Nebraska Statutes 48-1,117. Compensation Court Cash Fund; accounting; abatement of contributions
The Department of Administrative Services shall furnish monthly to the Nebraska Workers’ Compensation Court a statement of the Compensation Court Cash Fund setting forth the balance in the fund as of the first day of the preceding month, the income and its sources, the payments from the fund in itemized form, and the balance in the fund on hand as of the last day of the preceding month.
Terms Used In Nebraska Statutes 48-1,117
- Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
- Month: shall mean calendar month. See Nebraska Statutes 49-801
- Year: shall mean calendar year. See Nebraska Statutes 49-801
At the close of business on June 30 of any year, if the balance in the fund is equal to or exceeds three times the sum expended and encumbered in the fiscal year then ending, the contributions to the fund pursuant to sections 48-1,113 and 48-1,114 shall abate for the calendar year next ensuing and only for that year and the compensation court shall notify all self-insurers and the Director of Insurance who shall notify all workers’ compensation insurers and risk management pools of such abatement and of the date when such contributions shall resume. No abatement shall ever extend beyond one year.