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Board approves 10‑year long‑term facilities maintenance plan; revenue projection cited
Summary
Treasurer Trevor Peterson presented the district’s required 10‑year long‑term facilities maintenance plan, explained how the LTFM revenue formula works and said the district projects about $1.2 million in LTFM revenue for the coming year; the board approved the plan for submission to the Minnesota Department of Education.
Trevor Peterson asked the Alexandria Public Schools board to approve the district’s 10‑year long‑term facilities maintenance (LTFM) plan for submission to the Minnesota Department of Education.
Peterson explained the LTFM form includes a revenue projection, a 10‑year expenditure plan, a superintendent’s statement of assurance and an excerpt of the minutes for submission. He said the statute creating the program dates to 2014 and that Alexandria has historically been a levy district. "For us it is about $1.2 million dollars, that we have in our long term facilities maintenance plan," Peterson said when describing the current projection.
He noted the LTFM revenue calculation depends on enrollment projections, building age and square footage, and that the district focuses its projections on the first three years of the plan while outlining longer‑term roofing, plumbing and electrical projects further out. Peterson said the plan is needed for the payable‑2026 levy that will support fiscal‑year 2026–27 projects and asked the board to approve the plan for the required July 31 submission to MDE.
A board member moved to approve the plan; another seconded and the board approved the plan by voice vote. Peterson said administration will continue work on levy calculations and return with preliminary levy information in September.
The board’s approval fulfills the statutory requirement to present and adopt the LTFM plan annually and enables the district to continue using the dedicated LTFM revenue stream for building maintenance and capital upkeep.
