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Meeting Agenda
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I. CALL TO ORDER - 9:00AM
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II. CHAIR'S REMARKS
Michael J. Moore, Board Chair 9:00-9:15AM |
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III. FUND ADMINISTRATOR'S REMARKS
Rhonda Roorda, MICU Fund Administrator 9:15-9:30AM |
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III.A. Minutes Of The March 10, 2023 Virtual Board Meeting
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III.B. Recommendation - #1
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IV. INVESTMENT AGENT REPORT - HUNTINGTON NATIONAL BANK
Mark Vostrizansky, Vice President - Senior Porfolio Manager 9:30-9:45AM |
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V. SERVICE AGENT REPORTS - BROADSPIRE
Joanne Cameron, Sr. Account Executive & Lisa Fular, Sr. Claim Examiner 9:45-10:00AM |
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VI. SAFETY & LOSS VISIT REPORT - THE ASU GROUP
Adam Wilberding, Director of Loss Control Services 10:00-10:15AM |
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VII. ACTUARIAL REPORT - AON
Terry Pfeifer, Senior Consultant 10:15:10:30AM |
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VIII. BREAK
10:30-10:45AM |
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IX. POST-AUDIT (2022) SESSION WITH YEO & YEO
(PER AUDITING STANDARDS) Bradley DeVries, Principal & Andrew Walton, Senior Accountant 10:45-11:00AM |
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X. MICU WORKERS' COMPENSATION FUND EFFICIENCY STUDY PRESENTATION
Bradley DeVries, Yeo & Yeo & Robert LeFevre, MICU 11:00-11:30AM |
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XI. MICU FUND BOARD OF TRUSTEES BUSINESS MEETING
11:30-12:30PM |
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XI.A. 2023 FUND YEAR BUSINESS
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XI.A.1. 2023 Estimated Premium Collections
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XI.A.1.a. Memo To Board Of Trustees Regarding Status Of 2023 Estimated Premium Collections
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XI.A.1.b. 2023 Estimated Annual And Quarterly Premium Chart
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XI.A.2. Second Quarter Fiscal Report For The Period Ending June 30, 2023 And Transmittal Email-Surplus Transfer Recommendation
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XI.A.2.a. Second Quarter Fiscal Report For The Period Ending June 30, 2023
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XI.A.2.b. Recommendations #2 & 2a.
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XI.B. 2022 FUND YEAR BUSINESS
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XI.B.1. 2022 Payroll Audit Premiums
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XI.B.1.a. Memo To Board Of Trustees Regarding Status Of 2022 Payroll Audits
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XI.B.1.b. Refunds Of 2022 Overpayments/Collection Of Add'l Balances Due
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XI.B.1.c. 2022 Excess Reinsurance Premium & Service Fee Payables ($12,795)
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XI.B.1.d. Recommendation #3
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XI.B.2. Actuarial Study (12/31/22)
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XI.B.2.a. Final Actuarial Report (12/31/22)
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XI.B.2.b. Recommendation #4
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XI.B.3. 2022 Audit
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XI.B.3.a. July 21, 2022 Independent Auditor's Report (Draft/Final)
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XI.B.3.a.1. Recommendation #5
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XI.B.3.b. Final Audit Report For Financial Statements Ending December 31, 2022 (Draft/Final)
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XI.B.3.b.1. Recommendation #6
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XI.B.3.c. Additional MICU Audit Documentation
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XI.B.3.c.1. Fund Management Letter (TBD) - Recommendation #7
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XI.B.4. Equity Analysis As Of December 31, 2022 [Post Payroll Audits]
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XI.B.4.a. Recommendation #8
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XI.B.5. Preliminary Planning, Projections For Distributions During 2023
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XI.B.5.a. Loss Fund Dividends From Prior Years
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XI.B.5.b. Proposed Declarations (Discussion): At September 15, 2023 Board Business Meeting
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XI.C. FUND OPERATIONS
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XI.C.1. Proposed 2024 Slate Of Nominations For Fund Trustee Officers & Trustee Terms As Presented By The Nominating Committee
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XI.C.1.a. Recommendation #9
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XI.C.2. REMINDER: Next Board Meeting & Annual Membership Meeting-September 15, 2023
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XII. ADJOURNMENT - 12:30PM
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Agenda Item Details
Reload Your Meeting
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| Meeting: | July 21, 2023 at 9:00 AM - MICU Workers' Compensation Fund Board Of Trustees Meeting | |
| Subject: |
I. CALL TO ORDER - 9:00AM
|
|
| Subject: |
II. CHAIR'S REMARKS
Michael J. Moore, Board Chair 9:00-9:15AM |
|
| Presenter: |
