DOCSLIB.ORG

Sorta Finance Committee Meeting Tuesday

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Sorta Finance Committee Meeting Tuesday SORTA FINANCE COMMITTEE MEETING TUESDAY, AUGUST 10th, 2021 - 8:30 A.M. SORTA/METRO AT HUNTINGTON CENTER, 23rd FLOOR CONFERENCE ROOM, 525 VINE STREET CINCINNATI, OHIO 45202 General Items: Call to order Pledge of Allegiance 1. Approval of Finance Committee Minutes: July 13th, 2021 Briefing Items 2. Fuel Hedging Report:Q2 (Cindy Resor) 3. Financial Reports for July 31st, 2021 (Cindy Resor) Action Items 4. Investment of Funds Report as of July 31st, 2021 (Cindy Resor) Other Items: New Business Adjournment The next regular meeting of the Finance Committee has been scheduled for September 14th, 2021 at 8:30 a.m. The SORTA Board of Trustees may go into Executive “Closed” Session under the Ohio Open Meetings Act: Section 121.22(G)(1) To consider appointment, employment, dismissal, discipline, promotion, demotion, or compensation of a public employee…; Section 121.22(G)(2) To consider the purchase of property for public purposes….; Section 121.22(G)(3) Conferences with an attorney for the public body concerning disputes involving the public body that are the subject of pending or imminent court action; Section 121.22(G)(4) Preparing for, conducting, or reviewing negotiations or bargaining sessions with public employees…, Section 121.22(G)(5) Matters required to be kept confidential by federal law or regulations or stat statues; Section 121.22(G)(6) Details relative to the security arrangements and emergency response protocols for a public body or a public office; Section 121.22(G)(8) To consider confidential information related to the marketing plans, specific business strategy, production techniques, trade secrets… FINANCE COMMITTEE TUESDAY, JULY 13th, 2021 – 8:30 A.M. COMMITTEE MEMEBERS APPOINTED: Heidi Black (Chair), Rod Hinton (Vice Chair), Allen Freeman, Thaddeus Hoffmeister, Pete McLinden, Chelsea Clark, and Sonja Taylor COMMITTEE/BOARD MEMBERS PRESENT: Alyson Beridon, Heidi Black, Rod Hinton, Blake Ethridge, Kreg Keesee and Sonja Taylor COMMITTEE MEMBERS ABSENT: Chelsea Clark, Allen Freeman, and Thaddeus Hoffmeister STAFF MEMBERS PRESENT: Darryl Haley, Donna Adkins, Pat Giblin, Adriene Hairston, Jennifer Jackson, Brandy Jones, Natalie Krusling, Kathleen McKeon, Matt Niehaus, John Ravasio, Cindy Resor, Shannel Satterfield, Khaled Shammout, Alan Solomon and Mike Weil OTHERS PRESENT: Kim Schaefer (Vorys, Sater, Seymour & Pease, LLP) 1. Call to Order Ms. Black called the meeting to order. 2. Pledge of Allegiance The Pledge of Allegiance was recited. 3. Approval of Minutes of June 8th, 2021 Ms. Black moved and Mr. Hinton seconded that the minutes of the June 8th, 2021 meeting be approved as previously emailed. 4. Internal Audit: Q2 Summer Ms. Adkins presented a summary of internal and external audit findings that had been performed during the years 2018-2021 with management responses to findings on outstanding items for quarter one (1). The Committee accepted the report as presented. 5. Financial Reports for June 30th, 2021 Ms. Resor presented the June financial reports. Total revenues were $12.1 million, which is favorable to budget by $2,511,000. Total expenses were $9.2 million, which is favorable to budget by $442,000 or 4.6%. The estimated sales tax revenue was $ 7,309,000 for the month. Fare revenue was unfavorable to budget by $132,000. Ms. Resor then reviewed the contributing factors to these variances. The Committee accepted the report as presented. 