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Northfield finance director warns of multimillion-dollar gap; recommends $6 million budget reduction target
Summary
District finance staff projected a roughly $4.5 million operating deficit for 2025–26 under current assumptions and recommended a $6 million budget-reduction target while outlining the timeline for priority-based budget teams and community review.
Val Almergister, Northfield Public School District director of finance, told the school board on Jan. 27 that the district faces an operating shortfall under current assumptions and recommended a $6,000,000 budget-reduction target for fiscal 2025–26.
Almergister said the district closed fiscal 2023–24 with a 13.83% unassigned fund balance and that the revised 2024–25 budget includes a planned $592,000 deficit. Under conservative revenue assumptions (a 2.4% increase in basic per-pupil state aid and limited federal and interest revenue) and with projected cost increases for salaries, benefits and other expenses, the forecasted 2025–26 shortfall is about $4.5 million. The district recommends budgeting to reduce that…
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