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Red Wing schools face roughly $1.7 million gap; leaders propose using fund balance to soften impact
Summary
Administrators told the Red Wing Public School District board the preliminary budget shows roughly $39.17 million in anticipated revenue versus $40.87 million in expenditures (about a $1.7 million gap). Staff recommended using up to $1 million from fund balance (including a projected $500,000 surplus) to reduce the shortfall to approximately $700,000 while seeking further cuts and enrollment strategies.
District administrators presented a budget update showing anticipated revenues of $39,172,000 and anticipated expenditures of $40,872,000, yielding an approximate $1.7 million shortfall. Staff said the district expects a roughly $500,000 surplus in the current fiscal year and recommended using $500,000 of that surplus plus an additional $500,000 of existing unassigned fund balance to reduce the projected deficit to about $700,000.
The administrator presenting the update said the move would leave the unassigned fund balance…
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