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Finance director outlines insurance‑reserve uses; staff ties legal payments to ongoing cyber incident
Summary
Finance staff previewed use of the insurance reserve fund and confirmed ongoing payments to Mullen Coughlin related to an active cyber‑incident investigation; other deductibles for two claims were noted and staff agreed to provide details in a follow‑up meeting.
The finance presenter (S8) summarized several items: a city finance update; reimbursement of an employee for additional IT staff hours; and two resolutions concerning the insurance reserve fund. Council members asked whether reserve use related to settlements; staff indicated more details would be provided.
Staff (S7) confirmed that Mullen Coughlin is working on the city's cyber incident and that payments to that firm are ongoing as part of an investigation and engagement with IT; these payments were treated as part of the reserve/deductible process handled by Travelers. Staff agreed to meet with council members to provide full documentation on the settlements and reserves discussed.
