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2015 CSD Pool Financial Information

2015 Financials _ banner

Economic and weather conditions over the last few years have led to financial ups and downs for the CSD Pool. With 2015 now behind us, the story for the Pool is largely positive. Solid membership growth and disciplined risk management spending are coming together to help build a strong future and healthy reserves.

The Pool is in a stronger position now than it was at this time last year. With dozens of new members coming to both the Property & Liability and Workers’ Compensation divisions and a net income of $1.3 million, the Pool now has a surplus reserve of almost $19 million. This is the largest the Pool has ever had, and brings us closer to the Pool Board’s stated goal of $21 million.

To a certain extent, much of this positive news is owed to favorable weather conditions. There were no catastrophic floods, hail storms, or wildfires last year, and that contributed to the overall favorable financial results.

Key Financial TakeawaysGood news aside, there were still a large number of incidents in the Workers’ Compensation line that are cause for concern. These incidents, including several deaths and the presumption of cancer from 2007, continue to be a drag on the workers’ compensation performance and dampen otherwise very positive outcomes.

Though these issues are serious, the Pool has several programs and plans in the works to help reduce those incidents in the long and near terms. As you will read in this issue, we have hired a new Safety Management Consultant to help districts achieve greater utilization of their safety committees. We continue to partner with the Colorado Firefighter Heart and Circulatory Benefits Trust to bring some of those uncontrollable risk factors out of workers’ compensation. Finally, we remain committed to providing services and support to all members to ensure that their employees conduct business in a safer environment.

Clearly, 2015 was a great year for the Pool. We hope that 2016 follows suit and are positive about both the developments in our financial outlook and in the programs and strategies we have in store to help improve them further. If your district has any thoughts on new ways we can partner with you to deliver on that commitment, don’t hesitate to share your thoughts.

Financial Chart

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