The Smithville School District Board of Education convened on December 11, 2024, to discuss critical financial matters, including a significant increase in workers' compensation insurance premiums and the district's ongoing capital improvement projects.

One of the most pressing issues addressed was the anticipated rise in insurance premiums, which is expected to increase from $160,000 to approximately $193,000, resulting in a $33,000 hike. This increase is attributed to a combination of factors, including a payroll increase and a higher experience modification factor due to elevated claims in the past two years. The board discussed the implications of these rising costs and the necessity of maintaining adequate coverage without lapses, despite concerns about compliance with the district's request for proposals (RFP) policy.

Board members expressed differing opinions on the current insurance provider and the process of obtaining quotes. Some members voiced concerns about the lack of a competitive bidding process, while others emphasized the urgency of securing coverage to avoid financial risk. Ultimately, the board voted to proceed with the recommended insurance option, which includes a higher deductible to help mitigate costs.

In addition to insurance discussions, the board reviewed the district's financial health, noting a predictable revenue stream from local property taxes. They also highlighted the importance of maximizing returns on these funds through strategic investments.

The meeting also focused on capital improvement projects, with the board discussing a comprehensive list of needs identified through community engagement and strategic planning. Members expressed optimism about the district's progress in addressing facility needs, including potential upgrades to sports facilities and classroom environments. However, some board members raised concerns about the adequacy of community input and the need for more detailed financial breakdowns before moving forward with specific projects.

As the board prepares for a bond election in April 2025, they are committed to ensuring that the proposed projects align with community needs and expectations. The discussions underscored the importance of transparency and stakeholder engagement as the district navigates its financial and infrastructural challenges. The board plans to continue refining its approach to capital improvements and insurance procurement in the coming months, aiming to foster a collaborative environment that prioritizes the needs of students and the community.