Westfield earns dividend

14 years ago

Westfield earns dividend

By Kathy McCarty
Staff Writer

WESTFIELD — Municipal officials recently announced the town has earned a $710 dividend check from the Maine Municipal Association as a result of its good loss experience and loss prevention programs.
The Maine Municipal Association offers these self-funded pools for municipal and quasi-public entities in Maine: the Workers Compensation Fund, formed in 1978; the Property & Casualty Pool, formed in 1987; and the Unemployment Compensation Fund, formed in 1978.
“The programs are overseen by governing boards of elected and appointed municipal officials. Each year, the boards review the programs’ loss experience to determine if dividends may be paid,” said Carolee Hallett, town clerk.
According to Patricia Kablitz, director of Risk Management Services for MMA, more than 75 percent of program participants receive dividends each year for their good risk management practices and loss experience.