(A) There is hereby established a combined self-insurance program fund to be known as the "Self-Insurance Program Fund" effective January 1, 2012 for the administration of all costs in regard to general liability, auto liability, police professional and workers' compensation.
(B) The expenditures from such fund shall be approved by the Board of Public Works in accordance with the established claim procedures as provided by law. The following expenditures shall be made from the fund:
(1) Approved claims.
(2) Administrative costs for self-insurance program.
(3) Attorney fees incurred in defending claims.
(4) Actuarial expenses.
(5) Any other related expenses.
(C) The City Attorney shall review and pre- approve any claim in the amount of $10,000 and above.
(D) The city shall retain the services of an independent actuarial consultant to annually recommend actuarially acceptable funding levels for said Self-Insurance Program Fund. Council shall annually appropriate adequate funds to cover the self-insurance obligation after due consideration of the recommendations of an outside insurance or actuary analyst.
(E) Any appropriation made to establish and maintain said fund shall revert to the fund only, unless a statute provides otherwise.
(F) In addition to the amount placed in the Self-Insurance Program Fund as recommended by the independent actuarial consultant pursuant to division (D) above, Council shall appropriate an additional sum after due consideration of recommendation by City Controller equal to the administrative cost of the self-insurance program.
(`74 Code, § 2-8.7) (Ord. G-18-89, passed 7-11-89; Am. Ord. G-22-9l, passed 7-15-91; Am. Ord. G-45-92, passed 10-13-92; Am. Ord. G-8-12, passed 2-28-12)