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Current through October 23, 2012
(a) For the purposes of this section, the term:
(1) "Actual losses sustained" means actual claims, judgements, or settlements paid by the District of Columbia government.
(2) "Administrative costs of risk management" means the actual cost of operating a risk management program.
(3) "Cost of funding losses" means the total cost incurred by the District of Columbia government on an annual basis for funding losses.
(4) "Cost of risk" means the costs of actual losses sustained, administrative costs of the risk management program, costs of funding losses, cost of risk control efforts and other outside service costs.
(5) "Outside service costs" means all funds expended by the District of Columbia government to external entities involved in risk management activities.
(6) "Risk management" means the process of making and implementing decisions to systematically preserve the physical, human, and financial resources of organizations, with the goals of minimizing the adverse effects of accidental losses on organizations and clarifying an organization's understanding of its exposure to risks, including loss of, or damage to, property; liability loss; interrupted revenue; and loss of personnel resources.
(b) On or before February 1 of each year, the Office of the City Administrator, or any successor agency which shall perform its risk management functions, shall provide a report to the Council delineating the savings realized by the District of Columbia as a result of implementing risk management plans and strategies. The report shall:
(1) Be prepared on an agency-by-agency basis;
(2) State the itemized cost of risk in the prior fiscal year;
(3) State the changes in the total cost of risk realized in the prior fiscal year resulting from implementing risk management plans compared to the cost of risk in both the next preceding fiscal year and the baseline fiscal year 2004 (comparative cost of risk information for fiscal years 2002 and 2003 shall be used to the extent that is available); and
(4) Include all data, on an agency-by-agency basis, reported to the City Administrator by agencies on the Risk Management Council addressing risk within agencies and plans implemented to control those risks.
(Nov. 13, 2003, D.C. Law 15-39, § 2004, 50 DCR 5668.)
HISTORICAL AND STATUTORY NOTES
Emergency Act Amendments
For temporary (90 day) addition, see §§ 4 and 5 of Disability Compensation Program Transfer and Risk Management Emergency Amendment Act of 2003 (D.C. Act 15-88, May 19, 2003, 50 DCR 4330).
For temporary (90 day) addition, see §§ 4 and 5 of Disability Compensation Program Transfer and Risk Management Congressional Review Emergency Amendment Act of 2003 (D.C. Act 15-128, July 29, 2003, 50 DCR 6836).
For temporary (90 day) addition, see §§ 4 and 5 of Disability Compensation Program Transfer and Risk Management Second Congressional Review Emergency Amendment Act of 2003 (D.C. Act 15-172, October 6, 2003, 50 DCR 9173).
Legislative History of Laws
For Law 15-39, see notes following § 2-311.03.
Miscellaneous Notes
Section 2005 of Law 15-39 provides:
"Limitation on number of full-time equivalent employees in fiscal year 2004.
"In the performance of its risk management functions, the Office of the City Administrator, or any successor agency, which shall perform such functions shall not employ more than 23 full-time equivalent employees during fiscal year 2004; provided, that if funds become available, new positions created shall be filled first in the Disability Compensation Claims Bureau Unit (3 positions) and Risk Identification and Analysis Division (one position) as funds become available. For the purpose of this section, the term 'risk management' shall have the same meaning as in section 2004(a)(2)."
