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Fillmore SWCD to receive dividend from Minnesota Counties Intergovernmental Trust

Fri, Aug 8th, 2014
Posted in All The Great Outdoors

PRESTON, Minn. - Fillmore Soil and Water Conservation District (SWCD) will receive a dividend in the amount of $3,234 from Minnesota Counties Intergovernmental Trust (MCIT) in November. MCIT is a member service organization that provides 81 of Minnesota’s 87 counties and 378 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 years.

MCIT’s decision to issue a dividend is based on a comprehensive actuarial review of the Trust’s reserving and rate level strategies, the performance of its investment portfolio, operational expenses, and claim history. The efforts of 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 will distribute to members in 2014 is $13 million: $5.5 million from the Workers’ Compensation Division and $7.5 million from the Property/Casualty Division. Fillmore SWCD will receive $1,463 from the Workers’ Compensation Division and $1,771 from the Property/Casualty Division this year.

According to MCIT Board Chair Scott Sanders, Watonwan County commissioner, “The 2014 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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