44-505e. Schools, area vocational-technical schools and community colleges as self-insurer; establishment of reserve fund; retransfers.
44-505e
44-505e. Schools, area vocational-technical schools and community collegesas self-insurer; establishment of reserve fund; retransfers.A school district, area vocational-technical school or community juniorcollege may act as a self-insurer under the workmen's compensation act.If a school district, area vocational-technical school or communityjunior college elects to act as a self-insurer under that act, theschool district, area vocational-technical school or community juniorcollege shall establish a separate fund to be known as the "schoolworkers' compensation reserve fund" for the payment of workmen's compensationclaims, judgments and expenses. Any school district or communityjunior college may transfer moneys from its general fund and any areavocational-technical school may transfer moneys from its operating fundto the school workers' compensation reserve fund as authorized by law. The balanceremaining in the reserve fund at the end of the fiscal year shall be carriedforward into the reserve fund for succeeding years. Such fund shall notbe subject to the provisions of K.S.A. 79-2925 to 79-2937, inclusive, andacts amendatory thereof and supplemental thereto, except that in makingthe budget, the amounts credited to and the amount on hand in such reservefund, and the amount expended therefrom, shall be included in the annualbudget for the information of the residents. Interest earned on the investmentof moneys in such fund shall be credited to such fund. Paymentsfrom said school workers' compensation reserve fund may be made to agents forthe school district who have contracted to service and administer all ora portion of the school district's workers' compensation program.
If the school district, area vocational-technical school or community juniorcollege shall determine on an actuarial basis that money which has beencredited to such fund, or any part thereof, is no longer needed for thepurposes for which it was established, the school district, area vocational-technicalschool or community junior college may transfer such amount not needed tothe funds or accounts from which the money was received. Any money so transferredshall be budgeted in accordance with the provisions of K.S.A. 79-2925 to79-2937, inclusive, and acts amendatory thereof or supplemental thereto.
History: L. 1977, ch. 180, § 3; L. 1980, ch. 145, § 4; July 1.