Insurance to Pay Part of Joplin Schools’ $30M Tornado Cost

The Joplin School Board has begun paying the massive bills caused by destruction from the May 22 tornado.

The school board approved payment of nearly $30 million for the month of July and about half of August. The district’s typical monthly bill is between $6 million to $7 million.

The Joplin Globe reports that the district is using insurance and Federal Emergency Management Agency reimbursements to help pay the bills.

The district’s chief financial officer, Paul Barr, says the damage from the tornado reduced the district’s assessed valuation by about $24 million. He says that could cause challenges for the district in the future, although the board voted to maintain the current levy for this school year.

Information from: The Joplin Globe

Topics Catastrophe Natural Disasters Windstorm