Financial Information

Each year ICRMA prepares a comprehensive budget which reflects the Board’s strategic initiatives. The budget also includes an actuarially determined estimate for loss funding. ICRMA funds the fiscal period with the intent of ensuring sufficient resources are available to pay expected losses as well as to build program surplus in the event of adverse loss development. Member contributions are invested according to adopted policy until necessary for claim and expense payments. Annually an external, independent audit firm performs an audit of ICRMA’s financial statements.