The District received some exciting news this week regarding the approval of a substantial one time matching grant in the amount of $979,379.
Various opportunities are available to government agencies that have self-funded health insurance plans. Guided by the District’s health insurance consultants, AssuredPartners, the District made the move to a self funded plan during the 2021-2022 school year. This move included participating with the Capital Region Pharmacy Coalition which is integral in negotiating pharmaceutical costs. Operating as a self-funded plan and capturing prescription savings qualified the District to participate in the County Wide Shared Savings Plan.
The District remains committed to the continual review of processes and programs that promote efficiencies and overall fiscal responsibility. Receiving this grant is a win for the school community and serves as a great example of our determination to continue looking for ways to strengthen the District's financial position. The District is currently consulting with our auditors and legal council to determine allowable usage of this one time revenue. In the future, a recommendation will be presented to the Board of Education on the potential utilization of these funds.