Part 1 – Risk Management Expenditures in FY24
This part of the Annual Report by State Agencies captures data regarding each agency’s risk management expenditures in FY24 using the Comptroller’s Expenditure Categories and Expenditure Codes.
The definition of risk management is the process of planning, organizing, leading, staffing, and controlling an organization’s resources to minimize the possibility of loss or injury from various causes of loss. For purposes of the SORM 200, a risk management program is defined as those activities performed by the risk manager or risk management specialist, workers’ compensation claims coordinator, safety officer, ADSO, and any assigned support personnel who further the cause of protecting the agency from loss.
Instructions
You will need to enter expenditure totals for each category. If you did not have expenditures in a particular category, please enter $0. SORM has provided specific guidance for some, but not all of the categories.
Once submitted, data cannot be updated. So, please confirm your final figures before submitting Part 1. Once the data in Part 1 is submitted, you will receive a confirmation message with instructions to continue to the Microsoft Form for Part 2.
Requests for corrections and/or additions after Part 1 is submitted must be sent to your agency’s SORM Enterprise Risk Specialist.
1. Salaries and Wages
First, you need to determine the number of FTEs involved in risk management activities. Next, you must calculate the percentage of time each staff member spent on risk management activities during the year. If the amount of time spent is less than 100%, calculate the prorated amount by dividing the number of hours worked by the total number of hours per year (2000 hours).
To obtain the total expenditures in this category, you need to multiple the annual salary by the % of time spent.
2. Benefits
A decimal value is used to perform the calculations shown below. So, you need to convert the % of time spent (previous table) to a decimal value and round up to a whole number using a percentage calculator such as https://www.calculatorsoup.com/calculators/math/percent-to-decimal-calculator.php.
3. Travel
Please enter the actual expenditures per FTE for risk management related travel.
General Instructions for Remaining Categories
Use the following method to calculate the prorated expenditures per risk management FTE for the remaining expenditure categories.
4. Other Expenditures
This category of expenditure codes is very broad. You may include direct expenditures as well as use the formula above to calculate the amount spent on behalf of each FTE for risk management related expenditures such as:
- 7201 – Membership Dues
- 7202 – Tuition – Employee Training
- 7203 – Registration Fees – Employee Attendance at Seminars and Conferences
- 7211 – Awards
- 7212 – Other Employee Benefits-Payments to Third Party
- 7213 – Training Expenses – Other
- 7272 – Hazardous Waste Disposal Services
- 7295 – Investigation Expenses
- 7297 – Emergency Abatement Response
- 7304 – Fuels and Lubricants – Other
- 7307 – Fuels and Lubricants – Aircraft
- 7309 – Promotional Items
- 7310 – Chemicals and Gases
- 7312 – Medical Supplies
- 7334 – Personal Property – Furnishings, Equipment and Other – Expensed
- 7364 – Personal Property – Drones- Controlled
- 7365 – Personal Property – Boats – Capitalized
- 7366 – Personal Property – Capital Lease
- 7367 – Personal Property – Maintenance and Repair – Expensed
- 7368 – Personal Property – Maintenance and Repair – Motor Vehicles – Expensed
- 7370 – Personal Property – Drones – Capitalized
- 7371 – Personal Property – Passenger Cars – Capitalized
- 7372 – Personal Property – Other Motor Vehicles – Capitalized
- 7373 – Personal Property – Furnishings and Equipment – Capitalized
- 7374 – Personal Property – Furnishings and Equipment – Controlled
- 7375 – Personal Property – Aircraft – Capitalized
- 7376 – Personal Property – Furnishings and Equipment – Capital Lease
- 7377 – Personal Property – Computer Equipment – Expensed
- 7378 – Personal Property – Computer Equipment – Controlled
- 7379 – Personal Property – Computer Equipment – Capitalized
- 7380 – Intangible Property – Computer Software – Expensed
- 7382 – Personal Property – Books and Reference Materials – Expensed
- 7388 – Personal Property – Construction In Progress – Fabrication of Equipment – Capitalized
- 7389 – Personal Property – Books and Reference Materials – Capitalized
- 7390 – Intangible Property – Computer Software/Internally Generated – Capitalized
5. Categories 5 – 11
Use the formula above to calculate the prorated risk management expenditures per FTE for the remaining expenditure categories.