Published: December 04, 2008 10:01 am            

WISD receives $147,738 excess contribution refund from Public Workers' Compensation Program

WEATHERFORD — Dr. Randy Burks, assistant superintendent for business and operations at Weatherford ISD, reported that the district recently received $147,738 in an excess contribution refund from the Public Workers’ Compensation Program, a public entity risk pool administered by the Marble Falls firm of Edwards Risk Management, Inc.

An excess contribution refund is similar to a dividend payout in a private, according to a press release from PWCP. It is made possible by the financial success of the risk pool in lowering the cost of risk associated with workers’ compensation losses.

The PWCP, which originated in 1992 by a group of public school districts seeking to reduce costs through the sharing of workers’ compensation risks, has a history of success in returning educational dollars back to its member school districts through programs and incentives involving safety training, wellness, and other loss-control measures.

Since its inception in 1992, the program has returned more than $4 million to its participating districts as a result of reduced workers’ compensation costs.

Weatherford ISD’s refund was part of a total $1 million refund approved by the governing board from earlier this year.

        

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