HomeMy WebLinkAbout1973 Resolution No. 04584
RESOLUTION NO. ~, SERIES OF 1973
A RESOLUTION ADOPTING A RISK MANAGEMENT POLICY FOR THE CITY OF
ENGLEWOOD, COLORADO
The City or Englewood is to be protected against fortuitous loss or losses
which, in the aggregate, during any financial period, would significantly affect City
personnel , property, its budget, or the ability of the City to continue to fulfill
its role in tie community. In no event shall any loss of life or major personal injury
to an employee or members of the public be acceptable to the City.
City will apply to risks of fortuitous loss the risk management process
which .includes a systematic and continuous identification of loss exposure, with analysis
or these exposures in terms of frequency and severity probability, the application of
sound rlsk control procedures, and the financing o~ risk consistent with City financial
resources.
n r e co~n1t1on of 1 ts fi n an cial resources and the spread of its physical assets,
the Ci ty will a ccept retention of un i nsured losses not to exceed $7,500 for all losses
ar1s1ng out or a single e v e nt or occurrence, and not to exceed $75,000 for all retained
l on nrn 1n thr n~~rr~ntr d 11r1 n~ nny r1~c~l Y P~r.
The objective of the risk mana g ement function within the City is to keep to a
rudent minimum the cost of managing risk, defined as the sum or risk controlled costs,
lost costs under self-.in s urance programs, insurance premium costs, and the cost of risk
manav..cmcnt.. adml nJ :;t,ratlou .
'fh e a<.lm ln1strat.lon of t he City's 1•isk manag e ment.. program will b e under the
direction of the Direc tor of Finance.
ADOPTED AND APPROVED this 15th day of October, 1973.
c:t;t! r-~· ;> ... ~
Mayor
ATTEST :
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I , Karl No llenberger, ex officio City Clerk-Treasurer of the City of Englewood,
Colorado , do hereby certify that the above and foregoing is a true, accurate and complete
copy or Resoiution No. 45, Series of 1973.
~~~~~~~-----ex officio City---CTerk
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