12-16-2014 Regular School Board Meeting
Agenda Item #21


Title
2013-2014 Excess Worker’s Compensation Additional Premium Payment

Discussion
The Office of Risk Management procures an Excess Workers' Compensation policy to cover losses in excess of the District's self-insured retention of $500,000 per claim. During fiscal year 2013-14, the premium for this policy was $315,360 based on estimated wages to be paid to staff during the fiscal year subject to audit once all wages were actually paid. The audit was performed the middle of November 2014 resulting in an additional premium charge of $29,766.

Recommendation
Approve the request for the payment of additional Excess Workers' Compensation premium paid to Safety National in the amount of $29,766.

Meeting Date(s)
Consent w/o Information - 12/16/2014

Authority for Action
F.S. 440, Board Policy 8710

Involves Expenditure of Funds Directly in the Classroom
No

Source of Funding
Operating - Other

FY
Amount
Budgeted
Fund
Cost Center
Project
Function
Object
Program
14/15$29,766No71398550010027500775000

Contact
Mark Langdorf, Director, Office of Risk Management, Ext. 620 Judy Preston, Associate Superintendent of Financial Services, Ext. 600


Attachment:  2014-15 Excess Workers' Compensation Additional Premium Invoice.pdf