GARDEN CITY, Kan. (KSNW) – Garden City Community College says it is facing a significant fiscal impact due to rising costs in maintaining its liability insurance coverage.
The Board of Trustees members met Tuesday.
GCCC President Dr. Ryan Ruda told them the school’s annual premium and deductible would be increasing by approximately $494,000 compared to last year.
He said GCCC must pay an annual premium of $325,000 and budget for the deductible of $250,000 in the fiscal year ahead.
This compares to a 2019-20 premium and deductible of $30,549 and $50,000, respectively, according to the GCCC president.
“Our insurance broker sent the insurance proposal to over 50 companies to bid on our policy for this next year,” Dr. Ruda told trustees. “Out of 50, only one responded and submitted a proposal. This is due to the number of claims which have pushed GCCC to be designated as a high-risk category.”
The school has faced lawsuits in recent years and has been investigated over the death of a football player Braeden Bradforth, 19.
Ruda says he and the GCCC leadership have tried to find solutions without impacting current employees or their salaries.
He said they’ve found at least $510,000 from the upcoming fiscal year budget through employee attrition, retirement, and resignations.
At least 11 open positions have been eliminated or put on hold to ensure cost savings, and an additional $40,000 in savings will also be achieved through reduction of athletic team travel in the academic year ahead, Dr. Ruda said.
For more information visit https://www.gcccks.edu/events/board_of_trustees_ss_062520.aspx.