Business & Non-Instructional Operations

3532-BP

INSURANCE FUND RESERVES

The Placentia-Yorba Linda Unified School District is legally self-insured for Workers' Compensation, Property Loss and General Liability. The district has established separate funds for the purpose of covering losses with self-insured retention levels established by the district.

It shall be the policy of the Board of Education to place sums in those funds, to be provided from the transfer of General Funds, as will be sufficient to protect the District from losses within the self-insured retention level. In order to protect the District in the event of catastrophic or multiple losses, it shall be the policy of the board to maintain the amount of self-insurance reserves at the recommended level of not less than five times the self-insured retention amount.

Policy adopted:

2/22/82