ACFR FY 2023 Final - Flipbook - Page 113
FINANCIAL SECTION
City of Eustis, Florida
NOTES TO FINANCIAL STATEMENTS
Note 10 - Risk Management
Property, Casualty, Liability and Workers9 Compensation
The City is exposed to various claims and losses, including property damage, liability, and workers9
compensation, for which it participates in an insurance pool with other State of Florida citiesÿ premiums
are determined based on each city9s loss ratio for the previous yearÿ The pool, although largely
self-insured, purchases excess coverage from commercial carriersÿ
During the last ove years, the experience rate as it relates to the loss fund set up by the City9s insurance provider is as follows:
Loss Fund Analysis Valuation as of September 30, 2023
Year
2023
2022
2021
2020
2019
2018
2017
2016
2015
2014
2013
2012
2011
2010
2009
Loss Fund
Experience
501,393
2,373
443,711
204,790
759,979
411,582
703,685
476,812
651,560
687,893
627,707
1,056,374
604,727
560,600
525,941
244,582
543,640
60,392
496,482
544,724
436,122
319,899
396,475
511,538
500,000
427,689
628,585
1,163,533
477,351
393,171
$
8,297,358 $
7,065,952
Percentage Use
of Loss Fund
0ÿ0%
13ÿ4%
44ÿ0%
61ÿ7%
91ÿ0%
155ÿ5%
77ÿ0%
32ÿ7%
11ÿ1%
109ÿ7%
73ÿ4%
129ÿ0%
85ÿ5%
185ÿ1%
82ÿ4%
77.8%
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Annual Comprehensive Financial Report | September 30, 2023
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