ITEM TITLE:
Professional Services Agreement with Hale & Associates for Insurance Broker Services
SUBMITTED BY: Jordan Nelson, Finance Director
FISCAL NOTES:
Expenditure Required: $72,000; $36,000 per year for two years
Unencumbered Balance: $37,500
Funding Source: 001-5700-43200 Insurance Department; Professional Fees and Services
RECOMMENDATION:
Approve
SUMMARY STATEMENT:
This PSA reflects a fee schedule unchanged since 2019, and provides the organization stability and historic continuity through 2026 while navigating a changing landscape with respect to available municipal insurance pools in Alaska since the merger of Alaska Public Entity Insurance (APEI) and Alaska Municipal League Joint Insurance Agency (AMLJIA) to a single pool starting in 2025 named Alaska Public Risk Alliance (APRA).
The fee schedule is within the procurement authority for staff, however, the agreement involves Valdez City Schools and the insurance broker arrangement of the two entities, and therefore remains part of the public process for full transparency.
This agreement has been reviewed and approved to form by legal.