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Meeting Date:
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6/13/2016 - 7:00 PM
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Category:
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Business/Action Items
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Type:
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Action
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Subject:
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18.9 Resolution 15/16-50 regarding Schools Excess Liability Fund ("SELF") Joint Powers Agreement.
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LCAP (Local Control Accountability Plan) Goal:
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Enclosure
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Resolution 15/16-50 to Join SELF effective July 1, 2016 and SELF Joint Powers Agreement
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File Attachment:
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Summary:
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The District's liability insurance program is due for renewal. This Resolution is required for the District to participate in SELF's insurance pool and enter into a Joint Powers Agreement for an excess insurance layer from $5,000,001 to $55,000,000. It provides $5,000,000 greater insurance limits (up to $55,000,000) and may save the District approximately $79,084. The District's self-insured retention would remain at $250,000 and its initial excess layer would remain at $250,001 - $5,000,000 with CSAC-EIA.
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Funding:
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General Fund
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Fiscal Impact
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The District's insurance broker, Alliant Insurance Services, calculated funding at an exact renewal on an actuarial basis at $1,159,000. This alternative would be calculated on an actuarial basis at $1,079,916.
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Recommendation:
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Approve Resolution 15/16-50 to Join SELF effective July 1, 2016.
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Approvals:
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Recommended By:
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Signed By:
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Lori Amenta - Administrative Assistant
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Signed By:
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Donald A. Velez - General Counsel
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Signed By:
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Wayne Oetken - Business Services
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Signed By:
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Dr. Nellie Meyer - Superintendent
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