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District financial update: fund balance on target; self‑insurance contribution to Fund 5 noted
Summary
Finance staff and district leaders told the board the district remains on track for a 17% ending fund balance, highlighted a large one‑time contribution to Fund 5 for self‑insurance obligations and said rebates and stop‑loss recoupment could reduce the outlay.
Kearney R‑I finance staff reported the district is on track to meet a 17 percent ending fund balance target but told the board Fund 5 (insurance) will require a sizable contribution this year to cover program costs.
The board was presented a fund balance report indicating the district plans roughly a $500,000 contribution to Fund 5 this year to cover self‑insurance obligations; staff said rebate payments and stop‑loss insurance recoupments could offset a portion of that amount. The presenter identified the expectation of receiving some rebates and said a conservative estimate was roughly $250,000 in rebates by the end of the school year, though she cautioned exact amounts were not yet received.
District administrators also noted the shift to self‑funding insurance and compared the district's approach to other metropolitan districts that chose not to alter their insurance models and faced 20–30 percent rate increases. The report said the district has met with the broker TrueScripts to review options and timing for recoupment.
In the superintendent’s report, leadership said the district had reinstituted alternative methods of instruction (AMI) following a winter storm, citing Senate Bill 727 as part of a state legislative conversation; administrators said two bills had been filed that could affect how inclement weather days are treated if a district approves a longer school calendar but did not provide bill texts or outcomes. Those legislative items were presented as matters the district will continue to monitor.
No formal action was taken on the financial report during the meeting; board members asked questions and staff agreed to continue monitoring Fund 5 and the rebate timeline.
