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Board hears LTFM update; FY26 plan shows small shortfall and planned projects for next years
Summary
Staff updated the board on the long-term facilities maintenance program, reporting projected FY26 expenditures of roughly $2.9 million against revenue of about $2.7 million and a reserved LTFM fund balance of $700,000 to cover the shortfall; near-term projects include elevator controls and a Meadowview retractable wall replacement.
The board received an update on the district’s Long-Term Facilities Maintenance (LTFM) program and the 10‑year reporting process required by the Minnesota Department of Education.
Staff explained that the LTFM formula includes building age and enrollment components and has both an aid (state) and levy (local) portion; for Farmington, roughly 51% of LTFM funding comes from the local levy and 49% from state aid, the presenter said. Using the most recent MDE figures (which staff noted were based on FY24 data because the legislature’s work was not complete), the district is projecting roughly $2,900,000 in LTFM expenditures against about $2,700,000 in revenue for the upcoming year. "We do have a fund balance of roughly $700,000 so that's where that $200,000 would come from, would be out of the reserved fund balance for long term facilities," the presenter said.
Planned work includes addressing elevator controls and bringing them up to code, and replacing a retractable gym wall at Meadowview with a curtain; staff said those projects grew in scope once work estimates and required code upgrades were reviewed. The district also participates in a cooperative referred to in the presentation as "9 17" that covers shared projects among nine member districts; the district’s share of the cooperative’s FY26 plan was cited as about $42,000.
Why this matters: LTFM spending funds health-and-safety and deferred-maintenance work that affects building usability and safety. The board was given an FY26 overview and told the full 10-year plan will be presented later in the month when MDE updates are available.
Next steps: staff will present a complete 10-year plan for board approval once MDE provides current revenue and project reports; projects already identified will be scheduled as funding and timing allow.
