Board reviews $30M in bond proceeds, approves monthly finances and dropout-prevention funding
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Summary
Board members reviewed placement of $30,000,000 in recent sales-tax bond proceeds and discussed a projected $750,000 budget shortfall tied to roughly 90 fewer students; the board approved the monthly financial report and a MAGDOP (dropout-prevention) funding allocation, both by unanimous voice vote.
Board finance presenters told the Indianola Community School District board the district recently received $30,000,000 in sales-tax bond proceeds. According to the discussion, approximately $25,000,000 was placed in a district fund described in the packet as an 'ISJET' fund and about $5,000,000 was held at Peoples Bank. Trustees discussed reconfiguring parts of the budget to reflect construction progress and a projected $750,000 shortfall driven primarily by an enrollment decline of about 90 students.
The board approved the monthly financial report after a motion and second; the chair announced the motion carried by voice vote, 5–0. No further changes to IPERS contributions were made after staff exploration.
On a separate action, the board approved the district’s Modified Allowable Growth — Dropout Prevention (MAGDOP) funding. Staff described MAGDOP as supporting at‑risk programming across the district, including the high-school online learning program, reading interventionist positions not covered by Title I, portions of counselor and dean-of-students time, and allocations tied to school resource officers. The motion to approve MAGDOP was moved and seconded and carried by voice vote, 5–0.
The board did not record any dissenting votes or additional conditions on these approvals during the meeting.