Several financial decisions were made at Monday’s Mid-Prairie Board of Education meeting. Discussion was held to refinance Mid-Prairie’s infrastructure, sales, service and use tax refunding bonds. The board agreed upon a proposal from J.P. Morgan to buy several bonds from the school with an 1.82% interest rate. This $3,189,000 deal is non-callable and will reach final maturity in 2028. Savings from this proposal add up to $327,965. 

 A resolution was passed in the same meeting to increase additional allowable growth for the school’s special education program by $505,000. This increases the amount of money the school can spend on special education. This will not cost taxpayer money and will prevent the district from having to dip into its general funds to cover program expenses. Also passed was a $29,000 increase to additional allowable growth for Mid Prairie’s limited English proficiency program. Superintendent Mark Schneider explains that losses in these areas are expected and not cause for concern, “I would venture to guess that most school districts in the state of Iowa run a deficit in their special education spending.” The board next meets October 14th at the district’s main office.