6. Investment of Funds as June 30th, 2021 Ms. Resor presented the report noting the yields for SORTA of 0.11% compared to the prior month of 0.10% for the month of June. Ms. Resor presented the report noting the yields for the Infrastructure Transit Fund of 0.08% compared to the prior month of 0.08% for the month of June. The Committee approved the report as presented. 1 7. New Business The next regular meeting of the Finance Committee has been scheduled for Tuesday, August 10th, 2021 at 8:30 A.M. 8. Adjournment The meeting adjourned at 9:11 A.M. 2 Attachments: Report August 2021 BRIEFING ITEM – DIESEL FUEL HEDGING REPORT – AS OF JUNE 30TH, 2021 STRATEGIC PLAN GOAL / OBJECTIVE • Organizational Sustainability RECOMMENDATION This is a briefing item. No action is required at this time. BUSINESS PURPOSE • SORTA spends approximately 7% of its annual budget on diesel fuel. • In May 2006 by Resolution 2006-21, the SORTA Board approved an Energy Forward Pricing Strategy (EFPS) which authorized staff to hedge SORTA’s fuel supply for up to 18 months in an effort to reduce uncertainty regarding the cost and price risk associated with purchasing diesel fuel to operate the system. • In November 2008 by Resolution 2008-62, the SORTA Board amended the EFPS to authorize hedging up to 90% for 24 months and up to 50% for 25-36 months. • SORTA's Energy Forward Pricing Strategy ("EFPS") was developed to: • Increase probability to remain within approved energy cost budget • Reduce the volatility of energy costs • Achieve a lower overall long-term fuel cost • Achieve time diversification/dollar cost averaging • Apply a dynamic strategy that balances risk and opportunity • • Attached is SORTA’s Diesel Fuel Hedging Report as of June 30th, 2021. SUBMITTED BY: Cindy Resor Interim CFO/Sr. Vice-President, Finance Southwest Ohio Regional Transit Authority Diesel Fuel Hedging Report As of June 30, 2021 Year to Date Total Per Gallon Fuel Purchased $2,240,054 $1.95 Hedging Gains / (Losses) 214,820 $0.19 Net Fuel Cost 2,025,233 $1.76 Budget 2,320,814 $1.86 Variance Favorable / (Unfavorable) $295,581 12.7% Gallons Hedged Average Cost Unrealized Future Hedges: Total Percent per Gallon Gain/(Loss) 2021 1,050,000 70% $1.70 $449,967 2022 2,520,000 87% $1.49 $1,495,691 2023 1,008,000 32% $1.39 $615,258 $2,560,916 Hedging Policy Policy Hedged Prior Qtr Hedged 0 - 24 Months 90% 68% 76% 25 - 36 Months 50% 32% 25% Historical Performance Fuel Realized Purchased Gain / (Loss) Net Budget Variance 2011 9,055,222 $2,597,327 6,457,895 6,180,421 (277,474) 2012 9,372,628 $1,319,310 8,053,318 8,209,351 156,033 2013 9,132,996 $372,338 8,760,658 9,210,597 449,939 2014 8,830,791 ($117,562) 8,948,353 9,345,585 397,232 2015 5,074,405 ($3,021,063) 8,095,468 8,958,919 863,451 2016 4,065,532 ($2,721,152) 6,786,684 7,162,468 375,784 2017 4,915,044 ($1,114,172) 6,029,216 6,213,987 184,771 2018 6,325,084 $845,763 5,479,321 5,229,423 (249,898) 2019 5,534,869 150,141 5,384,728 5,355,630 (29,098) 2020 2,913,009 150,141 2,762,868 5,355,630 2,592,762 YTD 2021 2,240,054 $214,820 2,025,233 2,320,814 295,581 Aggregate: $67,459,633 ($1,324,110) $68,783,743 $73,542,825 $4,759,082 Diesel Fuel for Board Quarterly Format 2021 Jun 8/2/2021 Attachments: Executive Summary Financial Report July 2021 BRIEFING ITEM – MONTHLY FINANCIAL REPORTS – AS OF JULY 31st, 2021 STRATEGIC PLAN GOAL / OBJECTIVE • Operational Excellence RECOMMENDATION This is a briefing item. No action is required at this time. BUSINESS PURPOSE • As part of the monthly closing of the general ledger, the Accounting Department prepares various financial reports. • One of the key reports is the Statement of Revenues and Expenses, also known as an Income Statement. • This report gives summary information about how actual SORTA revenues and expenses in the newly closed month (as well as calendar year-to-date) compare with budgeted and prior year values. • A separate Executive