Canton, Massachusetts · Saved source text
Article 11 - Insurance Proceeds pdf file
Saved text from 2 source pages. Transcription and OCR may contain errors; verify figures and wording against the original. Retrieved 2026-10-15.
Source page 1
ATM 2022
ARTICLE 11
INSURANCE PROCEEDS
NEW MOTION
Moved that the sum of Two Hundred Forty-
Five Thousand Forty-Three Dollars and Fifty-
Four Cents ($245,043.54) be
appropriated with the intent that such funds
so appropriated be available in FY 22, to be
spent by the School Department Director of
Finance and Operations with the approval of
the School Committee in connection with
insurance recovery from losses suffered
from the Galvin Middle School water break
and that to meet this appropriation, the sum
of Two Hundred Forty- Five Thousand Forty-
Three Dollars and Fifty-Four Cents
($245,043.54) be transferred from the
Insurance Reimbursement Fund #173 to the
School Department Account #42209002-
52400 (Repair/Maintenance of Buildings).Source page 2
Claim Information Limits Comment
Claim No.: E3880599 Building $ 4,124,791
Policy No.: 6022954573 BPP $ 617,202
Insured: Town of Canton $ -
Date of Loss: 10/14/2021 $ -
Loss Location Street: 801 Washington St $ -
Loss Location City: Canton $ -
Loss Location State MA $ -
Loss Location Zip O2021 $ -
Cause of Loss: Water
Underwriting Co: Continental Casualty Company $ -
Deductible: $25,000.00 BINT Time Limit, If any:
STATEMENT OF LOSS
Building
Description Replacement Cost Depreciation Actual Cash Value Comments
Emergency structural drying and demolition $ 136,247.03 $ - $ 136,247.03
Overall Repair $ 108,892.67 $ - $ 108,892.67 All ceiling tile and duct wrap work
$ - $ - $ -
$ - $ - $ -
$ - $ - $ -
$ - $ - $ -
$ - $ - $ -
Subtotal -Building $ 245,139.70 $ - $ 245,139.70
BPP
Description Replacement Cost Depreciation Actual Cash Value Comments
Overall contents loss $ 14,400.98 $ - $ 14,400.98
Contents cleaning and Electronic Restoration $ 10,502.86 $ - $ 10,502.86
$ - $ - $ -
$ - $ - $ -
$ - $ - $ -
$ - $ - $ -
$ - $ - $ -
Subtotal -BPP $ 24,903.84 $ - $ 24,903.84
BINT ( BI/EE)
Description Amount Comments
$ -
$ -
$ -
$ -
$ -
$ -
$ -
Subtotal - BI/EE $ -
Payment(s)
Date Coverage Payee Amount Comment
4/14/2022 Building Insured $ 190,872.41 Part of overall $215,776.25 payment
44665 BPP Insured $ 24,903.84 Part of overall $215,776.25 payment
44686 Building Insured $ 29,267.29 Supplement
$ -
$ -
$ -
$ -
$ -
$ -
$ -
$ -
$ -
$ -
$ -
$ -
$ -
Payment Total $ 245,043.54
ADJUSTMENT OVERALL ADJUSTMENT SUMMARY
Building RCV: $ 245,139.70 TOTAL RCV: $ 270,043.54
Depreciation: $ - DEPRECIATION: $ -
Building ACV: $ 245,139.70 TOTAL ACV: $ 270,043.54
Payment(s): $ 220,139.70 DEDUCTIBLE: $ 25,000.00
Building BALANCE: $ 25,000.00
PAYMENT(s): $ 245,043.54
BPP RCV: $ 24,903.84 BALANCE: $ 0.00
Depreciation: $ -
BPP ACV: $ 24,903.84 Notes
Payment(s): $ 24,903.84
BPP BALANCE $ -
BINT: $ -
Payment(s): $ -
BINT BALANCE $ -
Deductible $ 25,000.00
Advance $ -
BALANCE: $ - Prepare by: Jason Deitzel
Prepare On: 5/5/2022