FINANCIAL RESERVES POLICY - Laserfiche WebLink

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compensation claims. The District obtains insurance through a joint powers authority, "California Association for Park and Recreation Indemnity" (CAPRI), and has a self- insured retention (SIR) of $100,000 for liability claims and $350,000 for workers' compensation claims. Funding: This reserve balance is $2.50 million as ofT11.4. i., - Ir e.; 11 na - :17 10 1 - gJanuaa 21, 2021. Claims are currently handled on a pay-as-you-go basis out of the General Fund. Equipment Replacement Reserve Purpose: The Equipment Replacement Reserve is committed for vehicle and information technology and recreation equipment replacement. Use of Funds: The Equipment Replacement Reserve is designed as a structured vehicle and equipment replacement program to keep necessary vehicles and equipment functional and effective. Equipment and vehicle replacements are made from this fund. Funding: Annually, the estimated replacement cost is transferred from the General Fund to the Equipment Replacement Fund. As of January 21-16, 20291 the balance in this reserve is $4.7-58 million. Vested Leave Reserve Purpose: The Vested Leave Reserve is assigned for accrued leave (vacation/sick) payouts. Use of Funds: The Vested Leave Fund is to be used to cover the estimated cost of the vested accrued vacation/sick leave of all District employees. . . . . . . . . . . . . . . . )MAY- Tkkk MrMn WANI.Y.= M rw�AW ILWA wv� LQ!4 lftu�A A Ilk . . . . . . • A M AN . . . . IN a 1002&�.M mew IAWL�viof*A A A KWA% WAZT •M i's �kr^lk M A. "k awm I is -A 11 Ws CA ;"�WWMII"Itiftll AL RITOT87257F as, r"O a, %W W9"ft it' AL Aa A" WN W.JW,W yr.10 NIL-% 0 man' I— ArMOWANkS r."Mr.-K AWN a a M.P"KNIMMA 9"s 9 wM U's x M' rWXWW1W2LW&W • Ion OL am 1KIML"�1kWU LW1LWJMr�-W_- K Mar" ftFAbT;"WJr& 42 iv, I Ah �A�Iwftz -WOF -%W.WM _W A - - . 'k N hl", LVJ. p F^ a Ml= a MIKW I UL" WWA�J WX,' U �01KM-S=w-A Equipment Replacement Reserve Purpose: The Equipment Replacement Reserve is committed for vehicle and information technology and recreation equipment replacement. Use of Funds: The Equipment Replacement Reserve is designed as a structured vehicle and equipment replacement program to keep necessary vehicles and equipment functional and effective. Equipment and vehicle replacements are made from this fund. Funding: Annually, the estimated replacement cost is transferred from the General Fund to the Equipment Replacement Fund. As of January 21-16, 20291 the balance in this reserve is $4.7-58 million. Vested Leave Reserve Purpose: The Vested Leave Reserve is assigned for accrued leave (vacation/sick) payouts. Use of Funds: The Vested Leave Fund is to be used to cover the estimated cost of the vested accrued vacation/sick leave of all District employees.