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Board hears March revenue update, timber timing and insurance outlook; construction reported on‑budget
Summary
Board received a financial update noting March revenues just over $1,000,000 and seasonal timber receipts, an insurance renewal preview that forecast 12–15% premium increases but a drop in workers' comp experience mod to about 0.87, and a construction update reporting the project is on budget and on schedule.
During the April 13 meeting, district financial and project staff updated the board on revenue, risk management and construction.
A finance presenter (S7) said March revenues were a little over $1,000,000 and that timber revenue receipts are typically concentrated later in the fiscal year, so current lower timber receipts were not a concern. The presenter noted property taxes were running slightly higher than projected, which currently offsets the timber timing but may affect future years.
An insurance representative identified as Alicia Johnson (S4) with Assurant Partners reviewed the district's upcoming July renewal. She said the district should expect a 12–15% increase in some premiums at renewal but that the district’s workers' compensation experience mod should fall from about 1.4 to roughly 0.87, a change that would lower that portion of the premium. She highlighted cost‑management tools the district uses, including an EPL toolkit and claim‑management processes.
Project staff told the board the construction work the board toured is on budget and on schedule, and that contingencies remain largely intact; board members thanked staff for the coordination. The board approved the consent agenda and earlier approved the meeting agenda by voice vote.
What’s next: The budget committee will meet locally on April 14 to review a proposed budget and staff will continue monitoring timber markets and insurance renewal options.
