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Meeting Date:
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Category:
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Type:
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Subject:
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Approval of Workers' Compensation Renewal with SELF |
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Vision 2026:
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Financial & Facilities Management 1 Continue to ensure a balanced budget that builds and maintains a fund balance that meets Board policy.
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Background:
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For Workers' Compensation coverage, the district is a member of the School Employees Loss Fund (SELF) cooperative. SELF is a Workers' Compensation pool made up of approximately seventy school districts in the area. In June 2021, the Board of Education approved the Workers' Compensation renewal for 2021-22 with SELF. The total premium for the year was $350,480.36, including $86,321.77 in returns of contributions from the 2004-2019 claim years. |
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File Attachment:
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Summary:
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The district received the renewal from SELF for the 2022-23 school year in the amount of $348,981, with a final cost of $274,335 after a return of contributions and payroll audit adjustments. This represents a 21.7% decrease over the 2021-22 premium. The decrease is due to a 10% reduction in our experience modification factor (reduction in claims) and the reduction in our member percentage in the pool (3.9439% vs 4.27%). A copy of the renewal is attached for your reference. |
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Funding:
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2022-2023 Education Fund Budget |
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Board Policy: |
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4:10 Fiscal & Business Management |
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Recommendation
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It is recommended that the Board of Education approve the 2022-2023 workers compensation renewal with SELF in the amount of $274,335. |
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Approvals:
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Recommended By: |
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Signed By: |
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Brian O'Keeffe - Asst Superintendent Business Services |
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Signed By: |
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Jeff Schuler - Superintendent |
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Vote Results:
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| Original Motion | | Member Susan Booton Moved, Member Brad Paulsen seconded to approve the Original motion 'It is recommended that the Board of Education approve the 2022-2023 workers compensation renewal with SELF in the amount of $274,335.'. Upon a Roll-Call Vote being taken, the vote was: Aye: 6 Nay: 0. | | The motion Carried 6 - 0 | | | | | Brad Paulsen | Yes | | Chris Crabtree | Yes | | Rob Hanlon | Yes | | Susan Booton | Yes | | Mary Yeboah | Yes | | Angela Blatner | Yes | |
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