T A B L E O F C O N T E N T S P RT I A ... - Broome County

WORKERS' COMPENSATION SELF-INSURANCE PLAN
§ 76-14 § 76-14
§ 76-14. Formula for apportionments. [Amended 12-6-1977 by L.L. No. 11-1977;
8-30-1994 by L.L. No. 15-1994; 11-22-1994 by L.L. No. 18-1994]
A. Apportionment of costs shall be determined by taking the total amount to be assessed and
applying the following formula: [Amended 8-15-1996 by L.L. No. 8-1996]
(1) Thirty-five percent (35%) of the total revenue for the plan shall be generated based
upon assessed valuation. Each participant's share shall be calculated by
determining the participant's percentage of total assessed valuation within the plan
and multiplying that percentage of assessed valuation by the total amount of
revenue to be generated by assessed valuation. The county's percentage of total
assessed valuation shall include the assessed valuation contained within
municipalities not participating in this self-insurance plan.
(2) Sixty-five percent (65%) of the total revenue for the plan shall be generated based
on experience. Each participant's share shall be calculated by determining the
participant's percentage of the average claims paid for the preceding five (5) years,
which average claims paid shall be known as the "experience factor," and
multiplying that percentage by the total amount of revenue to be generated by
experience. The increase in the experience factor used to determine the
participant's share pursuant to this subsection shall be limited to the greater of five
thousand dollars ($5,000.) or twenty percent (20%) of the amount used for the
experience factor for the prior year.
B. City of Binghamton.
(1) Notwithstanding the provisions of Subsection A, for calendar year 1995, the City
of Binghamton is authorized to become a participant for a minimum charge of
seven hundred seventeen thousand five hundred fifty-four dollars ($717,554.),
provided that the City of Binghamton files a certified copy of a resolution or
ordinance electing to become a member of the plan by December 15, 1994. Should
the plan cost during 1995 exceed the appropriated funds for the plan in 1995, the
City of Binghamton shall reimburse the plan for its proportionate share of said
additional costs in 1996. Should the plan costs during 1995 not exceed the
appropriated funds for the plan in 1995, the City of Binghamton shall apply its
proportionate share of said fund balance to its future charges under the plan.
(2) Commencing on January 1, 1996, the City of Binghamton's apportionment of costs
shall be calculated in accordance with Subsection A above.
76:5 02 - 01 - 2010