Summary is also prepared to give narrative descriptions behind key favorable and unfavorable actual results compared with budget values. • Attached are Monthly Financial Reports for as of July 31st, 2021. SUBMITTED BY: Cindy Resor Interim CFO/Sr. Vice-President, Finance SOUTHWEST OHIO REGIONAL TRANSIT AUTHORITY Monthly Financial Report Executive Summary July 2021 SORTA’s financial report for the seven months ending July 31, 2021 is attached. • Total Revenue of $13.0 million was favorable to budget by $2,735,000 or 26.7%. • Total Expense of $9.4 million was favorable to budget by $882,000 or 8.6%; • Operating surplus before adjustments was $3,617,000 for the month and $15,650,000 year to date. • Estimated $7,786,000 from the Sales Tax Revenue was recorded for the month. Capital Revenue was recorded to offset the operating surplus in order to build the Capital Reserve. Below is a summary of the most significant factors driving the results for the month: • Fare Revenue: Unfavorable to budget by $(262,000) or (22.1%). Metro fare revenue was unfavorable to budget by $(253,000). The fare box recovery ratio of 11.7%, unfavorable to budget by (1.8%). • CRRSSA: .Unbudgeted Federal Stimulus funds of $2,672,000 were accrued for the month and $10,688,000. • Wages & Benefits: Favorable to budget by $471,000 or 6% primarily driven by favorable bargaining unit wages. • Fuel & Lubricants: Unfavorable $(10,000) or (2.5%) due to unfavorable to budget miles per gallon offset and higher than anticipated miles for the month. • Other: Favorable $417,000 or 33.5% primarily as a result of outsourced services of $223,000, external advertising costs of $50,000 and leases & rentals of $29,000. Southwest Ohio Regional Transit Authority 2021 Profit & Loss Statement 7 Mos Ending Jul 31, 2021 Month Year to Date ($ In Thousands) Actual Budget Fav(Unfav) Actual Budget Fav(Unfav) Forecast Fav(Unfav) Ridership Fixed Route 583,693 801,577 (217,884) (27.2%) 3,633,428 4,442,537 (809,109) (18.2%) 3,628,323 5,105 0.1% CPS 1,848 3,026 (1,178) (38.9%) 244,288 802,800 (558,512) (69.6%) 243,637 651 0.3% Access 11,703 13,498 (1,795) (13.3%) 67,253 81,190 (13,937) (17.2%) 67,574 (321) (0.5%) Total Ridership 597,244 818,101 (220,857) (27.0%) 3,944,969 5,326,527
Load more

Recommended publications
  • Public Notices & the Courts
    PUBLIC NOTICES B1 DAILY BUSINESS REVIEW TUESDAY, SEPTEMBER 28, 2021 dailybusinessreview.com & THE COURTS BROWARD PUBLIC NOTICES BUSINESS LEADS THE COURTS WEB SEARCH FORECLOSURE NOTICES: Notices of Action, NEW CASES FILED: US District Court, circuit court, EMERGENCY JUDGES: Listing of emergency judges Search our extensive database of public notices for Notices of Sale, Tax Deeds B5 family civil and probate cases B2 on duty at night and on weekends in civil, probate, FREE. Search for past, present and future notices in criminal, juvenile circuit and county courts. Also duty Miami-Dade, Broward and Palm Beach. SALES: Auto, warehouse items and other BUSINESS TAX RECEIPTS (OCCUPATIONAL Magistrate and Federal Court Judges B14 properties for sale B8 LICENSES): Names, addresses, phone numbers Simply visit: CALENDARS: Suspensions in Miami-Dade, Broward, FICTITIOUS NAMES: Notices of intent and type of business of those who have received https://www.law.com/dailybusinessreview/public-notices/ and Palm Beach. Confirmation of judges’ daily motion to register business licenses B3 calendars in Miami-Dade B14 To search foreclosure sales by sale date visit: MARRIAGE LICENSES: Name, date of birth and city FAMILY MATTERS: Marriage dissolutions, adoptions, https://www.law.com/dailybusinessreview/foreclosures/ DIRECTORIES: Addresses, telephone numbers, and termination of parental rights B8 of those issued marriage licenses B3 names, and contact information for circuit and CREDIT INFORMATION: Liens filed against PROBATE NOTICES: Notices to Creditors, county
