The Ste. Genevieve Co. R-II Board of Education meeting on December 17, 2024, spotlighted a significant concern: soaring insurance costs driven by severe weather impacts. The board discussed the alarming trend of increasing premiums for property liability and workers' compensation insurance, which have surged dramatically over the past few years.

Insurance representative insights revealed that the district's renewal rate for the upcoming year will hit $472,290, marking a staggering 34.6% increase from the previous year. This rise is attributed to a series of severe storms that have affected multiple districts across Missouri, leading to a spike in claims and reinsurance fees. The board noted that all roofs in the district were impacted by hail damage, contributing to the financial strain.

In response to these challenges, the board is exploring alternative insurance options. Discussions included reaching out to other school districts that have successfully managed to keep their rates stable, indicating a potential shift away from the Missouri United School Insurance Council (MUSIC), which currently covers the majority of districts in the state.

The meeting also touched on the district's financial health, with the annual audit revealing that the financial statements are accurate and compliant with state regulations. The general fund balance remains robust at $11.8 million, representing 42% of expenditures, well within the recommended range.

As the board navigates these financial hurdles, the focus remains on ensuring adequate coverage while managing costs effectively. The anticipated discussions with other insurance providers could lead to a strategic shift aimed at stabilizing future premiums.