2015-444-Resolution No. 2015-097 Recorded 10/2/2015 REVIEWED DESCHUTES COUNTY OFFICIAL RECORDS tji x015.444
a� BLANKENSHIP,
JOURNAL COUNTY CLERK
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LEGAL COUNSEL l0/02I2015 09,48,1
16 AM
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BEFORE THE BOARD OF COUNTY COMMISSIONERS OF DESCHUTES COUNTY,OREGON
A Resolution authorizing and establishing an
actuarily sound and adequately funded workers' * RESOLUTION NO. 201 5-097
compensation loss reserve account.
WHEREAS,Deschutes County has been self-insured for workers' compensation since July 1, 1987,and
WHEREAS, the County has established an actuarily sound loss reserve account for its workers'
compensation coverage, to be expended only for the payment of expenditures authorized under ORS 656, now,
therefore,
BE IT RESOLVED BY THE BOARD OF COUNTY COMMISSIONERS OF DESCHUTES
COUNTY, OREGON, as follows:
Section 1. The County Administrator is hereby authorized to define and restrict the workers'
compensation loss reserve account. Said account will be in accordance with reserves established by an external
actuary and pursuant to OAR 436-050-0185
Section 2. The workers' compensation loss reserve account is actuarily sound and adequately funded
and is dedicated to and expended only for the payment of compensation and amounts due pursuant to the
Workers' Compensation Act, and further provides to the Director of the Department of Consumer and Business
Services for the State of Oregon first lien and priority rights to the full amount of the workers' compensation
loss reserve account required to pay the present discounted value of all present and future claims under ORS
Chapter 656.
Dated this of - - , 20 L5 BOARD OF COUNTY COMMISSIONERS
OF DESCHUTES COUNTY, OREGON
ANTHONY DEBONE, Chair
--L
ALAN UNGER, Vice C it
ATTF-e
ecording Secretary TAMMY B EY, Co issioner
PAGE I OF 1-RESOLUTION NO.2015-097
Cr
°e Deschutes County Board of Commissioners
1300 NW Wall St., Suite 200, Bend, OR 97701-1960
(541) 388-6570 - Fax (541) 385-3202 - www.deschutes.org
AGENDA REQUEST & STAFF REPORT
For Board Business Meeting of September 23, 2015
DATE: 09/16/2015
FROM: Ken Harms Risk Management (541) 617-4747
TITLE OF AGENDA ITEM:
Consideration of Board Signature of Resolution No. 2015-097, a resolution authorizing and
establishing an actuarily sound and adequately funded workers' compensation loss reserve account.
PUBLIC HEARING ON THIS DATE? No
BACKGROUND AND POLICY IMPLICATIONS:
As part of Deschutes County's self-insured workers' compensation program we purchase a financial
security bond which costs $21,000 per year. OAR 436-050-0185 outlines steps in which a self-insured
city or county can apply for an exemption to this requirement. One of the requirements is for the
governing board of the city or county to pass a resolution establishing an actuarily sound and restricted
loss reserve account for its workers' compensation coverage. This resolution satisfies that requirement.
FISCAL IMPLICATIONS:
There will be a savings of$21,000 per year.
RECOMMENDATION & ACTION REQUESTED:
Board approval of Resolution No. 2015-097, a resolution authorizing and establishing an actuarily
sound and adequately funded workers' compensation loss reserve account.
ATTENDANCE: Ken Harms
DISTRIBUTION OF DOCUMENTS:
NA