    [Show full text]
  • Honor Roll 2010
    College of Saint BenediCt Honor roll 2010 July 1, 2009 through June 30, 2010 1 The first Earth Day was forty years ago in ago. Now, nearly 700 colleague presidents have risen to the challenge. Our feet 1970. I saw rallies in Philadelphia denouncing will be held to the fire (hopefully not one burning fossil fuels) as we attempt to corporations and government for sustain colleges that someday consume no more energy than they produce. encouraging policies that created pollution, and I experienced the teach-ins that were Of course, this is nothing new in the Benedictine world. Sustainability is a mostly about the plight of the environment. theme in monasteries that have thrived since St. Benedict founded the order It was an energizing day. But how could and wrote the Rule more than 1,500 years ago. In fact, a key value Benedic- we imagine 40 years would pass before tines live by is to listen, focus on the long run, and adjust behaviors so we can we would fully understand the scope of our do better over time. environmental negligence? At Saint Ben’s, the definition of sustainability surpasses its environmental roots. My first direct participation in Earth Day was In addition to the environmental focus, this Annual Report takes into consider- in 1971. We were into beautifying our im- ation the sustainability of College of Saint Benedict as a whole -- the sustain- mediate environment. We gathered litter on ability of our nationally recognized academic experience, and our financial our high school campus and renovated and strength and stability.
    [Show full text]
  • Maryland Casualty Producer State and General Sections Series 20-07 & 20-08 80 Scored Questions (Plus 10 Unscored)
    Maryland Casualty Producer State and General Sections Series 20-07 & 20-08 80 scored questions (plus 10 unscored) Casualty Producer State Section Series 20-08 35 questions- 45-minute time limit 1.0 Insurance Regulation 1.1 Licensing 17% (5 items) Purpose Process (Insurance Article Annotated Code- Sec. 10-115; Sec.10-116; Sec. 10-104) Initial Licensure Qualifications Examination License fee & application Exemptions to Licensure Types of licensees Producers Business entity producers Nonresident producers Temporary Advisers Public insurance adjusters Limited Lines Producer Portable Electronics Insurance Limited Lines license Maintenance and duration (Insurance Article Annotated Code- Sec. 10-116; Sec. 10-117(b)(1)) Reinstatement and renewal Address change Reporting of actions Assumed names Continuing education requirements, exemptions and penalties Disciplinary actions Cease and desist order Hearings Probation, suspension, revocation, refusal to issue or renew Penalties and fines 1.2 State regulation 17% (5 items) Commissioner's general duties and powers (Insurance Article Annotated Code-Sec. 2-205 (a)(2)) State Specific Definitions (Insurance Article Annotated Code- Sec. 10-401; Sec. 27-209; Sec. 27-213; Sec. 10-201; Sec 10-126; Ref: COMAR Sec. 31.08.06.02) Company regulation Certificate of authority Solvency Rates Policy forms Examination of books and records Producer appointments Producer's Contract with Insurer versus Producer's Appointment with Insurer 1 Producer's Individual Appointment versus Business Entity Appointment Maintaining Record of Appointment Notice Termination of producer appointment Producer regulation (Insurance Article Annotated Code-Sec. 27-212(d)) Examination of Books and Records Insurance Information and Privacy Protection Fiduciary Responsibilities (COMAR- Sec. 31.03.03) Bail Bond (COMAR- Sec.
