Board hears budget timetable, insurance premium uptick and teacher-pay bills; Impact Aid CDs due to renew

At the meeting the board received updates on budgeting, benefits and pending legislation. Amy, the business manager, said staff have submitted requisitions for FY25 and administration will assemble a preliminary budget for review after the April 10 meeting; the preliminary budget must be approved at the May board meeting.

Amy reported the district participates in a self-funded medical insurance pool covering several districts; the pool board approved roughly a 4% premium increase effective in July. She said the most common single plan would increase by about $30 per month and family coverage could increase by roughly $40–$70 per month, depending on plan choice. Amy said actuaries expected a higher increase given market trends, so the 4% rise was favorable in context.

Amy also reported two Impact Aid CDs (one at First Interstate Bank and one at Black Hills Federal) are set to renew in April; Black Hills Federal's three-month rate was cited at about 4% at the time of the meeting. Administration will report options and rates to the board in April so the board can decide whether to reinvest in CDs or move funds into money-market accounts.

On legislation, the superintendent highlighted two teacher-pay bills: HB1048 (reported as tabled) and SB127 (active). Both bills would set a $45,000 teacher base and SB127 would also tie teacher compensation increases to the same percentage the state increases funding each year. The superintendent told the board the district's current base sits around $44.05 and that benefits are included in the compensation calculation. Board members discussed how the bills could affect payroll and budgeting if they move forward.

No formal votes were taken on budget or legislative matters during the meeting; the board directed administration to continue work on requisitions and to present budget materials at the next meetings.