The Examiner U-46 News Feed

Varied expenditure items approved by U-46 board

By Seth Hancock
  The Board of Education in School District U-46 unanimously approved, via 7-0 votes, of $3.3 million in expenditure items at its Sept. 25 board meeting.
  Included was an item, $839,723 (tort fund) with Chubb Insurance, that was presented and approved the same evening.
  The item is for property insurance as the district’s previous insurance provider exited the school district property insurance market in August.
  “The district’s insurance broker Alliant reported that this is Year Five of a hard market cycle where insurance rates continue to increase, coverage options become more limited and underwriting standards continue to increase for most lines of coverage,” the proposal stated. “As a result of the hardening property marketplace, the district’s long-time property carrier, CNA, decided to exit the school district insurance property marketplace effective August 31, 2023.”
  The proposal added: “Alliant contacted carriers to obtain proposals for property coverage. The vast majority declined to provide a quote, most stating their price would not be competitive. Three carriers submitted quotes ranging from [$839,723 to $1,127,635]. Chubb Insurance provided the lowest quote, a 41.6 [percent] increase over the prior year’s cost with CNA. According to the district insurance broker, property markets have seen increases between 15 [percent] and 100 [percent].”
  Two education fund items were approved including a five-year contract renewal costing $2.2 million with Newsela for digital resources and $48,510 with the Illinois Principals Association for mentoring of 16 resident administrators.
  The remainder were operations and maintenance fund items including $161,617 with Game Time c/o Cunningham Recreation for a picnic pavilion at Streamwood High School’s Millennium Field, $89,211 with Alta Equipment to purchase a replacement skid steer and $43,447 with Vermeer Midwest to purchase a mini skid steer to add to the district’s current mini skid steer fleet, which includes one other purchased in 2020.
  Regarding the picnic pavilion, the proposal states the plan is to install one at all five high schools over the next five years.
  Also approved by a 7-0 vote was $11.4 million in itemized bills.