Logan County Fiscal Court received a $9,320 dividend check from the Kentucky Association of Counties (KAOC) last week.
David Clark and Robert Brown came to Tuesday’s regular fiscal court meeting to present the check.
The check represents a dividend payment to the County from the KACo Workers Compensation Fund, which provides workers compensation insurance coverage to county governments and other political subdivisions across Kentucky. KACo insures 113 of Kentucky’s 120 counties through the Workers Compensation Fund.
Logan County also received, in 2010, a dividend payment of $11,119 from the KACo All Lines Fund (KALF) which provides property and liability insurance. In the past two years, as a member of the KACo insurance programs, the Fiscal Court has received $20,439 in dividend payments.
“The dividend is possible because county governments in Kentucky are working together through KACo to effectively manage their insurance programs,” said Mark Miller, director of insurance for KACo. “By working together fiscal courts are able to lower premium payments and save Kentucky taxpayers money.”
KACo Executive Director Denny Nunnelley complimented both the KACo staff and the insurance agents of the Workers Compensation Fund. “We have a dedicated team in place that works hard with the counties to make this insurance program work. This dividend is no surprise and illustrates how KACo will continue to serve Kentucky’s counties effectively in the years ahead.”
Brown told the court the county was coming off the five year rate guarantee, but was glad to report the increase will be small at about one percent, which is a good testament to the county. He told the magistrates if they chose to they could use part of the dividend check to pay that increase and still have about $6,ooo left to do what they wished to do. “When the programs do well, you all do well,” said Brown to the court.
Judge/Executive Logan Chick said he appreciates all that KACo does for the counties.
“KACo is owned by the county governments and are a huge benefit,” said Chick, adding the funds will be used in part to pay the increase with the rest going towards the general budget.