What is a Self-Insurance Fund?

A Self-Insurance Fund provides a central risk financing mechanism and self-insurance reserve for the payment of claims relating to workers’ compensation and general liability. The City has two separate Self-Insurance Funds: Worker's Compensation and Liability. They are administered by the Risk Management section of Human Resources. Activities of these funds include retaining third party administrators, obtaining third party property insurance coverage and securing claims management services.

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1. What is the city’s Adopted Budget?
2. What is a Fiscal Year?
3. What is an ad valorem tax?
4. What does a North Miami Beach property owner pay in taxes?
5. What is a mill?
6. What is the millage rate?
7. How many full-time employees work for the City?
8. For purposes of the City’s budget, what does debt mean?
9. What does debt service mean?
10. What is a fund?
11. What is an Enterprise Fund?
12. What is a Self-Insurance Fund?
13. What is the Capital Improvement Program (CIP)?
14. What is a capital project?
15. What does GAAP and GASB stand for?
16. What is a CAFR?