2.95.120 General liability reserve fund.

(1)    The county shall maintain an account known as the liability reserve fund. Such account shall be funded and administered as follows:

(a)    Contributions by the various departments to the liability reserve fund shall be determined during the annual budgeting process. The amounts will be in accordance with a formula proposed by the risk manager and approved by the county manager.

(b)    Contributions to the fund will be made monthly, based on the approved budget. Off cycle assessments to any fund(s) may be made if deemed necessary through the budgetary process.

(c)    The accumulated reserves in the liability reserve fund should be maintained at an actuarially sound level.

(d)    The treasurer shall invest according to the established county policy, the principal sums appropriated to the liability reserve fund, and any interest earned thereon shall accrue to such fund.

(2)    The following classes of expenditures may be made from the liability reserve fund:

(a)    Amounts for payments for liability claims;

(b)    Premiums for insurance as may be placed for the county at the direction of the county manager;

(c)    Costs and expenses related to the administration, loss prevention, exposure mitigation, investigation, adjustment and litigation of claims against the county;

(d)    Amounts for payments arising out of the direct damage to all types of county property. (Sec. 12 of Ord. 1987-07-27; amended by Sec. 7 of Ord. 1991-11-30; amended by Sec. 9 of Ord. 2008-01-17; amended by Sec. 5 of Ord. 2012-05-31; amended by Sec. 10 of Ord. 2025-10-09)