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Flagler school leaders review $2.4 million NEFEC risk-management package; slight rate increase noted
Summary
School finance staff told the Flagler County School Board the district's 2024–25 risk-management insurance through the NEFEC consortium is about $2.4 million, a roughly 2% increase from the prior year; staff described annual review and allocation details.
School finance staff told the Flagler County School Board on Jan. 14 that the district's 2024–25 insurance and risk-management coverage through the NEFEC consortium totals about $2.4 million and represents a small increase from the 2023–24 fiscal year.
During the workshop, a board member asked whether the $2.4 million figure was comparable to previous years and whether the district had recently solicited competing bids. Staff replied the contract was approved in May or June of the prior fiscal year and that the current figure is “a slight increase” — staff estimated roughly 2 percent. Staff said the district participates in NEFEC's consortium to obtain competitive rates and that the package covers workers' compensation, liability and building/property insurance.
Officials explained the district allocates costs across schools and programs by pro rata shares of payroll. That allocation requires a large spreadsheet of hundreds of line items so workers' compensation and other premiums are apportioned correctly across instructional and noninstructional payroll lines. Staff said auditors recommended the current allocation method to ensure the costs are aligned properly.
Board members asked how often the district compares rates and whether the district receives itemized breakdowns for services such as IT or property coverage. Staff said the review and comparison to market alternatives is conducted annually; the contract and its line-item costs are reviewed by the district's risk-management board before approval by NEFEC's executive board and then the district board. Staff said the NEFEC contract includes line-item information for the services included and that administrators will see those details when the contract is presented.
Officials also said the district participates in mitigation and vendor services coordinated by NEFEC, naming Belfor (a disaster‑recovery vendor) as an example of an outside contractor that can be used if property mitigation is required.
