HomeMy WebLinkAboutDocumentation_Regular_Tab 08_09/10/2009~`~ VILLAGE OF TEQUESTA
~~'~ AGENDA ITEM TRANSMITTAL FORM
1. VILLAGE COUNCIL MEETING:
Meeting Date:
September 10, 2009 Meeting Type: Regular Ordinance #: ~;;s~,k ia~~~~~ ~c~ ~r~t~s- text
Consent Agenda: Yes Resolution #: ~~'lick fie; ~ t~ ~~a~r t~~~;x
Originating Department: Human Resources
2. AGENDA ITEM TITLE: (Wording form the SUBJECT line of your staff report)
Approval for the renewal of a 1-year agreement with the Florida Municipal Insurance Trust (EMIT) for Property,
Liability, Automobile and Workers' Compensation
3. BUDGET /FINANCIAL IMPACT:
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Account #: Various Amount of this item: ,inclusive of 5% in broker
fees, and an additional $500 for premium increases for new autos
Amount Budgeted for 2009/10 ___. Amount Remaining after item: -$Q;~67~'f-0
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Budget Transfer Required: No Appropriate Fund Balance: No
4. EXECUTIVE SUMMARY OF MAJOR ISSUES: (This is a snap shot description of the agenda item)
Consideration and approval of $= r Property and Casualty Insurance.
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5. APPROVALS:
Dept. Head: Finance Director: r 1,
Attorney: (for legal sufficiency) ~~I"9 1,~~ Yes ~ No
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Village Manager:
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• SUBMIT FOR COUNCIL DISCUSSION: ~ Y~ ; .`,
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• APPROVE ITEM: ^ N ~~"~'_,
• DENY ITEM: ^
Memo
To: Michael R Couzzo, Jr., Village Manager
From: Merlene Reid, HR Director
Date: August 17, 2009
Re: Property & Casualty Insurance Renewals 2009/10
have attached Florida Municipal Insurance Trust (EMIT} Property and Casualty
Evaluation schedule which shows a decrease in insurance premiums (inclusive of
5% broker fees) from $328,024 in FY2008/09, to $312,457 (-4.8%) for the upcoming
2009/10 Fiscal year (Exhibit A). This schedule includes Workers' Compensation,
Automobile, Property and Liability insurance, including law enforcement and
employment practices liability.
In addition to the premium of $312,457 outlined, a further $500 is being requested to
cover the anticipated increase in automobile premium due to the purchase of a new
car in the police department and a new ambulance in the fire department, making a
total of $312,957.
The Village's decision to only insure properties in excess of $100,000 continues to
help keep property insurance premiums low. Additionally, the Village retains its 7%
credit for actively maintaining its Safety program and enforcing its drug free work
place policy.
Please note that for FY2008/09, EMIT will once again be making a Return of
Premium Credit, however, the amount being refunded is $14,657, 54.3% less than
the $32,066 returned for FY2007/08.
It is recommended that the Village renews the 2009/10 insurance with the Florida
Municipal Insurance Trust (EMIT).
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Reid, Merlene
From: Gload, Michelle
Sent: Monday, August 31, 2009 8:53 AM
To: Reid, Merlene
Cc: Forsythe, Jody
Subject: RE: Casualty Insurance
Merlene,
Numbers are rounded to the nearest tenth when entering them onto the budget worksheet. This is
probably where you are noticing the difference.
Michelle
From: Reid, Merlene
Sent: Friday, August 28, 2009 11:03 AM
To: Gload, Michelle
Cc: Forsythe, Jody
Subject: FW: Casualty Insurance
Michelle,
I'm still having problems reconciling the $323,020 that you have on the Agenda item which has been signed off
by Jody (copy attached). I have attached copies of the Budget Worksheets submitted to Finance for a total of
$322,524 as follows:
WC - $135,434
INS - 187 090
322 524
You are showing an increase of $496 which I cannot account for. If you have additional paperwork that
accounts for this difference, please send me a copy. Thanks.
Merlene
From: Reid, Merlene
Sent: Monday, August 17, 2009 11:09 AM
To: Reid, Merlene; Gload, Michelle
Cc: Forsythe, Jody; Couzzo, Michael
Subject: RE: Casualty Insurance
Update attached.
Merlene
From: Reid, Merlene
Sent: Monday, August 17, 2009 9:31 AM
To: Gload, Michelle
Cc: Forsythe, Jody; Couzzo, Michael
Subject: RE: Casualty Insurance
Reid, Merlene
From: Forsythe, Jody
Sent: Friday, August 28, 2009 2:03 PM
To: Reid, Merlene
Cc: Gload, Michelle
Subject: Insurance FY 2010
Attachments: Budget Worksheet 2010 WC Ins.pdf; Budget Worsheet FY 2010 Insurance.pdf
Merlene,
Please see attached and note that the budgeted amounts are rounded up to the next $10
Jody
Jo.4ww 1=orsi~the, C~~4
Finance Director
Village of Tequesta
561-575-6270
i forsvthe(c~teauesta. ors
www.Tequesta.or
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