DEPARTMENT: Pre-K 4 SA
DEPARTMENT HEAD: Kathy Bruck, CEO
SUBJECT:
Renewal of Insurance Brokerage Services Contract
SUMMARY:
Possible Board approval for Pre-K 4 SA to renew the current contract with McGriff, Seibels & Williams of Texas, Inc. for consulting and insurance brokerage services through September 30, 2015 with annual compensation not to exceed $27,500.00 and monthly compensation not to exceed $2,291.66 [Kathy Bruck, Pre-K 4 SA CEO]
BACKGROUND INFORMATION:
On behalf of Pre-K 4 SA, the City issued an informal request for proposals in March 2013 and entered into a contract on April 8, 2013 with the insurance broker McGriff, Seibels & Williams of Texas, Inc. Staff coordinated with the broker to prepare applications for insurance coverage to secure the necessary coverage.
The contract had an initial period beginning April 1, 2013 through March 31, 2014. The agreement included a one-year renewal option and the right to extend the contract on a month-to-month basis not to exceed 180 days. On November 4, 2014 the contract was renewed until March 31, 2015. Pre-K 4 SA requests to exercise the right to extend the current contract for an additional 180 days through September 30, 2015.
ISSUE:
This item will include a staff briefing and possible Board action to approve for Pre-K 4 SA staff to renew the contract through September 30, 2015.
ALTERNATIVES:
Should this contract not be approved Pre-K 4 SA would be without insurance brokerage services.
FISCAL IMPACT:
Funds are budgeted and available in the FY 2015 Pre-K 4 SA Operating Fund as approved by the Corporation's Board of Directors.
RECOMMENDATION:
Staff recommends that the Board approve for Pre-K 4 SA to renew the current contract for insurance brokerage services from McGriff, Seibels & Williams of Texas, Inc. through September 30, 2015.