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Big Lake district revises budget after enrollment gains; fund balance rises to $9.4 million
Summary
District finance staff reported enrollment growth, higher-than-expected state and federal special-education aid and stronger investment earnings, and presented a spring budget revision that raises the unassigned fund balance to $9.4 million (23% of unassigned expenditures). The board approved the financial report.
The Big Lake Public School District board approved a spring budget revision Tuesday after finance staff reported enrollment gains, updated state and federal aid estimates and stronger investment earnings.
Angie (Finance staff) told the board the district’s average daily membership is about 3,128 and that the district has seen month-to-month growth ‘‘at Liberty.’’ She said the district adjusted general-education aid and updated special-education aid earlier than usual after the state released a revised model and after receiving updated co‑op data.
The revision also reflects higher investment earnings than previously projected, Angie said, because the Federal Reserve’s pause in rate cuts left interest yields higher than last fall’s assumptions. She summarized the district’s bottom line: an unassigned fund balance of $9,400,000, equal to about 23% of unassigned expenditures; the district’s fund-balance policy target range is 9%–12%.
Why it matters: higher-than-expected revenue from state and federal sources and from investments gives the district more flexibility for one-time needs and for carrying forward literacy-related one‑time grants. Angie said the district carried forward portions of one-time literacy (described in the packet) into new restricted reserve balances that must be used on literacy‑eligible items.
Board members asked for details about particular line items. Angie said transportation expenditures fell after one snow day, yielding about $42,000 in savings. She also said the community service fund balance fell by $101,004.94 and that the school-readiness component of that fund is currently in a negative position because state support is not covering preschool costs.
Angie flagged potential state budget changes that could affect the district: the governor’s proposal the board reviewed includes a 5% cut to special-education transportation, which Angie estimated could mean a $75,000–$80,000 hit for Big Lake if enacted. She also noted proposals to reduce community-education equalization aid and to cut some private-school and QCOMP funding; she said the governor is proposing one more year of summer-term unemployment funding.
Board action: Board member Shabillion moved to approve the financial report; Sixberry seconded the motion. The motion passed by voice vote.
Votes at a glance (other procedural votes taken earlier in the meeting): The board approved the consent agenda (minutes from Feb. 26 regular meeting and two work sessions, claims and accounts totaling $1,570,235.07, credit card report, personnel items, fundraisers, memoranda of understanding and listed policy first reads). The board also approved donations. Those motions passed on voice votes recorded as "Aye."
