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Lakeville budget review flags big insurance claim and projected premium increases
Summary
Finance staff reported the district’s current-year budget is tracking close to expectations but flagged an unprecedented insurance-claims drawdown that reduced the self-insurance fund and could lead to a projected 15% premium increase next year, quietly raising fiscal pressures for the district.
Director Bill Holmgren presented a current-year budget update through Dec. 31 and answered directors’ questions about revenues, expenditures and program-level timing.
Holmgren said revenues are slightly higher year to date, but expenditures vary by timing: curriculum purchases bought earlier than prior years produced a one-time jump in supplies and materials. He called the current…
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