|
|
|
|
|
Meeting Date:
|
6/9/2021 - 7:00 PM
|
|
Category:
|
Consent Agenda Items
|
|
Type:
|
Action
|
|
Subject:
|
Approval of Workers' Compensation Renewal with SELF
|
|
Vision 2026:
|
Financial & Facilities Management 1 Continue to ensure a balanced budget that builds and maintains a fund balance that meets Board 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:
|
|
|
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 | |
|
|
|
|
|
|
|