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Mahomet-Seymour board approves insurance renewals and variable-rate energy contracts
Summary
The Mahomet-Seymour CUSD 3 board approved renewals for property/casualty, workers' comp and cyber insurance—reported at a combined increase—and approved variable‑rate natural gas and electricity contracts; one board member announced an abstention on the insurance vote due to a conflict.
The Mahomet-Seymour CUSD 3 Board of Education on June 16 approved the district’s insurance renewals and authorized contracts for natural gas and electricity with recommended variable pricing.
Heather, the district finance staff member, said the insurance renewals (property/casualty, workers’ compensation, treasurer’s bond, cyber liability and catastrophic coverage) came with mixed changes but an overall increase of about 17%. "Overall is 17, 17% increase," Heather said, and attributed part of the increase to higher payroll and market conditions that raise premiums.
The nut graf: the district’s insurance broker provided recommendations and the district elected to renew with the broker’s preferred carriers rather than go back out to bid this year; the board approved the renewals. One board member said he sits on a board of directors for one of the insurers and announced he would abstain from voting on that item.
On utilities, the district’s energy consultant recommended variable pricing for natural gas (three‑year term on a variable schedule) and for electricity with the option to convert to a fixed rate later. The superintendent recommended contracts with the named vendors; the board approved the natural gas contract with Maysville and the electricity contract with Constellation, with the finance staff noting they can switch suppliers if market conditions change.
Ending: The renewals and energy contracts were approved; staff said they will monitor markets and can move to fixed rates in the future if conditions make that advantageous. The board did not discuss specific dollar amounts for insurance premiums or the energy contracts during the oral review; those figures are in the meeting packet.
