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Review of the State of Tennessee Self-Insurance Funds

Issued on  | Posted on  | Report number: A-04-91-00023

Report Materials

EXECUTIVE SUMMARY:

This final report, based upon certain agreed-upon procedures performed by a certified public accounting firm, disclosed that the Claims Award Fund (one of Tennessee's self-insurance funds) had a $27.5 million adjusted fund balance at June 30, 1990 of which 20 percent, or $5.5 million represents the Federal share of the excess reserve balance. We recommended that the State make a financial adjustment of $5.5 million. We also recommended that the ensure that charges to Federal programs are in accordance with OMB Circular A-87 and the Statewide Cost Allocation Plan. Tennessee officials basically concurred with our findings and recommendations.


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