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Stewartville board approves higher insurance premiums, certifies levy cap and adopts minor policy edits
Summary
The Stewartville Public School District board approved a renewed insurance package with higher premiums and deductibles, certified its maximum levy authority for 2025 collection, accepted community donations for school supplies, and adopted minor editorial policy updates. The insurance vote followed discussion of recent claims and fiscal impacts on reserves.
The Stewartville Public School District Board of Education voted to approve its insurance renewal and several routine items during a regular meeting that included levy certification and policy edits.
Superintendent (speaker labeled Superintendent) told the board the district’s recent loss history — including a November 2022 water-damage claim of about $243,000 and a roof claim of roughly $190,000 — and a 15% adjustment to insured property values contributed to a premium increase. “We’re having an increase in our premium rate of just over $64,000 or about 32%,” the Superintendent said, explaining the district’s total premium is roughly in the mid‑hundreds of thousands and noting increases in property valuations and broader market trend as drivers.
The renewal also raises deductibles: general perils to $25,000 and roof deductibles that vary by building (the middle and high school roof deductible was described as $75,000, Bear Cave $50,000, and central building $25,000). The Superintendent said the district needs to plan to hold assigned funds to cover those deductibles rather than borrow to pay them. Board members discussed possible use of long‑term facility maintenance (LTFM) funds or assigned general‑fund balances to handle deductibles and cautioned about the effect on reported fund‑balance percentages.
After questions from board members about how multiple building claims would be handled and whether deductibles stack across sites, the board voted to approve the insurance coverage brought forward by North Risk Partners. The motion to approve the insurance renewal passed on voice vote, 6–0 (one member absent).
On related business, the board certified the maximum levy authority for the 2025 collection year, a routine procedural step that allows the district to set a levy once state‑verified October 1 enrollment is finalized. The Superintendent explained the final levy will be determined after the state verifies enrollment and formulas run on that figure; the truth and taxation meeting is scheduled for Dec. 9.
The board also adopted editorial updates to two policies (4.13 and 5.22) that replace a named HR coordinator with the position title to avoid renaming policies when personnel changes. Board members characterized these as minor, clerical updates; the motion carried 6–0.
Separately, the board accepted a resolution to receive several community donations for school supplies from local groups including the Sweet Cruisers, the American Legion (and its auxiliaries), FedEx, and area churches. The Superintendent said the donations will be used “to benefit students” and expressed appreciation for community support. That resolution also passed on a unanimous voice vote of members present.
The meeting adjourned at 7:44 p.m.
