1996-04-22 Regular Meeting - Laserfiche WebLink

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REQIsT FOR CITY COUNCIL AGEND'ITEM Agenda Date Requested: April 22. 1996 Requested By: Robert T. Herrera Department: Administration x Report Resolution Ordinance Exhibits: SUMMARY & RECOMMENDATION The Texas Municipal League Workers' Compensation Fund ended 1994-95 in a strong financial position, with $148 million in assets and members' equity of more than $59 million. The Fund's strong performance in recent years can be attributed to two major factors, the 1991 workers' compensation reform and, reduced losses resulting from effective loss prevention measures instituted by the Fund's members. In response to these outstanding year end results, the TML Intergovernmental Risk Pool (IRP) Board of Directors has announced the return of $2.7 million to members of the Workers' Compensation Fund. The amount returned is based on the length of time each member has participated in the Fund. Mr. Marvin Townsend, Executive Director of TML-IRP, is here tonight to present a check to the City of La Porte for $19,329.60 which represents 1 % of our 1995-96 workers' compensation contribution for each consecutive year of membership up to a maximum of 10%.. The City of La Porte is fortunate to be a part of an organization that not only provides workers' compensation, liability, and property coverage, but also provides a total risk management service which includes safety audits and training. Action Required by Council: Pose for a picture accepting a check from Mr. Marvin Townsend. Availability of Funds: General Fund _ Capital Improvement Other Water/Wastewater _ General Revenue Sharing Account Number: Funds Available: Yes No Approved for City Council A&:enda ~~~ T. ~ Robert T. Herrera City Manager l.\ ,\q -<i{P . Date