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Board approves NYSIR insurance coverage and re-establishes multiple reserve funds
Summary
The board approved NYSIR coverages for employees and the board (including Public Employee Dishonesty limit $5,000,000 with a $1,000 deductible) and re-established reserve funds for Tax Certiorari ($88,162), Service/Termination $3,842,385, Workers' Compensation $1,282,693 and TRS/ERS Retirement $3,022,703.
The Central Square board approved district insurance coverages and re-established several reserve funds at the July 13 organizational meeting.
The minutes record approval of NYSIR insurance coverages for district employees and the board, including a Public Employee Dishonesty limit of $5,000,000 per loss with a $1,000 deductible. The board also voted unanimously to re-establish reserve funds with specific balances: Tax Certiorari $88,162; Service/Termination (EBLAR) $3,842,385; Workers' Compensation $1,282,693; and TRS/ERS Retirement $3,022,703.
These actions set financial protections and designated fund balances for known contingencies and retirement liabilities for the 2026–27 year.
