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Finance director reports reserves and rising insurance costs; board set to review GrowWell employee-clinic proposal
Summary
The district's finance director reported larger investment balances and a nearly $2.9 million health-reserve balance, flagged rising property/casualty and health-insurance costs, and presented a proposal to contract with GrowWell for an on-site/near-site clinic with a projected break-even at roughly 50% utilization.
Jessica Nolan, the district finance director, gave the board an overview of the district's fiscal position and brought forward a proposal for an employee health clinic vendor the district is considering.
Nolan said the district has grown interest income from investments and that, as of February, interest earnings had increased to nearly $1.2 million for the fiscal year so far. Nolan reported the district's health-insurance reserve had been rebuilt to about $2.89 million and said those reserves meet common guidance (roughly two months of claims) for contingency.
Nolan identified fiscal risks the district is monitoring: declining enrollment (she estimated an average per-student funding value of about $8,300 based on FY24 data), rising…
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