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Meeting Date:
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7/15/2024 - 5:15 PM
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Category:
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Action Items - New & Unfinished Business
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Type:
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Action
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Subject:
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Approval to enter into the Associated School Boards Property Insurance Fund
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Strategic Plans:
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Enclosure
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File Attachment:
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Summary:
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By being a member of the Associated School Boards Property Liability Fund, we will have the protection of being a member of a Governmental Risk Pool. Our district will share risk from catastrophic losses with over twenty other South Dakota School Districts. The ASB Property Liability Fund is built on serving only South Dakota School Districts and their interests. They differ from commercial insurance carriers because they do not have a profit margin to meet. Any "profits" the property/liability fund earns over time stays with the fund to help offset future premium increases. ASBPT does not non-renew districts that have losses, as the fund is a long-term solution.
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Funding :
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Recommendation:
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The Superintendent recommends approval to enter into the Associated School Boards Property Insurance Fund.
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Approvals:
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Recommended By:
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Signed By:
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Amanda Kesteloot - Executive Assistant to the Superintendent
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Signed By:
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Summer Schultz - Superintendent
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Vote Results:
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| Original Motion | | Member Wesley Tschetter Moved, Member Keli Books seconded to approve the Original motion 'The Superintendent recommends approval to enter into the Associated School Boards Property Insurance Fund.'. Upon a Roll-Call Vote being taken, the vote was: Aye: 4 Nay: 0 Abstain: 1. | | The motion Carried 4 - 0 | | | | | Debra DeBates | Yes | | Wesley Tschetter | Yes | | Keli Books | Yes | | Teresa Binkley | Yes | | Teri Johnson | Abstain | |
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