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Lyon County commissioners approve $532,174 insurance premium, waive GAAP requirement
Summary
The Lyon County Commission on Jan. 9 approved the KCAMP annual liability-insurance premium of $532,174 and passed a resolution to waive GAAP requirements under K.S.A. 75-1120; commissioners also authorized a $100,579.57 transfer to the Tort Liability Fund to cover the payment.
The Lyon County Commission voted unanimously on Jan. 9 to approve the KCAMP annual liability-insurance premium of $532,174.00 and to transfer $100,579.57 from the General Fund to the Tort Liability Fund to cover the cost. County Controller Dan Williams presented the invoice and the transfer request and recommended using account 053-00-7233 for payment.
Williams also presented a resolution asking the board to waive GAAP (Generally Accepted Accounting Principles) reporting requirements under K.S.A. 75-1120; the board approved the resolution by a 3-0 vote. The actions were recorded in the meeting minutes and carried during the morning session.
The motions were procedural votes without extended public debate. The board’s recorded votes on these items were Rollie Martin (yes), Ken Duft (yes), and Doug Peck (yes). Commissioners set no additional public timeline for related reporting at the meeting.
