Compendium of Budget Information for the 2010 General Session

Commerce & Workforce Services
Appropriations Subcommittee

Line Item: Employers Reinsurance Fund

Function

The Employers' Reinsurance Fund (ERF) makes payments for industrial accidents or occupational diseases occurring on or before June 30, 1994. Administrative costs may be paid from the fund, but unrelated expenses are not allowed.

Revenues come from a 5.0% (3.5% of Statutory Limit, January 1, 2010) surcharge on employers' Workers' Compensation premiums collected by the State Tax Commission. It is expected that the ERF will be fully funded to meet all of its liabilities by 2013.

See UCA 34A-2-702

Funding Detail

Sources of Finance	2006 Actual	2007 Actual	2008 Actual	2009 Actual	2010 Approp
Dedicated Credits Revenue	$0	$0	$2,264,600	$48,250,000	$2,500,000
Trust and Agency Funds	$0	$0	$50,582,800	$0	$0
Premium Tax Collections	$0	$0	$0	$0	$47,600,000
Premium Tax Payments	$0	$0	$0	$0	$650,000
Transfers	$0	$0	$0	$0	($73,000)
Total	$0	$0	$52,847,400	$48,250,000	$50,677,000

Programs:	2006 Actual	2007 Actual	2008 Actual	2009 Actual	2010 Approp
Employers Reinsurance Fund	$0	$0	$52,847,400	$48,250,000	$50,677,000
Total	$0	$0	$52,847,400	$48,250,000	$50,677,000

Categories of Expenditure	2006 Actual	2007 Actual	2008 Actual	2009 Actual	2010 Approp
Current Expense	$0	$0	$156,800	$200,000	$0
Other Charges/Pass Thru	$0	$0	$52,690,600	$48,050,000	$50,677,000
Total	$0	$0	$52,847,400	$48,250,000	$50,677,000

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