Safety Pos.
68,017
72,888
76,854
80,697
Transfer In from General Fund
-
-
-
-
*Transfer In for Muni FF Cancer Reimb Fd
-
-
-
-
Total Revenues
6,020,033
6,412,736
6,290,434
5,514,997
Expenditures
Operating Expenditures
(1,985,318)
(2,187,348)
(2,176,504)
(2,387,523)
Claim Expenditures
(1,406,688)
(2,422,186)
(2,000,000)
(3,000,000)
Total Expenditures
(3,392,005)
(4,609,534)
(4,176,504)
(5,387,523)
Ending Fund Balance
20,886,041
22,689,242
24,803,172
24,930,646
Actuarially Calculated "Nominal/Central Level" (6/30/25 report)
14,361,763
Projected Fund Balance for FY 2026-27 over Nominal/Central Level
10,568,883
* Municipal Firefighter Cancer Reimbursment embedded in the Contribution beginning FY 2023-24
FY 2025-26
FY 2026-27
Change in
Contribution
No change to ongoing contribution
5,060,100
4,611,300
(448,800)
Recommendation of Change in City Contribution
to Trust for FY 2026-27
Workers' Compensation and Employer Liability Trust
Contribution and Reserve Analysis for FY 2026-27
Nominal/Central Value
Net Position