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Saugerties district approves insurance reserve fund to cover claims and settlements
Summary
The Saugerties Central School District approved a resolution to establish an insurance reserve fund to cover judgments, settlements, workers' compensation and other insurance exposures, to be funded from the district's General Fund undesignated balance; exact funding amounts were not specified in the transcript.
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…
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