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Fillmore SWCD receives dividend from Minnesota counties intergovernmental trust

Fri, Nov 22nd, 2013
Posted in Preston Business Announcements

Preston, Minn. – The Fillmore Soil and Water Conservation District (SWCD) recently received a dividend check in the amount of $4,959.00 from Minnesota Counties Intergovernmental Trust (MCIT). MCIT is a member service organization that provides 81 of Minnesota’s counties and associated entities with property, casualty and workers’ compensation coverage, as well as risk management and loss control services designed for public entities. Fillmore SWCD’s decision to join MCIT has resulted in significant cost savings to taxpayers over the year.

MCIT’s decision to issue a dividend is based on a comprehensive review of the Trust’s reserving and rate level strategies, the performance of its investment portfolio, operational expenses, and claim history. The efforts of the Fillmore SWCD to manage situations that expose it to loss had a positive impact on the performance of MCIT and contributed to the ability of MCIT to return a dividend this year.

The total dividend that MCIT distributed to members in 2013 is $19 million: $7 million from the Workers’ Compensation Division and $12 million from the Property/Casualty Division. The Fillmore SWCD received $3,843.00 from the Property/Casualty Division and $1,116.00 from the Workers’ Compensation Division this year.

Since 1991 MCIT has returned more than $274 million of fund balance to members.

According to MCIT Board Chair Scott Sanders, Watonwan County commissioner, “The 2013 dividend demonstrates the benefits of pooling, members’ dedication to managing risk and the reward of Fillmore SWCD’s continued participation in the Trust”.

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