    [Show full text]
  • American War and Military Operations Casualties: Lists and Statistics
    American War and Military Operations Casualties: Lists and Statistics Updated July 29, 2020 Congressional Research Service https://crsreports.congress.gov RL32492 American War and Military Operations Casualties: Lists and Statistics Summary This report provides U.S. war casualty statistics. It includes data tables containing the number of casualties among American military personnel who served in principal wars and combat operations from 1775 to the present. It also includes data on those wounded in action and information such as race and ethnicity, gender, branch of service, and cause of death. The tables are compiled from various Department of Defense (DOD) sources. Wars covered include the Revolutionary War, the War of 1812, the Mexican War, the Civil War, the Spanish-American War, World War I, World War II, the Korean War, the Vietnam Conflict, and the Persian Gulf War. Military operations covered include the Iranian Hostage Rescue Mission; Lebanon Peacekeeping; Urgent Fury in Grenada; Just Cause in Panama; Desert Shield and Desert Storm; Restore Hope in Somalia; Uphold Democracy in Haiti; Operation Enduring Freedom (OEF); Operation Iraqi Freedom (OIF); Operation New Dawn (OND); Operation Inherent Resolve (OIR); and Operation Freedom’s Sentinel (OFS). Starting with the Korean War and the more recent conflicts, this report includes additional detailed information on types of casualties and, when available, demographics. It also cites a number of resources for further information, including sources of historical statistics on active duty military deaths, published lists of military personnel killed in combat actions, data on demographic indicators among U.S. military personnel, related websites, and relevant CRS reports. Congressional Research Service American War and Military Operations Casualties: Lists and Statistics Contents Introduction ....................................................................................................................................
    [Show full text]
  • MASS CASUALTY TRAUMA TRIAGE PARADIGMS and PITFALLS July 2019
    1 Mass Casualty Trauma Triage - Paradigms and Pitfalls EXECUTIVE SUMMARY Emergency medical services (EMS) providers arrive on the scene of a mass casualty incident (MCI) and implement triage, moving green patients to a single area and grouping red and yellow patients using triage tape or tags. Patients are then transported to local hospitals according to their priority group. Tagged patients arrive at the hospital and are assessed and treated according to their priority. Though this triage process may not exactly describe your agency’s system, this traditional approach to MCIs is the model that has been used to train American EMS As a nation, we’ve got a lot providers for decades. Unfortunately—especially in of trailers with backboards mass violence incidents involving patients with time- and colored tape out there critical injuries and ongoing threats to responders and patients—this model may not be feasible and may result and that’s not what the focus in mis-triage and avoidable, outcome-altering delays of mass casualty response is in care. Further, many hospitals have not trained or about anymore. exercised triage or re-triage of exceedingly large numbers of patients, nor practiced a formalized secondary triage Dr. Edward Racht process that prioritizes patients for operative intervention American Medical Response or transfer to other facilities. The focus of this paper is to alert EMS medical directors and EMS systems planners and hospital emergency planners to key differences between “conventional” MCIs and mass violence events when: • the scene is dynamic, • the number of patients far exceeds usual resources; and • usual triage and treatment paradigms may fail.
    [Show full text]
  • Allocation of Scarce Resources During Mass Casualty Events
    Evidence Report/Technology Assessment Number 207 Allocation of Scarce Resources During Mass Casualty Events Agency for Healthcare Research and Quality Evidence-Based Practice Advancing Excellence in Health Care • www.ahrq.gov Evidence Report/Technology Assessment Number 207 Allocation of Scarce Resources During Mass Casualty Events Prepared for: Agency for Healthcare Research and Quality U.S. Department of Health and Human Services 540 Gaither Road Rockville, MD 20850 www.ahrq.gov Contract No. 290-2007-10062-I Prepared by: Southern California Evidence-based Practice Center Santa Monica, CA Investigators: Justin W. Timbie, Ph.D., RAND Corporation Jeanne S. Ringel, Ph.D., RAND Corporation D. Steven Fox, M.D., M.S., RAND Corporation Daniel A. Waxman, M.D., RAND Corporation Francesca Pillemer, Ph.D., RAND/University of Pittsburgh Christine Carey, M.A., RAND Corporation Melinda Moore M.D., M.P.H., RAND Corporation Veena Karir, PharmD., M.S., RAND/University of Pittsburgh Tiffani J. Johnson, M.D., RAND/University of Pittsburgh, Children’s Hospital of Pittsburgh Neema Iyer, M.P.H., RAND Corporation Jianhui Hu, M.P.P., RAND Corporation Roberta Shanman, M.L.S., RAND Corporation Jody Wozar Larkin, M.L.I.S., RAND Corporation Martha Timmer, M.S., RAND Corporation Aneesa Motala, B.A., RAND Corporation Tanja R. Perry, B.H.M., RAND Corporation Sydne Newberry, Ph.D., RAND Corporation Arthur L. Kellermann, M.D., M.P.H., RAND Corporation AHRQ Publication No. 12-E006-EF June 2012 This report is based on research conducted by the Southern California–RAND Evidence-based Practice Center (EPC) under contract to the Agency for Healthcare Research and Quality (AHRQ), Rockville, Md.
