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Meeting Date:
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6/12/2024 - 7:00 PM
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Category:
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Consent Agenda Items
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Type:
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Action
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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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Operational Excellence Strategies 2 Maintain strong fiscal health of the organization.
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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 more than 80 Illinois school districts. In June 2023, the Board of Education approved the Workers' Compensation renewal for 2023-24 with SELF. The total premium for the year was $217,529, which was a 20.7% decrease over the 2022-23 premium.
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File Attachment:
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Summary:
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The district received the renewal from SELF for the 2024-25 school year in the amount of $285,404, with a final cost of $203,272 after a return of contributions and payroll audit adjustments. This represents a 6.55% decrease over the 2023-24 premium. The decrease is due to a return of member contributions totaling $83,466 and a reduction in our member percentage in the pool (2.9% vs. 3.7%). A copy of the renewal is attached for your reference.
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Funding:
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2024-2025 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 2024-2025 workers compensation renewal with SELF in the amount of $203,272.
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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 Erik Hjerpe Moved, Member Dave Long seconded to approve the Original motion 'It is recommended that the Board of Education approve the 2024-2025 workers compensation renewal with SELF in the amount of $203,272.'. Upon a Roll-Call Vote being taken, the vote was: Aye: 7 Nay: 0. | | The motion Carried 7 - 0 | | | | | Brad Paulsen | Yes | | Rob Hanlon | Yes | | Dave Long | Yes | | Angela Blatner | Yes | | Julie Kulovits | Yes | | Erik Hjerpe | Yes | | John Rutledge | Yes | |
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