HomeMy WebLinkAbout15.F.6. 2005 Workers Compensation Insurance
IS: r. b,
CITY OF SHAKOPEE
Memorandum ",
TO: Mayor and CounQil C01~SENr
Mark McNeill, City Administrator
FROM: Gregg Voxland, Finance Director
SUBJ: 2005 Workers Compensation Insurance
DATE: December 11, 2004
Introduction
The Workers Compensation policy for the City and Utilities
Commission is up for renewal.
Background
This is a routine item that the work comp policy for the
city renews on January 1. The renewal is with the same
terms as last year, namely with a $500 deductible on medical
coverage.
The deposit premium last year was $126,938 and this year it
is $174,742. Actual cost is based on the actual figures
calculated after the end of the year. For the city's share
of. the cost, there is $122,350 across all funds in the 2005
budget. Based on the 2004 cost split with SPUC, the city
share for 2005 would be about $140,000. Actual deposit
premium cost split for 2005 has not been done yet and is
subject to revision after the workers compensation audit.
The League of Cities Insurance Trust has an excellent
program.
Action
Move to approve the renewal of the workers compensation with
the League of Cities Insurance Trust for a deposit premium
of $174,742.
& Voxland
Finarice Director
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