The Saugerties Central School District approved a resolution establishing an insurance reserve fund to cover the cost of judgments, settlements, claims and a range of insurance exposures, including workers' compensation and property and liability losses.

The resolution, presented during the board meeting, authorizes the district to set aside funds from the General Fund undesignated fund balance to pay claims and related costs. A motion to approve the resolution was made and seconded, and the board chair called for the vote; the meeting record shows the vote concluded with “All does in favur,” indicating approval.

Board discussion, as captured in the meeting transcript, listed the types of coverage the reserve would address — judgments, settlements, claims, workers' compensation, property and liability insurance and related exposures — and named several insurance carriers during the presentation. The transcript does not provide a clear, confirmed dollar amount for the reserve or a detailed funding schedule; it references the General Fund as the funding source and uses language indicating the board would appropriate from undesignated fund balance.

The presenters named several insurers during the item, including Travelers and Progressive, and mentioned allocation from the General Fund; the transcript’s wording around specific dollar figures is unclear and did not record a precise appropriation amount. The meeting record also indicates the item was handled as a special board action item.

Next steps and implementation details — including an exact funding amount, timing of transfers from the General Fund and any administrative procedures for paying claims from the reserve — were not specified in the portions of the transcript provided.