File #: 19-00860    Version: 1
Type: Administrative Item Status: Agenda Ready
File created: 9/27/2019 In control: BOARD OF SUPERVISORS
On agenda: 10/8/2019 Final action: 10/8/2019
Title: Consider recommendations regarding a Loss Portfolio Transfer (LPT) Agreement with California State Association of Counties Excess Insurance Authority (CSAC EIA), as follows: (4/5 Vote Required) a) Approve and authorize the Chair to execute the LPT Agreement for $14,989,800.00, which transfers the County of Santa Barbara's outstanding self-insured workers' compensation liability to the CSAC EIA; b) Approve Budget Revision Request No. 0006638 to establish appropriations of $2,274,200.00 in County Executive Office Workers' Comp Self Insurance Fund to increase Services and Supplies funded by a decrease to Retained Earnings; and c) Determine that the above action is not a project under the California Environmental Quality Act (CEQA) pursuant to CEQA Guidelines Sections 15378(b)(4) and 15378(b)(5) because it consists of government administrative or fiscal activities that will not result in direct or indirect physical changes in the environment.
Sponsors: COUNTY EXECUTIVE OFFICE
Attachments: 1. Board Letter, 2. Attachment A - Loss Portfolio Transfer Agreement with California State Association of Counties – Excess Insurance Authority, 3. Attachment B - Budget Revision Request No. 0006638, 4. Executed Agreement, 5. Minute Order

Title

Consider recommendations regarding a Loss Portfolio Transfer (LPT) Agreement with California State Association of Counties Excess Insurance Authority (CSAC EIA), as follows: (4/5 Vote Required)

 

a) Approve and authorize the Chair to execute the LPT Agreement for $14,989,800.00, which transfers the County of Santa Barbara’s outstanding self-insured workers’ compensation liability to the CSAC EIA;

 

b) Approve Budget Revision Request No. 0006638 to establish appropriations of $2,274,200.00 in County Executive Office Workers’ Comp Self Insurance Fund to increase Services and Supplies funded by a decrease to Retained Earnings; and

 

c) Determine that the above action is not a project under the California Environmental Quality Act (CEQA) pursuant to CEQA Guidelines Sections 15378(b)(4) and 15378(b)(5) because it consists of government administrative or fiscal activities that will not result in direct or indirect physical changes in the environment.