FINANCIAL BUSINESS REQUEST (FBR)
Motion/Request:
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MOTION to authorize overspending Account #10110209-55245 (Insurance Deductible) through June 30, 2024.
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Background:
This account covers all CIRMA LAP (Liability, Automobile & Property) claims for the Town of Ledyard and Ledyard BOE. Please refer to attached Coverage Summary for a list of deductible amounts associated with coverage.
Outstanding Deductible Liability (Open LAP Claims):
A01862 (School Leaders Liability - $10,000 deductible) $9,507.26
A26054 (Law Enforcement Liability - $10,000 deductible) $0
A28738 (Law Enforcement Liability - $10,000 deductible) $7,045.75
A30239 (Auto Physical Damage Collision - $1,000 deductible) $1,000.00
A30907 (Auto Physical Damage Collision - $1,000 deductible) TBD
Total Outstanding Potential Liability as of 9/25/2023 $17,553.01
Department Comment/Recommendation:
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Finance Director Comment/Recommendation:
Account 10110209-55245 Insurance Deductible was budgeted at $10,000 for the year ending June 30, 2024. The current, unencumbered remaining balance in this account is $413.16
Mayor Comment/Recommendation:
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