(1) All joint self-insurance programs shall maintain a written plan for managing the financial resources of the program. The financial plan shall include:
- (a) A procedure for accounting for moneys received, payments made and liabilities of the joint program which complies with generally accepted accounting principles;
- (b) An investment policy governing the investments of the program which conforms to the legal requirements applicable to local government members; and
- (c) The submission of required documents and audited financial statements to the state risk manager within one hundred twenty days of the program's fiscal year end.
- (2) No financial plan of a joint self-insurance program shall permit any loans from primary assets held for payment of unpaid claims at the expected level as determined by an actuary as of fiscal year end.
[Statutory Authority: RCW 48.190.040 and 43.19.011. WSR 18-09-086, § 200-160-180, filed 4/17/18, effective 5/18/18.]