|
|
|
Meeting Date:
|
|
|
Category:
|
|
|
Type:
|
|
|
Subject:
|
|
2024-2025 District Insurance Portfolio Renewal |
|
|
|
District Goals:
|
Goal 1 Thriving Students Goal 2 Engaged Community Goal 3 Empowered Staff
|
|
|
|
Enclosure:
|
|
|
File Attachment:
|
|
|
Summary:
|
|
Each year, CISD Administration evaluates the District Insurance Portfolio to assess opportunities for cost savings and/or to address coverage gaps.
The Insurance Portfolio consists of two (2) primary categories of coverage:
1. Property and Crime
2. Automobile and School Liability Coverage.
Administration is presenting the proposed FY 2024-25 renewal for Property and Crime Coverage and the proposed FY 2024-25 renewal for Automobile and School Liability Coverage for Board approval.
The recommended Property and Crime Coverage renewal includes a lower premium/higher (wind & hail 5%) deductible option that saves the District $275,679 from the initial proposed renewal premium. |
|
|
|
Budgetary Impact:
|
|
FY 2024-25 Property and Crime Coverage: $1,767,319
FY 2024-25 Automobile and School Liability Coverage: $221,464 |
|
|
|
Recommendation
|
|
Administration recommends approval of the FY 2024-25 Property and Crime Coverage and the FY 2024-25 Automobile and School Liability Coverage as presented. |
|
|
|
Approvals:
|
|
Recommended By: |
|
Signed By: |
 |
|
Leon Fisher - Chief Financial Officer |
|
|
Signed By: |
|
|
Michael McFarland - Superintendent |
|
|
|
|
|
|
|
|