Financial Policies

Deposit Premium Alternative Billing – Resolution 2010-04 – Deposit premiums are typically paid in full when billed annually. In the event a member is unable to make the annual payment due to financial difficulty, they may request semi-annual or quarterly billing.

EPL Rate Stabilization Fund – This resolution establishes a fund that may be used to off-set primary and/or excess employment practices liability (EPL) rates or assessments.

Grant Program Administration – The Safety & Loss Control Grant Programs assist members to improve safety in both the community and the workplace. The Board of Directors annually review funding.

Liability and Workers Compensation Funding Policies – Policies outline the funding requirements for the self-insured programs including: prospective funding confidence level, minimum overall confidence level, target equity, rate stabilization, equity distribution, and financial benchmarks.
Liability Program – Funding Policy

Workers’ Compensation Program – Funding Policy

Liability Program Minimum Premium for New Members – New members are charged a minimum if there is insufficient payroll and/or loss data to calculate an appropriate premium and does not include excess coverage.

SIR Adjustment Policies – Every three years PARSAC reviews the appropriateness of each members’ SIR based on several evaluation points.
Liability Program – SIR Adjustment Policy

Workers’ Compensation Program – SIR Adjustment Policy

Statement of Investment Policy 2018/2019 – This Statement of Investment Policy, is adopted annually by the board of directors. The policy covers all funds and investment activities under the direction of PARSAC and its advisor, PFM Management, LLC.

Subcommittee Training Stipend – This policy is intended to reward members who invest extensive amounts of time in PARSAC and to encourage increased subcommittee participation.

Travel & Expense Policy – The policy outlines general travel guidelines, covered expenses, and non-allowable expenses.

Expense Reimbursement Form 2019

Compensation

In compliance with California Government Code §12463 and the Public Employees Retirement Law (PERL) Chapter 570.5, PARSAC’s salary schedule for the current fiscal year is provided below. The schedule includes all approved positions (filled and unfilled), which enables PARSAC the flexibility to meet changing operational requirements. The below schedule is also available at the PARSAC offices:
Salary Schedule – Current Fiscal Year

PARSAC Organizational Chart

Additional information regarding total compensation for California public agencies can be found on the State Controller’s website: https://publicpay.ca.gov/Reports/SpecialDistricts/SpecialDistrict.aspx?entityid=2954.

Investments

Prudent fiscal investment has been a key component of PARSAC’s successful accumulation of equity. PARSAC’s $35 million portfolio is actively managed by PFM Asset Management with a majority of funds invested in US Treasuries and Agency securities. Municipal bonds and medium-term corporate notes were added to the investment policy in 2013. Click here for the current investment policy, which is adopted annually by the Board of Directors.

The Treasurer’s Report includes a detailed transaction listing from our investment advisor in addition to the statements from Union Bank and Local Agency Investment Fund (LAIF). If you have any questions about the report, please give us a call at (800) 400-2642.

Treasurer’s Report – March 31, 2018

Treasurer’s Report – December, 31 2017

Treasurer’s Report – September 30, 2017