Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the School Finance topic
No spam. Unsubscribe anytime.
Brookings schools report unexpected drop in property and liability insurance costs
Summary
Dr. Summer Schultz, superintendent of Brookings School District 05-1, told Brookings Radio the district’s property and liability insurance costs fell this year after member districts in the Associated School Boards’ trust adopted a different approach; the district did not specify the dollar amount.
Dr. Summer Schultz, superintendent of Brookings School District 05-1, said the district’s property and liability insurance costs decreased this year after member districts in the Associated School Boards’ trust changed how the pool manages coverage.
The announcement came during a radio interview about the district’s recent school board meeting. Schultz said she serves on the pool’s advisory committee and supported the new approach, but credited the pool director and other staff for developing the recommendation. Schultz said the change “allowed all of the member schools to get a decrease this year in our property and liability insurance.” The district did not provide a dollar amount.
Why it matters: insurance is a significant recurring expense for school districts, and lower premiums can free money for classrooms, maintenance or staffing. Schultz framed the development as a broader benefit to districts that participate in the pooled coverage.
Details and context: Schultz said the district moved carriers a couple of years ago and that pooled programs can see year-to-year swings in rates depending on strategy and losses across member districts. She described her role as advisory, saying she “can’t take any credit other than when the director and those who did the work brought the recommendations.” The station’s host noted rising property-insurance costs nationally and from catastrophic weather but that this year’s outcome was a welcome change for the district.
What wasn’t said: Schultz did not provide the exact premium change, the pool’s formal name beyond the Associated School Boards’ trust reference, or how the reduction will affect the district’s budget line items. No formal board action or vote on insurance coverage was recorded during the interview.
Next steps: Schultz did not list specific budget reallocations tied to the insurance savings; the district’s finance office would be the body to disclose any planned uses of freed funds.