    [Show full text]
  • 1 Florida Legislature 2022
    FLORIDA LEGISLATURE 09/25/2021 16:15:16 2022 - REGULAR SESSION HISTORY OF SENATE BILLS SB 50 SB 60 CLAIMS/GENERAL by Jones (Identical HB 6505) CLAIMS/GENERAL by Cruz Relief of Leonard Cure by the State of Florida; Providing for the relief of Relief of the Estate of Molly Parker/Department of Transportation; Providing Leonard Cure; providing an appropriation to compensate him for being for the relief of the Estate of Molly Parker; providing an appropriation to wrongfully incarcerated for 16 years; directing the Chief Financial Officer to compensate the Estate of Molly Parker for Ms. Parker’s death, sustained as draw a warrant payable directly to Mr. Cure; requiring the Chief Financial result of the negligence of the Department of Transportation; providing a Officer to pay the directed funds without requiring that Mr. Cure sign a liability limitation on compensation and the payment of attorney fees, etc. Claim with release; providing for the waiver of certain tuition and fees for Mr. Cure; appropriation: Indeterminate. Effective Date: 07/01/2022. prohibiting funds awarded under this act to Mr. Cure from being used or paid 08/02/21 SENATE Filed for attorney or lobbying fees, etc. Claim with appropriation: $817,000. Effective 09/21/21 SENATE Referred to Special Master on Claim Bills; Judiciary; Date: Upon becoming a law. Appropriations Subcommittee on Transportation, 08/02/21 SENATE Filed Tourism, and Economic Development; Appropriations 09/21/21 SENATE Referred to Special Master on Claim Bills; Judiciary; SB 62 Appropriations Subcommittee
    [Show full text]
  • Annual Report 2019
    2020 Newsletter & 2019 Annual Report © 2018 The Andy Warhol Foundation for the Visual Arts / Artists Rights Society (ARS), New York / Ronald Feldman Gallery, New York New Gallery, Feldman / Ronald York New Rights Society (ARS), Artists / Arts Visual for the Foundation Warhol Andy The © 2018 Santa Fe Conservation Trust Earns National Recognition The Santa Fe Conservation Trust is proud to announce that it has renewed its land trust accreditation with the Land Trust Alliance – proving once again that it is committed to profes- sional excellence and to maintaining the public’s trust in its Board of Directors conservation work. as of January 1, 2020 As an accredited land trust, SFCT must renew every five Joanna Prukop, Board Chair years, confirming our compliance with national quality stan- Nancy Cook, Vice Chair dards and providing continued assurance to donors and George Strickland, Treasurer landowners of our commitment to care forever for their land Brant Goodman, Secretary Peter Martin, At-Large and easements. Every aspect of our work is scrutinized, from Michael Avery Jackson Blagden our internal policies and procedures, to our fundraising, to Marianne Dwight David Fleischaker our conservation work. It means that SFCT has the strength Clayton Jernigan Sandra Massengill and integrity to be here for the long haul to provide the best Julie Martinez, MD Al Reed Dennis Romero Quinn Simons services to all our constituents. Whether you are a donor, a Justin Svetnicka landowner or an organizational partner, you can be assured that SFCT is a well-run organization, here to improve your Committee Members quality of life through our work.
    [Show full text]
  • Casualty Accumulation It Is Bigger Than You Might Think!
