The meetings are open to the public and minutes are recorded. The City Attorney also attends the meetings and provides legal advice when needed.


Method of Appointment

Per Corporation By-Laws, Risk Acceptance Management Corporation (RAMCO) has seven Board Members that serve until replaced.

Number of Members

Not less than 3 or more than 7

Terms of Office

Annual Board meetings are required by the Corporation By-laws for the election of officers.

Chief Staff Person

Lisa M. Saunders
Chief Financial Officer
Phone: 336-747-6911

Current Membership

NameRace & Gender
Denise C. AdamsBlack Female
Robert C. ClarkWhite Male
Angie F. FisherWhite Female
William B. RoweWhite Male
Lisa M. SaundersWhite Female
Nick WebsterWhite Male

Authority for Creation 

Corporation organized under the Non-Profit Corporation Act of the State of North Carolina Articles of Incorporation within the meaning of Section 501(c)(3) of the Internal Revenue Code of 1986 or the corresponding provision of any future United States Internal Revenue law.

Purpose / Function

During the insurance industry crisis for local governments in the mid-to-late- 1980s, the cost of insurance, if available at all, had increased two to three times. In 1988, the RAMCO was established as legally separate nonprofit corporation, created for the benefit of the City of Winston-Salem (the "City") to provide a funding vehicle for the payment of claims against the City. 

Since the City did not want to "go bare" with a self-funded risk management program, RAMCO issued financing for a $15 million reserve. The $15 million Certificates of Participation was secured by an annual contract with the City and rated AAA by Standard and Poor's Corporation. The contract provides for an annual basic payment by the City to RAMCO to cover the cost of claims and expenses. 

An Operating Memorandum is presented for City Council approval each year under the Contract which includes the basic payment requirements and the legal obligations of RAMCO to pay claims on the City's behalf. The risk program enabled coverage of general, automotive, public officials, employment liability, certain tort claims, and reserve funding for claims against the City.