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Notes to the Financial Statements <br />June 30, 2020 <br />NOTE 9 —RISK MANAGEMENT (continued) <br />During the past three fiscal (claims) years, none of the -above programs of protection have had <br />settlement or judgments that exceeded pooled or insured coverage. There have been no <br />significant reductions in pooled or insured liability coverage from coverage in the prior year. <br />Claims payable <br />General Liability <br />Worker's Compensation <br />8227904 <br />Total claims payable 822)904 <br />A reconciliation of changes in the aggregate liabilities for claims for the current year and the prior <br />two fiscal years is as follows: <br />Claims liability, beginning balance <br />Incurred claims, representing the total <br />of a provision for events of the current fiscal year <br />and any change of prior fiscal years <br />Payments on claims attributable to events of both <br />the current fiscal year and the prior fiscal years <br />Claims liability, ending balance <br />2018 — 2019 — 2020 <br />$670J831 $6661444 <br />666,444 825J758 <br />$7271400 <br />3521806 <br />— <br />(670, 831) _ (764, 802)_(257,302) <br />$6661444 $7271400 $822)904 <br />The District is a defendant in certain other legal actions arising in the normal course of operations. <br />In the opinion of management and legal counsel, any liability resulting from these actions will not <br />result in a material adverse effect on the District's financial position. <br />Covid- 19 <br />In December 2019, a novel strain of coronavirus has spread around the world resulting in <br />business and social disruption. The coronavirus was declared a Public Health Emergency of <br />International Concern by the World Health Organization on January 30, 2020. The operations <br />and business results of the District could potentially be adversely affected by this global <br />pandemic. The extent to which the coronavirus may impact business activity or investment results <br />will depend on future developments, which are highly uncertain and cannot be predicted, <br />including new information which may emerge concerning the severity of the coronavirus and the <br />actions required to contain the coronavirus. The District has not included any contingencies in <br />the financial statements specific to this issue. <br />63 <br />