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<br />c <br /> <br />c <br /> <br />c <br /> <br />Florida Municipal Insurance Trust <br />MANAGEMENT'S DISCUSSION & ANALYSIS <br />For the Year Ended September 30,2010 <br /> <br />Econom ic Factors (Continued) <br /> <br />It is anticipated that local governments will continue to face budget challenges into the 2011 year, As <br />local governments, such as cities and counties, meet the challenges of declining tax revenues, many are <br />faced with either raising tax rates to meet service demands or cutting expenses and service levels, This <br />will equate to members looking for all opportunities to cut costs, The soft insurance market is anticipated <br />to continue, resulting in lower insurance premiums and extremely aggressive competition, The Trust is <br />exploring all avenues to reduce costs while maintaining prudent underwriting standards, The year-old <br />partnership with Synergy 10, Simplicity, a pre- and post-disaster program has added value to the Trust's <br />property program, The Trust has implemented new technology initiatives, service programs, risk control <br />training, and key staff additions that will continue to provide added value over time, <br /> <br />Requests for Information <br /> <br />This financial report is designed to provide a general overview of the Trust's finances, Questions <br />concerning the information provided in this report or requests for additional financial information should be <br />addressed to the Florida League of Cities, Director of Insurance and Financial Services, P,O, Box <br />538135, Orlando, FL 32853. <br /> <br />8 <br />