The Risk Management Trust Board meets at least once a year and makes recommendations thereafter to the City Council, through the City Manager, regarding the investment and administration of the Risk Management Trust Fund.
Board Scope and Duties
The Risk Management Trust Board submits an annual report to the City Council through the City Manager relating to the status of the Risk Management Trust Fund and making other recommendations that the Board deems necessary and appropriate. The purpose of the Trust Fund is to provide for the payment of benefits, losses, and claims as set forth in Arizona Revised Statutes § 11-981(A), which include legal defense costs, administrative costs, claims adjusting costs, losses (including those related to workers’ compensation, personal injury or property damage), reserves for anticipated losses and lawsuits, insurance costs (including premiums), external audit, and other expenses related to the operation of the City’s self-insurance program.
Board Composition
The Risk Management Trust Board is composed of one member of City Council, the Chief Financial Officer or designee, and three joint members. At the time of initial appointment, the City Council designates the length of terms to provide for staggered terms. The City Council and Chief Financial Officer positions on the Board are not subject to term limits.
Board Meetings
The Board meets as needed in the Tempe Public Library, 3500 S. Rural Rd., Tempe, unless otherwise noted on the meeting agenda.
