ACFR FY 2022 FINAL BOOK - Flipbook - Page 107
FINANCIAL SECTION
City of Eustis, Florida
NOTES TO FINANCIAL STATEMENTS
Note 10 - Risk Management
Property, Casualty, Liability and Workers’ Compensation
The City is exposed to various claims and losses, including property damage, liability, and workers’
compensation, for which it participates in an insurance pool with other State of Florida cities� premiums
are determined based on each city’s loss ratio for the previous year� The pool, although largely
self-insured, purchases excess coverage from commercial carriers�
During the last five years, the experience rate as it relates to the loss fund set up by the City’s insurance provider is as follows:
Loss Fund Analysis Valuation as of September 30, 2022
Year
2021
2020
2019
2018
2017
2016
2015
2014
2013
2012
2011
2010
2009
2008
2006
Loss Fund
Experience
759,979
90,093
703,685
470,050
651,560
463,213
627,707
932,843
604,727
458,389
525,941
170,149
543,640
60,392
496,482
533,653
436,122
319,821
396,475
358,038
500,000
427,689
628,585
824,500
477,351
393,171
292,667
1,332,130
398,766
772,099
$
8,043,687 $
7,606,230
Percentage Use
of Loss Fund
11�85%
66�80%
71�09%
148�61%
75�80%
32�35%
11�11%
107�49%
73�33%
90�31%
85�54%
131�17%
82�37%
455�17%
193�62%
94.56%
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Annual Comprehensive Financial Report | September 30, 2022
107