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Unidentified speaker introduces Resolution 58 to join Mid Jersey Municipal Joint Insurance Fund
Summary
An unidentified staff member presented Resolution 58 to move the borough into the Mid Jersey Municipal Joint Insurance Fund, citing an expected 20% premium increase with the Middlesex County fund and estimated annual costs of about $200,000; the transcript does not record a vote.
Unidentified speaker, a staff member, introduced Resolution 58 to join the Mid Jersey Municipal Joint Insurance Fund, saying the move would avoid an expected 20% increase in insurance premiums that had been projected to add roughly $200,000 to annual costs.
The speaker said the borough and four other local members — five members in total — faced about a 20% increase from the Middlesex County Joint Insurance Fund late last year and in early December. "So all 5 of us got together, shopped around, and found the Mid Jersey GIF at no increase," the speaker said, adding that the borough and the other four left the Middlesex County fund and joined Mid Jersey.
The speaker said the Mid Jersey fund had 13 other members before the move, bringing the total to about 18 members. The speaker estimated the change would save about $180,000 in the borough budget. "So, hopefully, you saved us $180,000 in the budget," the speaker said.
The transcript records the presentation of Resolution 58 but does not record a motion, roll-call, or final vote on the resolution. The transcript also does not identify the borough by name or provide further details about the terms of membership, the effective date of the transfer, or whether any transition costs or contract changes apply.
