Grundy County Insurance Trust Met December 21

By Kristine Gonzales-Abella

Jan 28, 2021

Grundy County Insurance Trust Met Dec. 21.

Here is the agenda provided by the trustees:

I. Call to Order

Attendee Name

Title

Status

Arrived

Millie Dyer

Board Member

Present

Ann Gill

Board Member

Present

Eric Rasmusson

Chair

Present

Deb Warning

Board Member

Absent

Debra Jo Kinsella

Board Member

Present

Drew Muffler

Vice Chair

Present

James Olson

Board Member

Present

The Grundy County Insurance Trust meeting was called to order at 4:30pm. Also attending were: George Gray, County Administrator; Matt Melvin, Financial; Mary Kucharz, Human Resources; Dian Brown, Health Department Director of Office Management. This meeting is being recorded.

II. Public Portion

none

III. Approval of Minutes

IV. Claims

No Claims to be approved.

V. CIRMA Renewal Invoice

1. CIRMA Invoice

The Renewal Premium Invoice 2020-2021 in the amount of $262,023 was approved for payment. G. Gray stated this is for liability, property, auto and general liability insurance coverage.

RESULT: APPROVED [UNANIMOUS]

MOVER: Drew Muffler, Vice Chair

SECONDER: Ann Gill, Board Member

AYES: Dyer, Gill, Rasmusson, Kinsella, Muffler, Olson

ABSENT: Warning

VI. FY2020 Financial Report

1. FY2020 Financial Reporting

M. Melvin reviewed the 2020 Insurance Trust Balance sheet with the committee. Beginning balance of $4,212,829.82 plus revenues of $992,906.67 less expenditures of 1,379,954.13 with a ending balance of $3,825,782.36 with a net loss of (387,047.46). M. Melvin stated there were no actual detailed internal financial records kept in FY20 or prior.

VII. FY2021 Budget Report

1. FY2021 Budget Report

M. Melvin reviewed the projected FY21 Grundy County Self-Insurance Trust. Starting balance of $3,825,782.36 with revenue of 493,023.00. Projected expenses of 1,087,523.00 with a net loss of (594,500.00). M. Melvin asked the committee for a motion to approve the FY21 Self-Insurance Trust budget as presented. A budget is not a statutory requirement but is good practice. In previous years there was minimal internal tracking done.

RESULT: APPROVED [UNANIMOUS]

MOVER: Debra Jo Kinsella, Board Member

SECONDER: Millie Dyer, Board Member

AYES: Dyer, Gill, Rasmusson, Kinsella, Muffler, Olson

ABSENT: Warning

VIII. Old/New Business

1. Appointment of the Grundy County Insurance Trust

Resolution was presented to appoint members of the Grundy County Finance Committee, Eric Rasmusson, Drew Muffler, Millie Dyer, Deb Warning, Ann Gill, Jake Olson and Debra Jo Kinsella to the Grundy County Insurance Trust for a two year term expiring November 30, 2022. Motion to forward on to January County Board meeting for appointment was made.

RESULT: REFERRED TO COUNTY BOARD [UNANIMOUS] Next: 1/12/2021 6:00 PM

MOVER: James Olson, Board Member

SECONDER: Ann Gill, Board Member

AYES: Dyer, Gill, Rasmusson, Kinsella, Muffler, Olson

ABSENT: Warning

IX. Executive Session

none

X. Action Taken as a Result of Executive Session

XI. Adjournment

1. Motion to adjourn the December 21, 2020 Grundy County Insurance Trust

The December 21, 2020 Grundy County Insurance Trust meeting was adjourned at 4:37pm. The recording was stopped.

RESULT: APPROVED [UNANIMOUS]