    Casualty accumulation It is bigger than you might think! “Industry capital models challenge insurance and reinsurance companies to put in place sophisticated property catastrophe risk management systems and controls and to provide stronger capitalisation to support the risk. However, casualty catastrophe risk could surpass property risk for many companies.” AM Best Special Report December 2016 (Click for link) “Industry capital models challenge Insurance portfolios are exposed to different forms insurance and reinsurance companies of accumulation risk. to put in place sophisticated property catastrophe risk management systems and controls and to provide stronger capitalisation to support the risk. Classic clash Serial aggregation Business disaster Systemic failure A variety of claims that follow a A defect in the design or Multiple losses occurring as a A repeatable process, However, casualty catastrophe risk sudden event or occurrence, manufacture of a product that result of a single failure or the procedure or business practice such as general liability, employer’s triggers multiple losses which disclosure of incorrect, misleading resulting in a series of losses. liability and professional are all linked to the initial defect. advice or information. indemnity claims arising from could surpass property risk for many a building collapse. Insurance companies are exposed to a wide range of casualty accumulation companies.” scenarios, ranging from sudden and accidental events to systemic risk. AM Best Special Report December 2016 (Click for link) Casualty accumulation carries different threats to insurance In the event of a large liability catastrophe, the following threats are considered to be the main dangers for insurance companies. The impact may differ depending on the given threat.
    [Show full text]
  • Amicus Brief Filed on Behalf of United Policyholders
    IN THE SUPREME COURT OF THE STATE OF MISSISSIPPI MARGARET AND DR. MAGRUDER S. CORBAN PETITIONERS VERSUS NO. 2008-M-645 UNITED SERVICES AUTOMOBILE ASSOCIATION a/k/a USAA INSURANCE AGENCY DEFENDANT AMICUS CURIAE BRIEF OF UNITED POLICYHOLDERS IN SUPPORT OF THE POSITION OF PETITIONERS ON INTERLOCUTORY APPEAL FROM THE CIRCUIT COURT OF HARRISON COUNTY, MISSISSIPPI, FIRST JUDICIAL DISTRICT CIVIL ACTION NO. A2401-06-404 WILLIAM F. MERLIN, JR., (MSB# 102390) MARY E. KESTENBAUM, MERLIN LAW GROUP, P.A. 777 SOUTH HARBOUR ISLAND BLVD. SUITE 950 TAMPA, FLORIDA 33602 TEL: (813) 229-1000 FAX: (813) 229-3692 AMY BACH UNITED POLICYHOLDERS 222 COLUMBUS AVENUE, STE. 412 SAN FRANCISCO, CA 94133 TEL: (415) 393-9990 TABLE OF CONTENTS TABLE OF AUTHORITIES..................................................... ...............iii - iv ARGUMENT .................................................................................... 1-14 CONCLUSION... ... .. .... .. .... .... ... .. ....... ... ... ... .. .... ..... ... .. ..... ..... .. ... ..... ..14 CERTIFICATE OF SERVICE.......................................................... 14,15,16 APPENDIX "A" Roby Harrington, Multiple Peril Packages, 107-108 (Insurance World 1957) "B" Fema, http://ww.fema.gov/pdf/nfip/dp126.pdf 11 T ABLE OF AUTHORITIES Boteler v. State Farm Cas. Ins. Co., 876 So.2d 1067 (Miss. Ct. App. 2004)...... ...........2 Broussard v. State Farm Fire & Cas Co., 2008 U.S. App. LEXIS 7419 (5th Cir. Apr. 7,2008)................... ............. 7,8 Dickinson v. Nationwide Mut. Fire Ins. Co., 2008 U.S. Dist. LEXIS 31153, (S.D. Miss. Apr. 4, 2008)............................ 12 Dickinson v. Nationwide Mut. Fire Ins. Co., 2008 U.S. Dist. LEXIS 34354 (April 25, 2008)...................... .............. ........12, 13 Leonard v. Nationwide Mut. Ins. Co., 438 F.Supp. 2d 684 (S.D. Miss. 2006).................................. ......6, 7, 10, 11 Leonardv. Nationwide Mut. Ins. Co., 499 F.3d 419 (5th Cir.
