The Manhattan City Commission supported moving forward Tuesday with establishing a risk management reserve fund.
The work session only required a general consensus from the commission rather than a vote.
The proposed risk reserve fund would pay for losses not covered by insurance, especially deductibles.
City administrators recommend establishing the fund because it would allow the city to raise deductibles where appropriate and “likely” lower annual property and liability insurance costs.
“Given the longer term, this could be a helpful fund to have to hopefully lower future costs,” finance director Bernie Hayen said.
The funding would be secured with remaining money in the general…
