Board moves $3 million to assigned fund balance to cover facilities and device needs

At the Oct. meeting the Worthington Public School District board voted to set the assigned fund balance for the 2024-25 year, approving a recommendation to move $3,000,000 from unassigned reserves to assigned funds for specific projects.

Ryan, a district staff member presenting the fund summary, said the estimated unassigned fund balance for the year is about $18,700,000 and the assigned fund balance is about $18,500,000 before the transfer. "If you did move the $3,000,000 to the assigned fund balance, it is still greater than a three-month general expense average," Ryan said, and he noted the assigned balance would remain above the district's 10% policy minimum by roughly $8,500,000.

The board heard that assigned projects include the ice arena, a potential softball field, the Prairie Elementary roof beyond LTFM funding, and potential iPad costs. Operations staff explained iPads purchased four years ago with COVID-era funds are approaching end-of-life and replacements were not budgeted in subsequent years.

A motion to set the assigned fund balance was moved and seconded (motion moved by Anne; seconded by Matt) and passed without roll-call by voice vote.

The board also approved a $5,320 allocation to a ‘‘Studio 3' fund balance" line in the same motion, and staff explained roughly $1.5 million in LTFM funding is projected toward the Prairie roof while the total estimated cost for the next phase is $2.2 million, leaving a projected local share.

Board members asked for clarity on which projects are already tagged or committed and how technology replacement obligations will be scheduled; staff said much of the assigned sum already has earmarks for past commitments and capital needs.