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Board approves insurance renewal after staff cites $333,487 net decrease
Summary
Trustees authorized renewal of district property, liability and auto coverages after staff reported an overall premium drop of $333,487 largely tied to property rate changes, while noting an added $30 million in insured property value (about $664 million total insured).
A district staff presenter summarized the recommended insurance renewals covering property, general and auto liability, physical damage and crime/fidelity, telling trustees the package produced a net reduction in cost compared with prior year quotes.
"So tonight, I'm bringing you a renewal ... which is a drop of $333,487," the presenter said, explaining that much of the change was attributable to commercial‑property rate movement even as the district added roughly $30,000,000 in property value to insured totals. The presenter said the district is insuring approximately $664,000,000 in property value and that some increases in auto liability reflect recently added vehicles that will be removed when sold.
A trustee moved to authorize the superintendent to renew the insurance coverage as presented; the motion was seconded and the board approved it 7–0. No amendments or conditions were added in the recorded motion.
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