Smithville R‑II board approves second budget revision; district reports Clay County tax payment and increased insurance costs

The Smithville R‑II Board of Education approved the district’s second budget revision, which administrators described as showing only minor changes from the October budget but carrying some adjustments driven by insurance increases and bond‑related revenues.

The district reported it had received “just over $15,000,000” from Clay County in property tax receipts, which the presenters said will be invested in collaboration with MoCat to maximize returns. Administrators also reported an accounting correction: $932,000 of bond‑related dividend revenue from prior bond sales had not been recorded in last year’s budget documents and is now reflected in Fund 4 capital revenues. The presenters described that money as bond/capital funds intended for previously planned expenditures.

Presenters said the district still expects to finish the year with a reserve ratio near 19.6% and that much of the apparent deficit spend results from bond project spending. The finance discussion noted higher insurance costs, including added cybersecurity coverage and increases in property and liability premiums; administrators said they planned to solicit brokers to seek better rates.

The finance committee’s facilities discussion — previewed during the meeting — referenced Navitas findings and a potential capital projects range of roughly $3.5 million to $7 million for HVAC, roofing and parking‑lot lighting improvements. The board received the financial presentation and a motion to approve the second budget revision was made, seconded and approved.