Milo receives near $1,700 dividend

MILO — Municipal officials are pleased to announced that the town has received a $1,691 dividend check from the Maine Municipal Association as a result of its good loss experience and loss prevention programs.

MMA offers three self-funded pools for municipal and quasi-public entities: the workers compensation fund formed in 1978, the property and 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. MMA Risk Management Services Director Patricia Kablitz said more than 78 percent of program participants received a dividend this year for good risk management practices and loss experience.

This year the workers compensation fund has distributed almost $650,000 in dividends to participants and the property and casualty pool has paid dividends of nearly $550,000 for total payments of just under $1.2 million returned directly to MMA members.

Since 1997 the two programs have returned almost $20 million in dividends to participating members. For more information, visit www.memun.org and click on the risk management services link.