Broward County Commission Regular Meeting
Director's Name: Norman Foster
Department: Office of Management and Budget
Information
Requested Action
title
MOTION TO ADOPT budget Resolution No. 2020-644 transferring $2,000,000 within the Broward Sheriff's Office (BSO) Workers' Compensation Fund from the reserve to BSO Administration for workers' compensation claims.
body
Why Action is Necessary
Transferring funds from reserves requires approval of the Board of County Commissioners.
What Action Accomplishes
Transfers $2,000,000 from the BSO Workers' Compensation Fund reserve to BSO Administration to settle workers' compensation claims.
Is this Action Goal Related
No
Previous Action Taken
None.
Summary Explanation/Background
This motion seeks approval to transfer $2,000,000 from the BSO Workers' Compensation Fund reserve to BSO Administration to cover increased claims due to the COVID-19 pandemic. The Fiscal Year 2021 operating budget includes $14,435,565 for BSO workers' compensation claims. If approved, this transfer would bring BSO's total Fiscal Year 2021 budget for workers' compensation claims to $16,435,565.
BSO has administered a workers' compensation program for its employees since October 1, 2012. Prior to that date, BSO employees were included in the County's workers' compensation program. The County provides funding to BSO for its workers' compensation program through its annual budget. As provided in the Memorandum of Understanding (MOU) which transferred authority for a workers' compensation program for BSO employees from the County to BSO, the amount budgeted for BSO workers' compensation claims exposure is based on an annual actuarial report prepared at the County's expense. The actuarial report projects the budgetary need for the self-insured portion of BSO's workers' compensation program in order to pay claims and have adequate reserves for outstanding liabilities. The MOU prohibits BSO from transferring funds budgeted for worker...
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