IOWA LGRP BACKGROUND
The Iowa Local Government Risk Pool Commission (Iowa LGRP) is organized under Iowa Code Chapter 28E, founded in the fall of 2019 by three originating K-12 public school districts in an effort to provide greater stability to school district budgets by pooling risks. Iowa LGRP is serviced by WoodRiver Energy & ISFIS, with decades of combined energy service experience working with Iowa schools and local governments.
A local government risk pool is a term used when governmental entities (such as cities, counties, or school districts) join together in a group to collectively reduce costs, increase their buying power, or reduce risks. A local government risk pool can be made between multiple school districts, between a school district and a city, or between various combinations and numbers of local governmental entities. The term local government risk pool is used and referenced in federal and state legislative code. There are many examples of local government risk pools which involve Iowa school districts, such as cash management programs, health insurance pools, and many more.
Currently, Iowa LGRP offers only one program, called the Education Energy Group Program, a natural gas risk management program for Iowa public school districts. Iowa LGRP does not intend to create any other programs or invite governmental entities other than Iowa public school districts into the organization at this point in time, though the 28E Agreement authorizes it to do so. The Board of Directors would have the authority to expand programs in the future.