Georgia School Boards Association Risk Management Fund

“The georgia school boards association risk management fund, (the "fund") has contracted with the georgia school boards association, inc. (the "association"), to provide administrative services to the fund. Administrative services include, but are not limited to, use of the association's name, office, staff, overhead items and related expenses to carry out the day-to-day operations of the fund. The association also provides various claims, marketing/member development, underwriting, and risk improvement services to members of the fund.”

“Several school systems in the state of georgia are members of the georgia school boards association risk management fund. During the year ended 6.30.25 there were 125 members.”

“Trustees are elected by the members of the fund, unless a vacancy occurs during the term, in which case the executive director of georgia school boards association, inc., with input from others, recommends individuals for the vacant trustee position and the existing trustees vote to elect.”

“The form 990 is reviewed by the chief financial officer, executive director and the assistant executive director of georgia school boards association, inc. And posted for trustee review prior to filing.”

“Each member of the board of trustees will submit an annual report on a form provided by the fund to identify any potential conflicts. The forms will be reviewed by the executive committee which will discuss any potential conflict with the individual trustee and, if necessary, refer any issue of potential violation of the policy to the board of trustees.”

“The fund has no employees, but the board approved management fees paid to georgia school boards association, inc. Which provides management services for the fund.”

“The organization makes its governing documents and financial statements available upon written request.”

“The organization utilizes a joint audit committee with the georgia school boards association workers compensation fund for the purpose of evaluating external auditor relationship and communicating with our auditors. The audit committee is a joint gsba workers' compensation fund/gsba risk management fund committee that serves as the trustees' point of contact for the financial auditors. In addition, the committee may also: -periodically review auditor relationship -resolve disagreements between management and the auditors regarding financial reporting -receive audit reports from the auditors the organization continues to use the services of the same auditing firm that was awarded the audit bid previously. There have been no changes to the audit and financial statement oversight process.”