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Board told insurance renewals grew about 3%—below budgeted estimate
Summary
Staff reported district insurance policies have been renewed and the total cost increase is about 3%, lower than the roughly 8% the board had budgeted; a renewal summary will appear at the next full board meeting.
Staff told the committee the district’s insurance policies have been renewed and that the net increase is modest compared with prior projections. “The good news is that, in total, the increase is around 3%. We had budgeted closer to 8,” the staff member said; the insurance renewal summary will be placed on next week’s agenda if timing allows, or in July if binding continues into late June.
Board members were advised the staff received an updated insurance sheet but had not yet completed a critical review of it; staff committed to providing the updated sheet to the board before the next meeting. There was no formal approval taken at this meeting; the presentation was informational.
