The North Nodaway school ended the year Monday with a $439,000 surplus, Superintendent Chris Turpin reported to the school board at the A&G Monday. As of June 30th, the school had $3,321,882.37 compared to $2,882,109.22 the previous year.
Local revenues were 113% higher than expected. County and state revenues were also higher than expected. The only category which was lower than expected was federal revenues, which were 95% of what was budgeted. Expenses were 94.55% of what was budgeted.
The biggest area of savings was in food service, which only spent 86.43% of what was budgeted. Turpin credited the staff for the figure; they had found ways to save on food purchases during the course of the year. He credited the board for the positive financial outcome. “We couldn’t do half of what we do without your support,” he told the board Monday.
The 2025-26 budget, passed by the board Monday, forecasts the school to be $180,000 to the good by the end of the school year. Turpin said the figures he gave were conservative, with federal revenues projected to be lower. Local revenues were projected to be lower thanks to the Senior Citizen Tax Freeze, which over 1,200 people in Nodaway County participated in following its passage by voters.
Pressures on federal revenues include fewer families applying for free and reduced lunches, which mean less revenues from the federal government, and no Title 2 money, meaning the school took a $7,000 hit. No Missouri school has gotten its Title 2 money this year.
President Donald Trump has signed an executive order abolishing the US Department of Education; however, that order is tied up in court. If it is abolished, the federal government will still be required to administer federal education programs that are called for by law; they would be handled by another agency.
Other changes which helped include the simplification of the pay scale and the elimination of three positions over the years. The school has 47 employees, down from 50 at one point.
State revenues were projected to be lower as well. Turpin estimated state revenues based on a 198 average daily attendance rate. Last year, the figure was 208. Governor Mike Kehoe signed the budget passed by the legislature this year, which means that the school will get 100% of Foundation Formula money and 75% of transportation revenues.
The figures could be affected by grant approvals. The school is waiting to hear back on some grant applications that they have submitted.
Items that the school is looking at fixing include a sidewalk which is funneling water into the school basement during heavy rains as well as a rooftop unit at the elementary that could go at any time. For the upcoming school year, the school is also looking at new gym flooring, more fencing, gym floor tarps, work on the parking lots, and replacing lights and ceiling tile in the hallways in both buildings.
The school is required to pay $209,565 a year in debt service money from the voter-approved bond issue. If revenues continue to grow, the school plans to pay down some principal so that they don’t have to pay as much each year or pay it off sooner. The school is scheduled to pay off the bond in 2042.
The projected school revenues in the upcoming budget approved by the board are estimated to be $4,049,621. Projected expenses are estimated at $3,869,098. For last year, revenues were $4,317,507.28 and expenses were $3,877,734.13. The board voted to zero out a $58,932.95 deficit in the Teacher Fund.
Capital projects are projected to be around $249,000. It will be paid for by tax revenues dedicated for that purpose as well as money that was carried over.
Despite rising salaries, there is only a net gain of $11,000 to all district salaries next year. Certified salaries were projected to rise around $2,081 per employee; however, the minimal expense is due to the school not filling vacant positions, lower salaries due to staff turnover, and the Baseline Teacher Grant, which was renewed by the legislature. Non-certified salaries were raised 5% plus a 13 cent increase in step service. The employee healthcare premiums did not increase that much, only amounting to $11 per employee per month.
The district is projected to meet salary compliance requirements. Revenues were budgeted by spending at least 75% of formula money (excluding Classroom Trust Fund monies), 75% of half of Proposition C money, and as many dollars per weighted ADA from local and county tax sources as the previous year.
The board, back in June, voted to invest $1 million into five CD’s for a term of 365 days. That interest will yield around $45,000. Future interest rates could be lower, as President Donald Trump is pressuring Federal Reserve Chair Donald Powell, who he nicknamed “Too Late” Powell, to lower interest rates to stimulate the economy.
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