Board approves property insurance renewal with 17% rate reduction saving $204000

The WOISD Board Meeting held on February 24, 2025, focused on several key agenda items, including financial reports and insurance approvals, with significant discussions surrounding the district's budget and staffing strategies.

The meeting commenced with the approval of the consent agenda, which included the minutes from a special board meeting and the monthly investment and financial reports for January 2025. The board unanimously approved these items, reflecting a smooth start to the meeting.

A major highlight was the discussion on property and casualty insurance. Chase Carlisle from AcroSure presented positive news regarding a 17% reduction in insurance premiums, resulting in approximately $204,000 in savings for the district. This reduction is attributed to a softening market and fewer natural disasters impacting insurance rates. The board expressed satisfaction with the new per-building deductible structure, which is expected to benefit the district financially in the event of claims.

Following the insurance discussion, the board considered a voluntary early notification of resignation and retirement incentive program for the 2025-2026 school year. This program aims to encourage staff to resign early, allowing the district to plan for staffing needs ahead of time. Concerns were raised about the financial implications of this program, particularly in light of current challenges such as transportation issues for students. However, the administration reassured the board that the costs associated with the program would be manageable, as they had previously funded similar initiatives from the general fund.

Overall, the meeting underscored the district's proactive approach to financial management and staffing, with a focus on maximizing resources while addressing community concerns. The board's decisions are expected to have a positive impact on the district's operational efficiency moving forward.