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District 186 adopts amended FY25 budget, approves Aetna stop‑loss policy and stadium bleacher repairs
Summary
The board adopted an amended FY2025 budget, approved Aetna individual stop‑loss insurance at a $500,000 attachment point, and approved a $55,338 change order to reinforce Memorial Stadium bleachers. The business report showed capital project balances and outstanding state vouchers.
Springfield Public Schools District 186’s board on Tuesday adopted an amended fiscal 2025 budget, approved an individual stop‑loss insurance policy through Aetna and authorized a contract change order to reinforce bleachers at Memorial Stadium.
The board approved the amended budget in a roll call vote, and later approved Aetna for individual stop‑loss coverage with a $500,000 per‑person attachment point and a premium of $2,197,371; the stop‑loss vote was recorded as six ayes and one present. The board also approved a $55,338 change order for underside cleat work on existing stadium bleachers.
Business manager Miller opened the financial update by reporting outstanding state payments of $462,815.68 as of April 30, 2025, and a capital projects fund ending balance of $46,002,040.46 as of March 31. “The district received $1,350,788 in sales tax receipts in March,” Miller said, noting the sales‑tax receipts are applied to bond principal and interest for the district’s capital projects.
Miller told the board the next county facility sales‑tax bond payment of $9,276,919 is due June 1 and that the district’s savings account should be sufficient to cover that payment. He also summarized capital project activity and bond draws for March.
On insurance, presenters said the district’s stop‑loss premiums declined from about $3.4 million last year to $2.197 million under the Aetna bid; the presentation described two assigned lasers — $1,000,000 and $550,000 — and maintained the $500,000 attachment point. The presenters said the committee and staff recommended Aetna after an RFP process.
During the public hearing on the amended budget, members of the public raised questions about the district health‑insurance fund deficit and longer‑term deficit reduction plans; staff said the district is seeking to bring the self‑insurance fund to break even by raising premiums and pursuing contract changes and separate stop‑loss procurement. The superintendent and business manager said the district is projecting to end the fiscal year with expenditures near 95% of budgeted spending, an outcome that would lower the year‑end deficit to roughly $10 million from earlier forecasts.
The bleacher change order — described by district staff as a proactive reinforcement of 20‑year‑old bleacher undersides rather than a full replacement — passed on a unanimous vote.
The board approved the amended budget and insurance resolutions by roll call as recorded in board proceedings; staff said the amended budget and the stop‑loss policy are intended to stabilize the district’s self‑insurance fund and to keep capital projects on schedule.
