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<br />CITY OF LA PORTE, TEXAS <br />Notes to the Financial Statements <br />September 30, 2008 <br /> <br />7. Interfund Receivables, Payables and Transfers - Continued <br /> <br />The composition of interfund balances as of September 30, 2008 is as follows: <br /> <br />Receivable Fund <br /> <br />Payable Fund <br /> <br />General <br />Nonmajor governmental <br />General <br />Utility <br />Internal Service <br />Nonmajor Enterprise <br /> <br />Grant <br />Nonmajor governmental <br />Nonmajor Enterprise <br />Grant <br />Grant <br />Grant <br /> <br />$1,043,294 <br />615,026 <br />37,548 <br />35,951 <br />26,954 <br />4,238 <br />$1,763,011 <br /> <br />The outstanding balances result from an overdraw of pooled cash, a loan to the TIRZ fund, and receivables <br />for expenditures to be reimbursed by FEMA. <br /> <br />8. Risk Management <br /> <br />The City is exposed to various risks related to torts: theft, damage to and destruction of assets; errors and <br />omissions; and natural disasters. The City's risk management program encompasses various means of <br />protecting the City against loss by obtaining property, casualty and liability coverage from participation in a <br />risk pool. The participation of the City in the risk pool is limited to the payment of premiums. Further <br />information regarding the pool is provided below. Settled claims have not exceeded insurance coverage in <br />any of the previous three fiscal years. There has not been any significant reduction in insurance coverage <br />from that of the previous year. <br /> <br />Health Insurance Benefits <br /> <br />The City self-insures a portion of health insurance benefits provided to employees. The City records <br />revenues and expenses for providing employee health coverage in an Internal Service Fund and accrues <br />the estimated incurred but not reported claims. Charges are assessed to various City divisions based on <br />their full-time employee count. <br /> <br />69 <br />