| Issue Date: | |
|---|---|
| Revised Date: | 2007-11-20 |
Object Type
Cash — Other Expenditures
Reference
Description
To record the payments of authorized insurance premiums not requiring approval from the Attorney General's Office and/or the State Board of Insurance. This code requires legal descriptive text and pre-payment audit approval by the State Office of Risk Management. This code may be used without pre-payment audit approval by higher education health facilities to pay employee malpractice insurance premiums.
Expenditure code 7204 includes, but is NOT limited to:
- Automobile (insurance premiums)
- Insurance Deductibles
- Insurance Premiums (malpractice)
Note
Generally, state law limits the types of insurance state agencies may purchase and under what conditions.
This code does NOT include:
- Insurance requiring approval by the Attorney General and Department of Insurance (7216)
- Judiciary insurance (7622)
- Car rental insurance for travel (7101)
- Collision damage waiver for employee move (7071)
- Payment made by certain state agencies exempt from State Office of Risk Management approval by state statute (7244)
USAS Values
| Appropriation Year | 25 |
|---|---|
| USAS Title | INSURANCE PREMIUMS & DEDUCTIBLES |
| Object Group | 10 – Expenditures |
| USAS Status | A |
| Rev/Exp Category | 04 – OTHER EXPENDITURES |