Accounting Procedures Handbook

22 INSURANCE PROGRAM RISK MANAGEMENT members. a. MABE Director will issue a request for data for the current fiscal year. b. Obtain Summary of Numbers of Employees by Unit (full time and part time employees) from Human Resources. c. Obtain Vehicle Inventory from Finance Accountant. d. Retrieve latest bus census spreadsheet and confirm with Transportation the number of routes, paid spares and unpaid spares. e. Obtain copy of the final School enrollment report i. Enter head count. ii. Calculate FTE. f. Obtain copy of Approved Consolidated Budget. i. Retrieve previous year’s Excel file (Insurance/MABE Pool FY 20YY. ii. Enter budget information by category and object. g. Retrieve report Statement of Allocations and Expenditures by category. h. Enter Food Service budget and actual expense by object. i. Enter Unrestricted Salary and calculate restricted salary (Total expenditures less unrestricted). 2. Other Coverage Fiduciary Liability coverage and underground storage tank coverage is obtained from commercial providers. The Risk manager advises the Comptroller annually of the need for such continued coverage and reviews limits and files applications as necessary. 3. Various Employee Benefit Group Insurance Plans (see section 17.3 – Pension/Benefits) •Health and Dental, •Group-term Life with ADD •Supplemental Life Insurance (100% employee cost) See the WCBOE Human Resources website for information regarding employee insurance programs. The Risk Manager reviews all plans annually and makes recommendations as part of the Budget process relative to plan changes and costs. 4. Student Accident Insurance The Board provides a Student Accident Insurance program for purchase by student’s parents. The Risk Manager is responsible for this program and its administration. Parents are encouraged to purchase the low cost accidental type coverage for their student(s). The voluntary enrollment of students in this insurance program is executed by the Board. The Board receives no profit from the sale of this policy. School insurance is available to all members of the student body and is sold at the beginning of the school year. 5. Workers' Compensation As required by law, the Board provides Workers' Compensation coverage through the MABE Workers’ Compensation Group Self-insurance Fund. The Human Resources Specialist is trustee to the self-insurance fund on behalf of the Board. For