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Board hears detailed budget briefing as staff explain restricted reserves, LTFM and planned May 19 study session
Summary
District finance staff briefed the Prior Lake‑Savage Area Schools board on revenue, restricted fund balances including literacy and staff‑development reserves, and Long‑Term Facilities Maintenance (LTFM) rules; staff will present detailed line‑item changes and scenarios at a May 19 study session.
Finance director Tammy Frederickson told the Prior Lake‑Savage Area Schools board on May 5 that staff are preparing a more detailed budget breakout for the May 19 study session after the board’s Finance Advisory Committee requested additional information.
Frederickson said the district’s current budget worksheets show a planned use of roughly $982,000 in restricted fund balance across several categories (literacy aid, capital / LTFM, staff development and compensatory funds) and that when those restricted reserves are included, projected revenue for the next fiscal year is about $122,200,000. She said special education budgets were not reduced…
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