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Finance director reports insurance spike, negative capital improvement balance
Summary
Finance staff reported the general fund is currently positive but cautioned the capital improvement fund is in a negative balance and insurance renewals would cost about $51,004 more this year; staff said operational and safety reviews are planned to reduce claims exposure.
At the meeting the board received a monthly financial update from finance staff (addressed in the meeting as Justin). Justin said the general fund is currently slightly positive but warned that one-time payments during the fiscal year could change that picture. He reported the capital improvement fund has a negative balance and said the upcoming budget will address that shortfall, likely by reducing planned…
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