The book Budget Analysis 2001 Biennium 2001 Vol 1 was written by author Montana. Legislative Fiscal Division Here you can read free online of Budget Analysis 2001 Biennium 2001 Vol 1 book, rate and share your impressions in comments. If you don't know what to write, just answer the question: Why is Budget Analysis 2001 Biennium 2001 Vol 1 a good or bad book?
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This amount, determined each year by an actuarial service, is composed of the amount of known claims and an estimate of claims incurred but not reported. In fiscal 1998, the amount of estimated claims payable was $12,825,397; ignoring this amount would have given a fiscal 1998 fund balance of over $7 million. Since the amount represents what the program would have to pay if all prospective claims came due at the same time, an admittedly unlikely event, RMTD personnel feel that "estimated claims... payable" is less useful for budgetary planning than the "consecutive worst losses" figure. If the program faced two consecutive years of losses equal to the losses incurred in the worst year on record, it would pay out $10.8 million in claims over the biennium. The program has included $5.6 million for benefits and claims payments in the budget for the 2001 biennium; consecutive "worst-year losses" would require the program to pay $5.2 million more than is budgeted. To sustain consecutive "worst-year losses", the fund should have a reserve of $5.2 million.
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