Agency budget risk management
Risk management was added to the budget process during the 2003-05 budget cycle as a recommendation of the Risk Management Task Force.
What was the task force?
In 2000, Governor Gary Locke and Attorney General Christine Gregoire created the task force to renew efforts to better protect the public, mitigate loss and damages related to state services, and recommend ways to improve the state's risk management program.
What were the task force recommendations?
The Risk Management Task Force released its findings in a report issued October 9, 2001. It focused on recommendations intended to:
- Improve loss prevention.
- Mitigate risks when services are delivered in an attempt to avoid human loss and suffering.
- Provide policy level visibility within the budget process to each agency's loss funding requirements and loss prevention efforts. This would provide greater accountability and incentive for effective loss prevention.
On December 7, 2001, Governor Gary Locke issued Executive Order 01-05 Risk Management, which directed agencies to adopt risk management best practices.
Budget information & links
- Risk Management Division (RMD) guidelines for Section 13.1 Risk Management and Self Insurance Premium 2011-13 Budget
- Agency biennial self-insurance premiums
- Agency self-insurance premium decision packages
- Present allocation formula – RMD self insured liability fund
- The Orange Book - Management of Risk - Principles and Concepts (Oct. 2004)
- Risk Management Basics - the RMD manual
Risk management budget tools
- Loss History Reports for Analysis Place your order on-line to receive electronic reports. Important: Loss history report requests are provided only for state agency use to agency risk or finance managers for requestor's agency data.
- The Public Entity Risk Institute (PERI) provides information and worksheets on evaluating public sector risks. Agencies may find this a helpful guide to augment other tools and information used for evaluating risk and establishing risk management goals. Risk Identification and Analysis: A Guide for Small Public Entities.
