BOARD FINANCE COMMITTEE MEETING MINUTES

                                                            JUNE 7, 2004

 

Chairperson Charlene Koch together with Board Members Loretta Leeson, Margaret Williams, Rosario Amato, Craig Haytmanek, Julie Venanzi, William Heske, Joseph Craig and Diane Rowe met with Superintendent Joseph Lewis, Director of Business Affairs Stanley Majewski, and Associate Superintendent Michele Kostem, in Superintendent’s Conference Room A. Also in attendance were Genevieve Marshall from the Morning Call and Gregg Bortz from the Express Times

 

OPEN FORUM – Mr. Craig advised the board that the exit interview with the state auditors will be held on Thursday, June 17, 2004, at 2:00 p.m. Everyone is encouraged to attend.

 

TUITION RATES FOR CHILD CARE PROGRAM – Mr. Majewski presented proposed tuition rates for the district’s child care programs. The rates reflect an average increase of 2 percent and will allow the district to remain competitive with other child care providers in the Lehigh Valley. The increase will also properly align the district’s rate schedule with Title 20 Fund Administrators.

 

INSURANCE PROPOSALS – Mr. Majewski presented insurance proposals for the following:

 

                                    Student Accident Insurance $18,300

                                    Stocker, Hoffman & Schantz Insurance Company

Boston Mutual Life Insurance Company

 

Mr. Majewski stated that this is the company we are currently dealing with. There is not a huge market for this type of insurance coverage and the district is satisfied with the handling of claims by Boston Mutual.

                                   

Package Systems & Breakdown/Commerical Auto $427,743

                                    Myers Benner Insurance Corporation

                                    Peerless Insurance Company

 

The district has been dealing with Myers Benner Insurance Corporation for quite some time and is satisfied with the handling of claims. Myers Benner’s proposal is $32,185 less then last years and $82,154 less than the other quote received from Stocker, Hoffman, & Schantz. Mr. Majewski will recommend that the district renew the policy with Myers Benner at the June 28, 2004, Regular Board Meeting.

                                               

School Board Legal Liability

                                                Stocker, Hoffman & Schantz Insurance Company $105,936

                                                PSBA Insurance Trust

Myers Benner Insurance Corporation                  39,711

Peerless Insurance Company

 

Mr. Majewski discussed with the committee the differences in costs between the two proposals. Attorney Tucker is looking into school districts that have insured with Peerless Insurance Company for School Board Legal Liability coverage and will report back to Mr. Majewski. Mr. Majewski will conduct a similar review of references, as well as, obtain additional information on policy limits. Limits and coverages vary from company to company and the district should be cautious before choosing the least costly policy unless all coverages are comparable. A final recommendation will appear on the June 28, 2004, agenda for approval.

 

The meeting adjourned at 7:50 p.m.

 

Minutes prepared by _________________________________________________________

                        Adele Embardino, Confidential Secretary to the Director of Business Affairs