Michael J. Moore, Board Chair
|
|
| Subject: |
III. FUND ADMINISTRATOR'S REMARKS
Rhonda Roorda, MICU Fund Administrator 9:15-9:30AM |
|
| Presenter: |
Rhonda M. Roorda, Fund Administrator
|
|
| Subject: |
III.A. Minutes Of The March 10, 2023 Virtual Board Meeting
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|
| Subject: |
III.B. Recommendation - #1
|
|
| Subject: |
IV. INVESTMENT AGENT REPORT - HUNTINGTON NATIONAL BANK
Mark Vostrizansky, Vice President - Senior Porfolio Manager 9:30-9:45AM |
|
| Presenter: |
Mark S. Vostrizansky, Vice President & Portfolio Manager
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|
| Subject: |
V. SERVICE AGENT REPORTS - BROADSPIRE
Joanne Cameron, Sr. Account Executive & Lisa Fular, Sr. Claim Examiner 9:45-10:00AM |
|
| Presenter: |
Joanne M. Cameron, Sr. Account Executive
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|
| Subject: |
VI. SAFETY & LOSS VISIT REPORT - THE ASU GROUP
Adam Wilberding, Director of Loss Control Services 10:00-10:15AM |
|
| Presenter: |
Brad Rutgers, President/CEO & Adam Wilberding, Dir. Of Loss Control Services
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| Subject: |
VII. ACTUARIAL REPORT - AON
Terry Pfeifer, Senior Consultant 10:15:10:30AM |
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| Presenter: |
Terry Pfeifer, Senior Consultant
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| Subject: |
VIII. BREAK
10:30-10:45AM |
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| Subject: |
IX. POST-AUDIT (2022) SESSION WITH YEO & YEO
(PER AUDITING STANDARDS) Bradley DeVries, Principal & Andrew Walton, Senior Accountant 10:45-11:00AM |
|
| Presenter: |
Bradley M. DeVries, Principal & Andrew Walton, Senior Accountant
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|
| Subject: |
X. MICU WORKERS' COMPENSATION FUND EFFICIENCY STUDY PRESENTATION
Bradley DeVries, Yeo & Yeo & Robert LeFevre, MICU 11:00-11:30AM |
|
| Subject: |
XI. MICU FUND BOARD OF TRUSTEES BUSINESS MEETING
11:30-12:30PM |
|
| Subject: |
XI.A. 2023 FUND YEAR BUSINESS
|
|
| Subject: |
XI.A.1. 2023 Estimated Premium Collections
|
|
| Subject: |
XI.A.1.a. Memo To Board Of Trustees Regarding Status Of 2023 Estimated Premium Collections
|
|
| Subject: |
XI.A.1.b. 2023 Estimated Annual And Quarterly Premium Chart
|
|
| Subject: |
XI.A.2. Second Quarter Fiscal Report For The Period Ending June 30, 2023 And Transmittal Email-Surplus Transfer Recommendation
|
|
| Subject: |
XI.A.2.a. Second Quarter Fiscal Report For The Period Ending June 30, 2023
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|
| Subject: |
XI.A.2.b. Recommendations #2 & 2a.
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| Subject: |
XI.B. 2022 FUND YEAR BUSINESS
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| Subject: |
XI.B.1. 2022 Payroll Audit Premiums
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|
| Subject: |
XI.B.1.a. Memo To Board Of Trustees Regarding Status Of 2022 Payroll Audits
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|
| Subject: |
XI.B.1.b. Refunds Of 2022 Overpayments/Collection Of Add'l Balances Due
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|
| Subject: |
XI.B.1.c. 2022 Excess Reinsurance Premium & Service Fee Payables ($12,795)
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| Subject: |
XI.B.1.d. Recommendation #3
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| Subject: |
XI.B.2. Actuarial Study (12/31/22)
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| Subject: |
XI.B.2.a. Final Actuarial Report (12/31/22)
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| Subject: |
XI.B.2.b. Recommendation #4
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| Subject: |
XI.B.3. 2022 Audit
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| Subject: |
XI.B.3.a. July 21, 2022 Independent Auditor's Report (Draft/Final)
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| Subject: |
XI.B.3.a.1. Recommendation #5
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| Subject: |
XI.B.3.b. Final Audit Report For Financial Statements Ending December 31, 2022 (Draft/Final)
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| Subject: |
XI.B.3.b.1. Recommendation #6
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| Subject: |
XI.B.3.c. Additional MICU Audit Documentation
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| Subject: |
XI.B.3.c.1. Fund Management Letter (TBD) - Recommendation #7
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| Subject: |
XI.B.4. Equity Analysis As Of December 31, 2022 [Post Payroll Audits]
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| Subject: |
XI.B.4.a. Recommendation #8
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| Subject: |
XI.B.5. Preliminary Planning, Projections For Distributions During 2023
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|
| Subject: |
XI.B.5.a. Loss Fund Dividends From Prior Years
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|
| Subject: |
XI.B.5.b. Proposed Declarations (Discussion): At September 15, 2023 Board Business Meeting
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|
| Subject: |
XI.C. FUND OPERATIONS
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|
| Subject: |
XI.C.1. Proposed 2024 Slate Of Nominations For Fund Trustee Officers & Trustee Terms As Presented By The Nominating Committee
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|
| Subject: |
XI.C.1.a. Recommendation #9
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|
| Subject: |
XI.C.2. REMINDER: Next Board Meeting & Annual Membership Meeting-September 15, 2023
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| Subject: |
XII. ADJOURNMENT - 12:30PM
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