In a recent government meeting, officials discussed significant financial decisions regarding insurance and legal expenses. A proposal was made to increase the insurance deductible from $175,000 to $350,000, which is projected to save approximately $231,000 annually. This recommendation comes as the current insurance premiums are expected to rise by 8% if no changes are made. The administration is considering moving to Lloyd's of London for coverage under the new deductible structure.
Additionally, the meeting addressed a budget amendment request related to legal expenses incurred during the ongoing certificate of need hearings. Officials highlighted the need for additional funding to cover attorney fees, expert testimony, and other related costs. A previous budget amendment of $500,000 had already been utilized, and further clarification was requested regarding the overall spending on legal fees to date. The council is seeking a detailed accounting of these expenses to determine the necessity of the new amendment.
The meeting also included a routine agenda item concerning an easement agreement with Alabama Power for the relocation of a power pole related to the Power Station 1 project, which was described as a standard procedure.
Overall, the discussions reflect ongoing efforts to manage financial resources effectively while addressing essential operational needs.