Board approves liability/workers' comp renewal and routine investment policy items

Kathy Henderson, the district chief financial officer, recommended the board renew liability and workers’ compensation coverage and approve routine investment governance items Thursday.

Henderson recommended continuing with the Regional Pool Alliance as the district’s self‑insurance pool for liability and workers’ compensation; trustees approved a payment of $288,317 to Regional Pool Alliance for the renewal period. Henderson said the pooled rate is not increasing and that the district budgets an additional self‑insurance fund to cover claims beyond the pool payment; historically the district has rarely exceeded the pool maximum.

Henderson also presented the annual review of the district’s investment policy (CDA local), noting a technical update that adds ‘‘investment pools’’ and related distributor/broker language. Trustees approved the recommended list of qualified financial institutions and brokers and the list of approved sources of instruction to satisfy training requirements for the district’s investment officers. The board confirmed the finance committee membership (Mr. Burton and Mr. O'Neill) for oversight of investment-related matters.

All items passed on unanimous votes; no changes to investment strategy were proposed. Henderson told trustees she is keeping more funds in short-term investment pools because those rates are currently competitive relative to longer-term instruments.