Update on TASB RMF Board of Trustees February Meeting

by June Kissinger

The Fund’s Board of Trustees met on February 6, 2009, at TASB headquarters in Austin. They heard reports from the Audit and Finance Committee, the Claims Committee, and the Member Services Committee. 

The Audit Committee and full Board heard a presentation by Donald Shepherd, Audit Partner with Deloitte & Touche. The Fund received an unqualified opinion on the 2007-08 audited financials, and the Board accepted the audit results. Staff presented the December 2008 financial statements and despite a reduction in Members’ Equity since September 1, the Fund is in very strong financial health and well-positioned to weather the current economic conditions. 

The Claims Committee presented a report on current claims activities and trends. This included an update on the Hurricane Ike claims, several significant property/casualty claims, and eight large workers’ compensation claims. The Claims Committee also had a discussion regarding workers’ compensation seasonal benefit adjustments, an update on the Political Subdivision Workers’ Compensation Alliance, and a report on the Unemployment Compensation  program.

The Member Services Committee reported they were reviewing the 21 Innovation Award applications, and they will submit their results to staff by February 27. At that time, staff will notify winners and invite them to the Annual Fund Members’ Conference in April where they will be presented with their $1,000 checks and plaques. The committee gave a report on market conditions, membership changes since the last board meeting, an update on stop-loss renewal, the unemployment compensation program, an update on the Members’ Conference, and other Fund training.

The Board approved the AGRIP Certificate of Recognition application, heard a report on administrative fees, and a progress report on the Risk Management Services Program Review and Evaluation Process (PREP).

If you have any questions about this report contact June Kissinger, at 800

482.7276, ext. 3545.


Disclaimer: This newsletter is intended for Fund members only and any unauthorized distribution not approved by the Fund is strictly prohibited. The newsletter is for educational purposes only and contains information to facilitate a general understanding of the law. It is not an exhaustive treatment of the law on this subject, nor is it intended to substitute for the advice of an attorney. Consult with your own attorneys to apply these legal principles to specific fact situations.