HomeMy WebLinkAbout820071.tiff RESOLUTION
RE: ESTABLISHING THE INSURANCE CLAIM REVOLVING CASH FUND ACCOUNT AND ADOPTING
A POLICY GOVERNING THE REVOLVING FUND.
WHEREAS, the Board of County Commissioners of Weld County, Colorado,
pursuant to Colorado statute and the Weld County Home Rule Charter, is vested
with the authority of administering the affairs of Weld County, Colorado, and
WHEREAS, it has been recommended to the Board of County Commissioners of
Weld County, Colorado that there is a need for an insurance claim revolving fund
in the amount of not more than Six Thousand Dollars ($6,000.00) for insurance
claims, and
WHEREAS, it has been determined that there has been a need to establish
an insurance claim revolving fund to expedite payments and reduce processing
costs, and
WHEREAS, it shall be specifically understood that all disbursements
must be reimbursed in total, and
WHEREAS, the Board believes it to be in the best interest of the County
to establish such revolving fund, and
WHEREAS, the Board of County Commissioners deems it advisable and in the
best interest of Weld County to adopt the following policy regarding disburse-
ments from the Insurance Claims Revolving Fund:
1. Expenditures will be for authorized insurance claims under $2,000 for
the self-protected insurance fund and program.
2. All payments shall be substantiated by a claim payment form authorized
by Gallagher Bassett Insurance Service.
3. All disbursements shall be reimbursed to the Revolving Fund within
one (1) week of disbursement.
4. Authorized signators from Gallagher Bassett Insurance Service shall be
the only persons allowed to request funds from the Revolving Fund for
approved claims.
5. The Revolving Fund shall be maintained by the Finance Office, reconciled
monthly and a report of transaction and composition of the fund balance
submitted monthly to the Director of Finance.
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8200 71
NOW, THEREFORE, BE IT RESOLVED by the Board of County Commissioners of
Weld County, Colorado that until further order of the Board, a revolving fund,
entitled the Insurance Claim Revolving Cash Fund is hereby established and that
such account shall not exceed Six Thousand Dollars ($6,000.00) at any one time.
BE IT FURTHER RESOLVED by the Board that the Director of Finance shall be
responsible for all receipts, disbursements and reimbursements in the adminis-
tration of said fund.
BE IT FURTHER RESOLVED by the Board that Gallagher Bassett Insurance
Service shall be designated authorized signators on the Fund, approved by
the Director of Finance.
BE IT FURTHER RESOLVED by the Board that the above and foregoing policy
concerning the Insurance Claim Revolving Fund be, and hereby is, adopted. Said
policy effective February 3, 1982.
The above and foregoing Resolution was, on motion duly made and seconded,
adopted by the following vote on the 3rd day of February, A.D. , 1982.
BOARD OF COUNTY COMMISSIONERS
WELD COUNTY, COLORADO
tIohn Martin, Chairman
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Chuck Carlson, o-Tem
Norman Carlson
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C. W. Kirb/1
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u'e K. Steinhark
ATTEST: '� (0.7(^vvw4. Udi"�wn��.fr.,,r
Weld County Clerk and Recorder
and Clerk to the Boa
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"--/:B Deputy County Clerk /'
DROV D AS TO FORM:ICCC ,(3-7,7,i 4
County Attorney
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