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Palos Park approves $156,320 insurance-pool contribution for 2026
Summary
Council voted unanimously to approve a $156,320 contribution for the Village’s 2026 IRBA insurance pool, using $116,320 in surplus-credit reserve funds and $40,000 from village funds to pay the premium.
The council approved the Village’s 2026 contribution to its insurance risk pool (IRBA) in a unanimous roll-call vote. A motion to "approve the 2026 IRBA annual contribution of $156,320 and net surplus credit reserve funds in the amount of $116,320 and the $40,000 in the village funds to be used to pay for the insurance premium" was made and seconded; Deputy Clerk recorded affirmative votes from Commissioners Patan, Wade, Reed, Holcomb and Mayor Malory Walters.
Chief Bill and staff had reviewed the Village’s recent claims experience and noted participation in a pooled risk-management program of roughly 58 public entities across the Chicago metropolitan area intended to secure better insurance rates.
The council’s action authorizes use of the identified reserve credits and village funds to pay the 2026 premium; the transcript records the roll call and unanimous approval in the segments provided.
