Jurris.COM
Section 42141 Of Article 4. Public Disclosure Of Fiscal Obligations From California Education Code >> Division 3. >> Title 2. >> Part 24. >> Chapter 6. >> Article 4.
42141
. (a) If a school district or county office of education,
either individually or as a member of a joint powers agency, is
self-insured for workers' compensation claims, the superintendent of
the school district or county superintendent of schools, as
appropriate, annually shall provide information to the governing
board of the school district or the county board of education, as
appropriate, regarding the estimated accrued but unfunded cost of
those claims. The estimate of costs shall be based on an actuarial
report that incorporates annual fiscal information and is obtained by
the superintendent at least every three years. The actuarial report
shall be performed by an actuary who is a member of the American
Academy of Actuaries. If the school district or county office of
education regularly contracts for an actuarial report for other
fiscal matters, a separate actuarial report is not required, if the
estimate of costs required by this subdivision is separately and
clearly set forth in that report.
(b) The cost information required by subdivision (a) and a copy of the actuarial report on which the estimated costs are based shall be presented by the superintendent at a public meeting of the governing board. At that meeting, the governing board shall disclose, as a separate agenda item, whether or not it will reserve a sufficient amount of money in its budget to fund the present value of the accrued but unpaid workers' compensation claims or if it is otherwise decreasing the amount in its workers' compensation reserve fund.
(c) The governing board annually shall certify to the county superintendent of schools the amount of money, if any, that it has decided to reserve in its budget for the cost of those claims, and shall submit to the county superintendent of schools any budget revisions that may be necessary to account for that budget reserve.
(d) The county board of education annually shall certify to the Superintendent of Public Instruction the amount of money, if any, that has been reserved in the budget of the county office of education for the cost of those claims.
(b) The cost information required by subdivision (a) and a copy of the actuarial report on which the estimated costs are based shall be presented by the superintendent at a public meeting of the governing board. At that meeting, the governing board shall disclose, as a separate agenda item, whether or not it will reserve a sufficient amount of money in its budget to fund the present value of the accrued but unpaid workers' compensation claims or if it is otherwise decreasing the amount in its workers' compensation reserve fund.
(c) The governing board annually shall certify to the county superintendent of schools the amount of money, if any, that it has decided to reserve in its budget for the cost of those claims, and shall submit to the county superintendent of schools any budget revisions that may be necessary to account for that budget reserve.
(d) The county board of education annually shall certify to the Superintendent of Public Instruction the amount of money, if any, that has been reserved in the budget of the county office of education for the cost of those claims.
