School Board wrestles with SAVE fund

In some ways, the SAVE Fund is a catch-all account for New Hampton Community Schools.

It funds technology purchases, it helps the district buy new school buses and it pays a portion of the bonds that were purchased so that the district could build its new middle school, industrial technology and vocational agriculture center and competition gymnasium.

So when New Hampton girls track coaches Jeanette Laures and Brian Schmitt came to update the School Board last Monday on the condition of the school’s track,

Superintendent Jay Jurrens reminded board members just how many items come out of the SAVE Fund, which used to be called the Local Option Sales Tax (LOST) fund and is now funded by the statewide “penny” sales tax.

“We have a lot of things coming out of SAVE — the referendum payments, the technology, the buses, possibly the parking lot, the track — so we just have to watch that account,” he said. “It’s not that we can’t do some of these things, but we have to keep a close eye on it.”

The district will receive about $950,000 this year for its SAVE Fund, and Jurrens said on Friday that more than half of that — $500,000-plus — is reserved to help keep the referendum payments at or below $1.60 per $100,000 valuation.

And last week, the board voted to use $35,000 in SAVE Funds for computer purchases and another $10,000 or so for updates to a high school science room.

— For more on this story, see the Oct. 26 Tribune

New Hampton Tribune

121 West Main Street
New Hampton, IA 50659
Phone: (641) 394-2111

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