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A. The Board shall:

1. Administer the trust fund pursuant to this chapter and the trust agreement.

2. Provide financial oversight of the trust fund by evaluating liabilities, other expenses and reserve amounts.

3. Review quarterly the trust fund to ensure adequate funds exist to pay outstanding and future claims, claim costs and risk management costs.

4. Comply with all requirements of State and Federal laws relating to self-insurance programs for the management and administration of the trust.

5. Meet at least four times a year, or more frequently as the Chair of the Board deems necessary, or upon the request of the City Manager.

B. The Board may:

1. Adopt rules or policies for the operation of the Board, which are not inconsistent with this chapter, Federal law, Arizona laws, the City Charter or any City ordinances or administrative regulations.

2. Appoint committees.

3. Request Finance Department staff or hire independent consultants to perform assignments necessary for the administration of the trust fund. (Ord. No. G-5618, 2011)