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New Richmond treasurer says one‑time payments and grants ease near‑term budget shortfall but food service runs a $208,000 deficit
Summary
The district treasurer told the board May 11 that an unexpected TIF/TIFF payment and larger‑than‑expected career‑center receipts materially improved the near‑term forecast, but food service is operating roughly $208,000 in the red and may require an operating advance from the general fund.
At the May 11 meeting of the New Richmond Exempted Village School District Board of Education, the district treasurer delivered an April actuals and forecast update that showed a mix of one‑time revenues and ongoing pressures.
The treasurer said the district will receive an advance of about $80,000–$90,000 from the county auditor to cover a late property‑tax settlement and that a separate TIF/TIFF payment of roughly $334,000 arrived this spring. She also reported previously received career center revenue of just over $65,000 in the fall and an estimated spring career‑center payment of about $340,000, a combination that would total roughly $400,000 from that revenue stream for the current year.
Those receipts narrowed an earlier projected shortfall and moved the forecast for fiscal 2026 closer to break‑even, the treasurer said. She also noted special‑education (threshold cost) reimbursements are uncertain but that applications this cycle could yield about $356,000 if approved, while cautioning that the state reimbursement rate has trended lower in recent years.
"We had a nice surprise in the career center revenue," the Treasurer said. "That really backfills a hole from the TPP loss that we're experiencing." She emphasized the district was modeling conservatively and carrying forward only amounts it considered likely to be realized.
On the expenditure side, the treasurer recommended a planned transfer of $250,000 to the permanent improvement (PI) fund this year (down from prior years' $500,000 practice) and flagged a recently posted property‑tax collection fee expense of about $166,000. Most critically, food service operations are running a deficit of approximately $208,000; the treasurer described advancing funds to cover the shortfall and then reversing the advance after summer collections as one option to avoid an end‑of‑year negative balance.
Board members pressed for clarity on which revenue items were recurring versus one‑time, and the treasurer reiterated that forecasts must account for several variables outside district control, including state biannual budget decisions that could alter devaluation or TPP payments. She said the district intends to continue improving monthly forecasting and to keep trustees apprised as more grant and collection details become available.
The board did not take a formal vote on any new borrowing or transfers at the meeting; several follow‑up items were identified for staff to return with additional detail.
