Review Agenda Item
Meeting Date: 6/9/2021 - 7:00 PM
Category: Consent Agenda Items
Type: Action
Subject: Approval of Workers' Compensation Renewal with SELF
Vision 2022:
Financial & Facilities Management
Continue to ensure a balanced budget that builds and maintains a fund balance that meets Board policy.
Policy:
Background 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 2020, the Board of Education approved the Workers' Compensation renewal for 2020-21 with SELF. The total premium for the year was $360,856. However, the final cost including return of contributions and audit adjustments was $271,563.
File Attachment:
SELFRenewal.pdf
Summary: The district received the renewal from SELF for the 2021-22 school year in the amount of $424,038.13 . This represents a 17.5% increase over the 2020-21 premium. The final cost after return of contributions and audit adjustments is $350,480.36 as compared to a final cost last year (after similar adjustments) of $271,563. The increase is due to the higher salary estimates and the associated increase in the corresponding workers' compensation rates. Additionally the district has a debit modifier of 5% due to an increase in claims as compared to the rest of the pool. Finally, our districts overall percentage of the pool increased which increased the amount owed for fixed costs, and our audit adjustment increased over the prior year.
Funding: 2021-2022 Education Fund Budget
Board Policy 4:10 Fiscal & Business Management
Recommendation: It is recommended that the Board of Education approve the renewal with SELF in the amount of $350,480.36.
Approvals:
Recommended By:
Signed By:
Bill Farley - Assist. Superintendent
Signed By:
Jeff Schuler - Superintendent
Vote Results:

Original Motion
Member Susan Booton Moved, Member Rob Hanlon seconded to approve the Original motion 'It is recommended that the Board of Education approve the renewal with SELF in the amount of $350,480.36.'. Upon a Roll-Call Vote being taken, the vote was: Aye: 7 Nay: 0.
The motion Carried 7 - 0
   
Brad Paulsen     Yes
Chris Crabtree     Yes
Rob Hanlon     Yes
Susan Booton     Yes
Dave Long     Yes
Mary Yeboah     Yes
Angela Blatner     Yes