    [Show full text]
  • CV 0019 District Civil Family Docket Book.Rdl
    CIVIL SETTINGS FOR DISTRICT COURT ON Monday, October 04, 2021, 09:00 AM JURY CIVIL SETTINGS FOR DISTRICT COURT ON Monday, October 04, 2021, 09:00 AM JURY 1 D-1-AG-11-002097 TEXAS DEPARTMENT OF FAMILY AND PROTECTIVE SERVICES vs. SAVANNAH LEE ANNAS 5.00 Days Set By PLAINTIFF JURY 1 Atty PAUL HILL 1 Atty ROBYNN FLETCHER 1 Atty KAREEM MCCULLEY 2 Atty ELIZABETH SCHWARTZ 2 D-1-FM-19-006668 TEXAS DEPARTMENT OF FAMILY AND PROTECTIVE SERVICES vs. SAVANNAH LEE ANNAS 5.00 Days Set By PLAINTIFF JURY 1 Atty PAUL HILL 1 Atty ROBYNN FLETCHER 1 Atty KAREEM MCCULLEY 2 Atty COLIN GAFFNEY 3 D-1-GN-20-000222 JUAN WONG vs. JESUS DIAZ 5.00 Days Set By PLAINTIFF JURY 1 Atty CARL BROOKS SCHUELKE 1 Atty JOSEPH MATTHEW CROSS 2 Atty CARL BROOKS SCHUELKE 2 Atty JOSEPH MATTHEW CROSS 3 Atty ADAM WYMA 4 D-1-GN-20-002895 MICHAEL CONNELL vs. SUNGJUN YOON 3.00 Days Set By DEFENDANT JURY 1 Atty MICHAEL BURKE 1 Atty CATHERINE MARSOLAN 1 Atty PRINCESS CAMPOS 1 Atty CASSANDRA CORREA 5 D-1-GN-18-000196 JUAN URQUIZA vs. ANDREW FAUD DUNA 4.00 Days Set By PLAINTIFF JURY 1 Atty ANDREW SAUL TRAUB 1 Atty MICAH WILLIAMS 6 D-1-GN-18-003355 CARLOS CAMPOS vs. CAPITAL PUMPING LP 5.00 Days Set By PLAINTIFF JURY 1 Atty ROBERT MICHAEL MELENDEZ 1 Atty MICHAEL KIRKLAND 2 Atty ROBERT MICHAEL MELENDEZ 2 Atty MICHAEL KIRKLAND 3 Atty CHARLES JOSEPH CAIN 8 D-1-GN-20-000030 JIMMY ORNELAS vs.
    [Show full text]
  • IRS Publication 547: Casualty, Disasters, and Theft Losses
    Userid: CPM Schema: tipx Leadpct: 98% Pt. size: 8 Draft Ok to Print AH XSL/XML Fileid: … tions/P547/2020/E/XML/Cycle08/source (Init. & Date) _______ Page 1 of 23 13:46 - 15-Mar-2021 The type and rule above prints on all proofs including departmental reproduction proofs. MUST be removed before printing. Publication 547 Cat. No. 15090K Contents What’s New .................. 1 Department of the Casualties, Reminders ................... 1 Treasury Internal Introduction .................. 2 Revenue Disasters, Service Casualty .................... 3 and Thefts Theft ....................... 5 Loss on Deposits ............... 5 For use in preparing Proof of Loss ................. 6 Figuring a Loss ................ 6 Returns 2020 Deduction Limits .............. 10 Figuring a Gain ............... 13 When To Report Gains and Losses ... 16 Disaster Area Losses ........... 16 How To Report Gains and Losses .... 20 How To Get Tax Help ........... 20 Index ..................... 22 What’s New Declaration numbers. A new entry space has been added to Form 4684 for taxpayers who are reporting a casualty or theft loss attributable to a federally declared disaster. For more infor- mation, see FEMA disaster declaration num- bers, later, and the Instructions for Form 4684. Qualified disaster loss. A qualified disaster loss is now expanded to include an individual's casualty and theft loss of personal-use property that is attributable to a major disaster that was declared by Presidential Declaration that is dated between January 1, 2020, and February 25, 2021 (inclusive). However, in order to qual- ify under this expansion, the major disaster must have an incident period beginning be- tween December 28, 2019, and December 27, 2020 (inclusive). Further, the major disaster must have an incident period ending no later than January 26, 2021.
    [Show full text]