PoolPact presentation: Boulder City sees about 33% drop in insurance contribution, council approves payment

Council approved payment of the citys FY2027 insurance premium after a presentation from PoolPact representatives explaining coverage changes and why Boulder City's contribution decreased by roughly 33% compared with the prior year.

Paul Sakora, the city's purchasing, grants and risk manager, introduced Marshall Smith of PoolPact, who summarized how PoolPact (a member-owned Nevada public-agency insurance pool) governs coverage changes through member committees and how the pools market negotiations produced the renewal. Smith and PoolPact staff said members collectively own the pool and that annual contributions are driven by payroll, total insured value, vehicle counts, law-enforcement allocations and similar exposure factors.

PoolPact and city staff highlighted Boulder Citys enterprise risk-management engagement, noting the city was one of eight award winners in the pool for its risk-management program. Staff also enumerated recent grants the city received through PoolPacts program (past AED purchases for city facilities, MSDS iPads for employee chemical information, and a telematics grant described in the meeting as about $25,000 to support a vehicle-safety pilot).

Alan Cult, PoolPact chief financial officer, explained the pool uses investment earnings to fund service dividends and the grant program (the grant program can make up to about $500,000 available to members in eligible cycles). Council members praised staff for engaging with PoolPact and voted to approve resolution 8143 to pay the renewal premium presented at the meeting.

Councilmembers asked staff to continue inventory and exposure reviews (vehicles, property) so premiums reflect actual assets; staff agreed to follow up on recordkeeping and to incorporate program benefits into future budget reporting.