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Treasurer reports nearly $500,000 state funding shortfall; board approves insurance renewal
Summary
Treasurer told the board the district is down nearly $500,000 in state funding for the year and estimated the state pays roughly 37% of the district's funding; the board approved a pooled insurance renewal with a modest premium increase and no deductible changes.
The district treasurer reported April financials showing the district is nearly $500,000 behind in state funding for the fiscal year and said the state’s share of the funding formula for the district is approximately 37 percent. She said the district is trending roughly with its forecast but continues to monitor state funding and rising benefit costs.
To manage risk and cost, the board approved renewal of property, fleet and liability insurance through a multi-district pool; the treasurer said the pool limited the premium increase to about $2,000 for the year and that there were no deductible or limit changes. Board members asked follow-up questions about claims trends and the role of staff training in limiting incidents.
The treasurer said she will recommend transfers into severance and capital-project accounts to preserve funds for future building and equipment needs. Those transfers and routine financial approvals were moved and approved by roll call during the meeting.
