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Meeting Date:
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8/19/2024 - 5:30 PM
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Category:
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Approval of Consent Agenda
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Type:
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Action
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Subject:
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Consider Approval of Insurance Renewal for Property, Liability, Auto, Worker's Compensation, and Crime
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District Goals:
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Objective #6: Finance & Operations Address ongoing financial challenges by re-examining system processes for efficiencies that can drive resources into our core purpose of student learning.
* Fund Balance and Bond Rating
* Balanced Budget
* Efficient Operations
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Enclosure
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A memo detailing the renewal of the District's insurance policies for 2024-2025 is enclosed.
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File Attachment:
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Summary:
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RASD transitioned to insurance plans offered through the Wisconsin Educators Risk Management Cooperative (WERMC) in 2019-2020, resulting in reduced costs over the years. For 2024-2025, the District anticipates a $37,752 increase in net insurance expenditures, driven primarily by rising property insurance costs and higher workers' compensation premiums. Despite higher costs, the District remains committed to renewing its coverage with WERMC’s partner insurers for continued cost efficiency and comprehensive coverage.
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Budgetary Impact:
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The insurance expenses are included in the General Fund (Fund 10), with anticipated costs expected to increase by $37,752 compared to the previous year.
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Recommendation:
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Approval
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Approvals:
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Recommended By:
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Signed By:
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Jonah Adams - Business Manager
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Signed By:
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Mary Whitrock (SUPT) - Superintendent
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Vote Results:
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| Original Motion | | Member Gary Rodman Moved, Member Lori Machmueller seconded to approve the Original motion 'Approval'. Upon a Roll-Call Vote being taken, the vote was: Aye: 9 Nay: 0. | | The motion Carried 9 - 0 | | | | | Tom Stellmacher | Yes | | David Scott | Yes | | Gary Rodman | Yes | | Josh Rieder | Yes | | Betsy Heffernan | Yes | | Lori Machmueller | Yes | | Denise Martinez | Yes | | Kelly Nielsen | Yes | | Katie Grady | Yes | |
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