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Treasurer cites $535,000 tax‑settlement overpayment, flags insurance premium increases
Summary
The district treasurer told the board a previous county tax settlement was overstated by $535,000 and that the district will owe an additional $15,000; the treasurer also outlined medical and dental premium increases and a recommended change in stop‑loss to lower overall cost growth.
The district treasurer reported that an overpayment in a prior county tax settlement overstated revenue by $535,000 and required repayment to the county auditor, and that the district still owes an additional $15,000 that will be deducted from the late‑August property‑tax settlement.
"That initial 15,000 will be deducted right off the top before we receive any kind of settlement from the county auditor," the Treasurer said, explaining the timing and effect on the district's cash flow.
The Treasurer also recommended continuing the district's third‑party claims manager for workers' compensation claims and described upcoming insurance premium changes. Medical insurance rates, the Treasurer said, were up about 8.5 percent and dental premiums rose roughly 31.78 percent; family and single coverage dollar increases were also described.
To secure the lower overall premium increase, the Treasurer said the district agreed to raise its stop‑loss threshold from $35,000 to $50,000. "In order to get that 8 and a half percent, I had to agree to move our stop loss from 35 to 50," the Treasurer said, adding that a $50,000 stop loss remains below many districts' levels and that anything above the stop loss would be reimbursed by the insurance carrier.
Board members asked clarifying questions about the timing of reimbursements and the district's exposure under the new stop‑loss figure. The Treasurer explained that larger districts often carry higher stop‑loss amounts (for example, $75,000 to $125,000), and that the district's choice balanced premium increases against claim exposure.
The board moved to approve the treasurer's consent items covering the period; the motion passed by voice vote with board members recorded as voting in favor.
Next steps: the Treasurer will proceed with the third‑party claims manager contract renewal and the insurance arrangements that take effect with the district's July pay period (first payroll in June).
