Update on TASB RMF Board of Trustees February Meeting
by June Kissinger
The Fund’s Board of Trustees met on February 5, 2010 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 Michael Murphy, Audit Partner with Deloitte & Touche. The Fund received an unqualified opinion on the 2008-09 audited financials and the Board accepted the audit results. Staff then presented the December 2009 financial statements. The Fund remains in very strong financial health with growth in members’ equity due to investment income. The Board approved the engagement of Deloitte & Touche for the 2009-10 financial audit.
The Claims Committee presented a report on current claims activities and trends. This included an update on Hurricane Ike claims, several significant property/liability claims, and 10 large workers’ compensation claims. The Claims Committee also had a discussion regarding the legislative sunset review of the Texas Department of Insurance and the Division of Workers’ Compensation, Fund members’ non-compliance with mandated reporting requirements, and subrogation against students.
The Member Services Committee reported on membership changes and current marketing conditions. Ed Thompson, TASB staff, presented an update on the new School District Emergency Management and Security Program. Staff is finishing up on the training curriculum for the core programs.
Pilot training for the program will be conducted from February through May 2010.
Based upon the results of the pilot program, staff will present recommendations on program implementation, proposed staffing, and program cost and funding at the July 2010 meeting. The Member Services Committee gave a report on the 2010 Innovation Awards. They received 34 applications from 29 members. The applications were distributed to committee members for their review and to individually vote on the winners. Up to 10 winners will be selected for awards and will be honored at the 2010 Fund Members’ Conference. Finally, the Committee reported on the status of the 2010 Loss Prevention Grant program and plans for the 2010 Fund Members’ Conference to be held in April 2010.
Dubravka Romano, TASB staff, presented reports on the Fund’s Strategic Plan, the Fund’s sponsorship and license agreement negotiations, and the litigation management program. The Board approved the AGRiP Certification of Recognition application.
Prior to the executive session, the meeting concluded all other business with an election of the Nominations Committee, a final report on the special committee on entity board selections, and a discussion of the board meeting schedule and training opportunities.
If you have any questions about this report, contact June Kissinger at 800.482.7276, ext. 3545.
