SAU 21 Article 6:  Health Care Expendable Trust Fund

SAU 21 Article 6: To see if the School District will vote to raise and appropriate $75,000 to be added to the existing Health Care Expendable Trust Fund, with up to $75,000 to be funded from the June 30, 2020 unassigned fund balance available for transfer on July 1, 2020. No additional amount to be raised from taxation. (Majority vote required.)

What it means:  The Health Care Expendable Trust was established for the purpose of funding and safeguarding the school district against increasing health insurance premium costs, or unanticipated health insurance related expenditures. The Health Care Expendable Trust also allows for mitigation of large potential budget increases due to rising health insurance rates. The target for the fund is $300,000 and the current balance is $$154,029.

Those in favor say: Funding for the Health Care Expendable Trust comes from any potential available year-end fund balance, i.e. not raised via additional taxation.  It is wise to set this money aside so that as unexpected costs arise, the District is prepared.

Those against say: No one spoke against this Article at Deliberative Session.

Fiscal Impact: No additional amount to be raised from taxation.