As Ventura County Schools Self-Funding Authority (VCSSFA) enters its 29^th program year the goals remain as they did in 1982: Provide stable risk financing programs and valued risk services in support of members’ efforts to sustain a safe and secure environment for students, staff, and members of the public.

In response to successive years of significant reductions in State funding to public education the VCSSFA, your member owned and member driven Joint Powers Authority (JPA), is able to respond by maintaining current FY 2010/11 funding rates, coverage terms and limits for the July 2011 renewal.

Recapping notable FY 2010/11 events:

• Dividends were declared from both the Property and Liability programs. The totals are:
  • Property $1,050,000
  • Liability $1,438,000
• A Loss Portfolio Transfer of workers’ compensation claims for years 1978/79 through 1994/95 resulted in a net cash position for these years of approximately $1.5 million. The Board approved the surplus as dividend and should be ready for distribution in July 2011.
• Revision to VCSSFA Bylaws and Policies & Procedures.

 Projects of note for 2011/12 are:

• Study and propose revisions to the Loss Experience Modifier methodologies for both the Liability and Worker’s Compensation programs. Results to be presented to Executive Committee and Board for review and consideration at their October meetings. 
• Continued review of program fund balances and determination of dividends based on the VCSSFA Dividend and Equity Target policies.

The ability of a JPA to tailor coverage, stabilize rates, terms, conditions, and maintain exemplary program services evidences the value and economies achieved by pooling the interests of its members. The VCSSFA’s continued success is derived from the synergy of effort by dedicated and supportive members, engaged and participating board members, staff, claims administrators, broker, and defense counsel.