HomeMy WebLinkAbout00 158 Workplace Insurance Rsrv
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TIlE CORPORATION OF TIlE MUNICIPALITY OF KINCARDINE
BY-LAW
NO. 2000 -158
A BYLAW TO ESTABLISH RESERVES AND RESERVE FUNDS
FOR WORKPLACE INSURANCE
WHEREAS the Municipal Act R.S.O. 1990 Chapter 45, Section 163
provides that a municipality may establish and maintain a reserve fund for
any purpose for which it has authority to spend funds;
NOW THEREFORE the Council for The Corporation of the Municipality of
Kincardine ENACTS as follows:
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1. That the following reserve fund be established:
·Workplace Insurance Reserve Fund" to be used to fund claims and
administration costs arising from workplace accidents which are
payable as a result of the municipality being a Workplace Safety
Insurance Board Schedule 2 employer. Furthermore, that the costs
associated with the purchase of excess indemnity and occupational
accident insurance be funded from this reserve fund.
2.
The balance in the Worker's Compensation Reserve in the amount
of $5020.54 be transferred to the Workplace Insurance Reserve
Fund.
3.
Any NEER refunds received be transferred into this reserve fund.
4. Contributions will be made to this reserve fund beginning January
1, 2001 from each of the operating departments. The amounts
contributed to be on a pro rata basis of the amounts that would
have been payable had the municipality continued to be a Schedule
1 employer in sufficient amounts to maintain the balance in the
reserve fund at $50,000.
5. If Council should deem it advisable, moneys raised for the reserve
fund established by Article 1 may be expended, pledged or applied
to a purpose other than for which the fund was established.
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Establishing A Workplace Insurance Reserve Fund
By-Law No. 2000-158
Page 2 of 2
6.
This by-law shall come into full force and effect upon its final
passage.
7.
This by-law may be cited as the ·Establishing a Workplace
Insurance Reserve Fund By-law".
READ a FIRST, SECOND, and THIRD time and DEEMED TO BE PASSED
this 13th day of December, 2000.