COBI 2015 - ISF - Risk Management Administration

Overview
Issues
Background
Financials

Sources Uses

FY 2016 Appropriation

The Administration Program includes liability, property, and auto physical damage coverage. The auto physical damage programs is entirely self-insured, while the property insurance program is self-insured up to a $3.5 million aggregate yearly deductible with private insurance being purchased for amounts in excess of the deductible. The liability insurance program has purchased private insurance for claims greater than $1 million but less than $11 million.

The Risk Management Fund handles claims against the state. The State Risk Manager makes final determinations on claims management, defense, and settlements.

Funding History

Appropriation Overview

During the 2015 General Session, the Legislature appropriated for Fiscal Year 2016, $700 from all sources for ISF - Risk Management Administration. This is a 0 percent increase from Fiscal Year 2015 revised estimated amounts from all sources.

During the 2006 General Session the Legislature passed S.B. 113, increasing the state's government immunity aggregate cap from $1,167,900 to $2,000,000. The government immunity aggregate cap is adjusted every even fiscal year. The cap as of July 1, 2014 is $2,407,700.

All revenue comes from insurance premiums or interest earned. The Legislature may return excess retained earnings to the General Fund.

Display By:

Funding Source

Expenditure Category

Appropriation Type:

Appropriation History by

Sources of Finance	FY11 Actual	FY12 Actual	FY13 Actual	FY14 Actual	FY15 Approp	FY15 Change	FY15 Revised	FY16 Change	FY16 Approp
Premiums	30,493,800	30,196,900	30,761,400	0	33,080,900	(33,080,900)	0	700	700
Interest Income	398,700	338,500	243,000	0	311,000	(311,000)	0	0	0
Dedicated Credits - Intragvt Rev	0	0	0	100	0	0	0	0	0
Total	$30,892,500	$30,535,400	$31,004,400	$100	$33,391,900	($33,391,900)	$0	$700	$700

Categories of Expenditure	FY11 Actual	FY12 Actual	FY13 Actual	FY14 Actual	FY15 Approp	FY15 Change	FY15 Revised	FY16 Change	FY16 Approp
Personnel Services	2,364,800	2,429,500	2,525,800	2,625,400	2,685,800	178,300	2,864,100	0	2,864,100
In-state Travel	18,900	19,000	19,700	19,000	19,700	0	19,700	0	19,700
Out-of-state Travel	18,700	16,200	22,900	23,600	17,500	0	17,500	0	17,500
Current Expense	24,797,500	27,317,900	32,415,300	608,100	30,104,700	(29,775,500)	329,200	700	329,900
DP Current Expense	315,300	175,300	78,900	107,300	178,200	(99,900)	78,300	0	78,300
Capital Outlay	0	0	70,200	0	0	0	0	0	0
Other Charges/Pass Thru	7,700	(13,700)	(1,482,900)	(2,936,800)	265,600	(3,870,000)	(3,604,400)	0	(3,604,400)
Depreciation	0	70,400	0	161,100	110,400	199,800	310,200	0	310,200
Total	$27,522,900	$30,014,600	$33,649,900	$607,700	$33,381,900	($33,367,300)	$14,600	$700	$15,300

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Other Indicators	FY11 Actual	FY12 Actual	FY13 Actual	FY14 Actual	FY15 Approp	FY15 Change	FY15 Revised	FY16 Change	FY16 Approp
Budgeted FTE	24	24	25	25	26	0	26	1	27
Actual FTE	23.68	23.61	23.90	24.50	0	0	0	0	0
Authorized Capital Outlay	62,100	289,500	255,800	27,800	200,000	0	200,000	0	200,000
Retained Earnings	2,882,900	3,405,800	(870,100)	258,500	(960,100)	1,204,000	243,900	(14,500)	229,400
Vehicles	7	7	7	7	7	0	7	0	7

COBI contains unaudited data as presented to the Legislature by state agencies at the time of publication. For audited financial data see the State of Utah's Comprehensive Annual Financial Reports.