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Finance director outlines ERP rollout; board approves insurance renewals amid rising premiums
Summary
Finance staff reported completion of an enterprise resource planning (ERP) rollout and presented an insurance renewal package that showed a significant premium increase year over year. The board approved the insurance renewals, workers' compensation and cyber coverage.
District finance staff told the board they have installed an enterprise ERP system and are in the final design and training phase, enabling principals and central-office staff to access reports and streamline budget workflows.
At the same meeting the board reviewed an insurance renewal proposal showing a material increase in premiums compared with two years ago; finance staff recommended continuing existing coverage and building an internal deductible fund to manage catastrophic exposure.
Why it matters: The ERP system aims to centralize financial workflows and reporting, which the district said will give principals improved access to budgets and streamline requisitions. The insurance renewal will affect next year's budget and prompted discussion of deductible strategy.
Key takeaways - ERP implementation: Finance presenters said the district has installed the enterprise ERP system at 100% and will continue design-phase work and staff training over the summer. The system will expand reporting access for school bookkeepers and principals. - Insurance package: Finance presented a renewal proposal totaling $405,902. Staff said the renewal represents an increase of $71,680 from the prior year and that insurance costs across lines have risen substantially in recent years. - Workers' compensation: Renewal was presented at $37,832.51, a savings of $7,986.04 from the prior year; the board approved the workers' compensation renewal. - Cyber liability: A cyber liability proposal of $13,927.92 for a $2 million policy with a $10,000 deductible was also approved.
Board actions: The board voted to approve the overall insurance package, workers' compensation renewal and cyber liability coverage. Finance staff recommended building a district-held deductible reserve (staff projected staging to a target equal to likely deductibles over time) rather than buying higher-cost premium buy-downs at present.
Next steps: Finance staff will continue ERP training and bring recommendations on an internal deductible reserve and any additional coverage options to future board meetings.
