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Risk Management Division Finance Bureau
The Finance Bureau centralizes all financial functions for the Risk Management Division, ensuring accountability and timely processing of the Division’s financial transactions and functions.
Comprised of a Finance Bureau Chief and four staff members, the Bureau handles budget preparation, accounts receivables, accounts payables and contracts; maintains a running record of fund balances, premium collections, and pending payments; conducts insurance-related exposure surveys; and determines premiums necessary to pay claims and maintain actuarial sufficiency.
The Bureau assists with premium formulation for all risk rates (workers’ compensation, general liability, law enforcement, medical malpractice, civil rights, automobile liability, automobile physical damage, blanket property, fine arts, boiler and machinery, aircraft liability and aircraft hull), and state agency and local public body unemployment compensation.
The Bureau purchases, maintains, and controls all supplies and equipment needed by Risk Management Division personnel.