Lake of the Woods board holds Truth in Taxation hearing, approves levy resolution and budget overview

At the Dec. 16, 2024 school board meeting, the Lake of the Woods School District held its Truth in Taxation presentation and the board approved a resolution to set the district's property tax levy as presented on the district's slides.

Shea, who led the budget presentation, told the board that the district is about 40% through the fiscal year and that year-to-date receipts across funds were running below a typical year-to-date pace. She said some revenue categories were behind but noted that November and December typically bring larger county and state apportionments that even out receipts. Shea reported total cash on hand as of Nov. 30, 2024 of $2,003,678.72 and compared that to roughly $1,617,774.42 a year earlier, a difference she described as roughly $400,000 more than the prior year.

Shea also summarized year-to-date expenditures by category, saying salaries and wages were about 23% expended, employee benefits 28.2%, purchase services 46.3%, supplies and materials 33.5% and capital equipment 12% expended; overall all-funds expenditures were about 29% of budget. On grant revenue, Shea said the district budgeted Title funding at $90,000 but that after the application was accepted the district will receive about $120,000.

The presenter reviewed broader funding context: the district's general-fund projection showed revenues exceeding expenditures by $148,700 for the 2024–25 year in the materials shown to the board; the presenter also described per-pupil funding shortfalls and how state formulas and equalization factors affect local levies.

After the presentation and brief Q&A on cash flow and the timing of county apportionments and state payments, the board moved to set the organizational meeting for Jan. 21, 2025 and voted to approve Resolution 2024-25-22 to set the property tax levy as presented on the district slide deck. The motion carried by voice vote; the transcript records the motion and that all in favor signified by saying "aye," with no roll-call tallies provided.

The district noted reductions made for 2024–25 in the proposed budget, including elimination of some paraprofessional positions and a social worker, and said it plans to continue budget revisions and to work on a three- to five-year plan going forward.

The board also announced that it expects a larger county apportionment and state payment in the coming months, and staff said they remain comfortable with cash flow given those anticipated receipts and the district's recent cost reductions.

The board adjourned after completing the agenda; the organizational meeting will be held Jan. 21 at 5:30 p.m.