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Indianola district reports healthy finances, $20M capital balance and $28M sales-tax/bond proceeds for high school project
Summary
District financial staff reported the general fund remains within budget, the capital projects fund has roughly $20 million available for the high‑school project, and sales-tax/bond proceeds of about $28 million have funded buses, a new fuel tank and ball‑field work.
District financial staff told the board the general fund is within budget and is expected to show a positive balance at year end. The management fund levy was described as $3 million this year, and the district reported holding a little over $20 million in the capital projects fund to be spent down before additional borrowing for phase 1B and phase 2 of the high‑school project.
Officials noted the sales‑tax/bond proceeds tied to the high‑school project amount to about $28 million; the record shows that some of those proceeds have been spent on two buses, a new fuel tank and work on the district softball and baseball fields. Nutrition program staff continue free breakfast offerings and the self‑insured health insurance and workers' compensation funds were reported to be in healthy condition, supporting a 0% health‑insurance increase for the coming year.
The board discussed phasing and anticipated capital expenditures for the next project stages but did not take additional action on borrowing at this meeting. Staff will return with further financial updates as phase‑by‑phase work proceeds.
