(A) Established.
(1) A special non-reverting fund is hereby created to be known as the Lake County Parks and Recreation Self Insurance and Employee Benefits Fund, for the payment of uninsured liability claims, settlements and judgement by the Board, and for the administration of a program of self insurance including, but not limited to the payment of legal defense and investigation fees.
(2) The special Non-Reverting Fund shall also be used for the following employee benefits:
(a) Flexible spending accounts;
(b) Thrift saving plans; and/or
(c) Expanded insurance programs.
(B) Funding. The Special Non-Reverting Fund shall be funded from time to time by such appropriation or additional appropriation as shall be deemed necessary to operate the program by the Board.
(C) Non-Reverting. Any remaining monies at the end of the Board’s fiscal year shall not revert to the Parks Board General Fund.
(D) Transfer of excess funds. At the Board’s discretion, any monies which accumulate in the Non-Reverting Fund that it deems excess may be transferred by the Board to its Non-Reverting Land and Land Improvements Fund and or Non-Reverting Operating Fund.
(E) Effective date. This section shall be in full force and effect from the date of passage of Ord. 1282C.
(Ord. 1027A-1, passed 9-12-2000; Ord. 1281A, passed 11-14-2006; Ord. 1282C, passed 12-12-2006)